Well treed .93 acre lot backs to blm just off of Dorrance Meadow. Close to town for convenience yet still has privacy.
Listed by Tisha Anderson for West + Main Homes. Please contact Tisha for current pricing + availability.
Quartz countertops throughout, Large kitchen with pantry, coffee bar and room for entertaining. 2 car finished garage, fenced lot with gated access from the back of the property. Large patio with a landscaped front yard and sprinklers. Just a short drive to Lake Billy Chinook.
Listed by Jason Bradley for West + Main Homes. Please contact Jason for current pricing + availability.
With mature trees and fully fenced with a sectioned off area for raised beds and raspberries, you will love the peace and privacy of the outdoor space. Inside you will find the 3 bedroom and 2 bathroom home cozy and bright with vaulted ceilings and skylights. Close to Pine Nursery, the canal trail, 10 Barrel Brewing, medical facilities, and more. Come take a look!
Listed by DeAnna Davis for West + Main Homes. Please contact DeAnna for current pricing + availability.
Bend detached homes throttled up to 2 months of supply, after bottoming out at ⅓ of a month this past January, resulting in the largest selection of houses since the pandemic began.
Bend prices cooled just slightly this month, while Redmond saw a slight increase in June.
Mortgage rates spiked in June, but have cooled in recent weeks giving buyers incentive to find something now. Rates this week are at 5.30% on 30-year fixed loans according to Freddie Mac.
“Over the last two weeks, the 30-year fixed-rate mortgage dropped by half a percent, as concerns about a potential recession continue to rise. While the drop provides minor relief to buyers, the housing market will continue to normalize if home price growth materially slows due to the combination of low housing affordability and an expected economic slowdown.”
Price reductions increased again in June, now up to 30.4% of the market nationally, said Mike Simonsen of Altos Research. “Expect 40% with price reductions by September,” he said.
Homes in La Pine are selling quickly this summer after needing several months for homes to sell through much of the winter. Sunriver ended the quarter with million dollar median prices.
BEND AREA
$722,000
Median Price
6 Days on Market
REDMOND AREA
$530,000
Median Price
6 Days on Market
JEFFERSON COUNTY
$403,000
Median Price
6 Days on Market
SUNRIVER
$1,065,000
Median Price
4 Days on Market
LA PINE
$460,000
Median Price
11 Days on Market
SISTERS
$690,000
Median Price
4 Days on Market
CROOK COUNTY
$400,000
Median Price
11 Days on Market
Thank you to Beacon Appraisal Group for compiling this report. Prepared by Donnie Montagner with information from the MLS of Central Oregon with permission from COAR.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
While this does echo an overall increase in second home purchases during the pandemic, with a 37% increase in the same time frame, homes that fell under elevated climate-related risks saw even larger purchase rates compared to pre-pandemic levels.
These include a 45% increase in secondary homes at high flood risk, a 40% increase for those at high storm risk, and a 39% for high heat risk.
While rising mortgage rates and inflation has slowed the demand. for housing and slowly begun to decrease home prices across the country, this data shows that many Americans “now own at-risk second homes, which has implications for the future.”
“The threat of climate change isn’t the top concern for a lot of homebuyers, which means they often prioritize factors like warm weather and proximity to the beach over avoiding natural-disaster risk. Second-home owners, in particular, have another place to live if disaster strikes—another reason climate danger may not feel like a pressing issue,” stated Redfin Senior Economist Sheharyar Bokhari, in a release.
“But house hunters should be aware that purchasing in a disaster-prone area not only puts them and their home at risk, but their finances as well. Home values in climate-endangered places may fall in the coming years as consumers learn more about the risks to properties in these areas,” Bokhari said.
The Redfin report also found that, due in part to large migration into states like Florida and Arizona, which face significant heat and/or storm risk, more people have been moving into than out of counties with the largest share of homes at risk for natural disaster.
It says that nearly all (94%) of all second homes purchased in the past two years face high heat risk, with storm risk facing 78% of those homes. Other risks include high flood risk (26%), high fire risk (23%) and high drought risk (21%).
In other recent proptech news, June rate hikes pushed rental demand and multifamily building tech. PLACE also announced new CTO and CMO hires.
Keep reading on Housing Wire Media.
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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
