October 2012 Market Report for the Neighborhoods of Awbrey Butte in Bend, Oregon

For those of you that have been following along for the last week or so I have been providing a mini market trend report for some of Bend, Oregon’s favorite neighborhoods. If you have not seen your favorite neighborhoods feel free to contact me and I can put together a report for your favorite. Today we are going to focus on the Neighborhoods of Awbrey Butte.

You might be curious as to what comprises the neighborhoods of Awbrey Butte? In my thinking they are Awbrey Heights, Awbrey Point, Awbrey Road Heights, Bend View, City View, Greyhawk, Hawks Ridge, Heights of Bend, Hillside Park, Tumalo Heights and a few others. These neighborhoods consist of a diverse collection of homes on the lower flanks of Awbrey Butte. There are modest homes built in the late forties to the ultra contemporary with spectacular views of the city and the Paulina Mountains to the south.

The older of these neighborhoods have been extremely popular with folks looking to renovate a classic home into some more contemporary. A key feature for many of these homes is their proximity to downtown Bend. Many of these homes sit on larger than average lots as well lending to a feel of having a larger home.

One other quirk is the tax rate for many of the older homes is significantly less than their newer counterparts throughout Bend. This in part to a property tax limitation measure (measure 50)passed back in 1997. It is a little too complicated to get into right now but in certain circumstances owners of older homes benefit greatly.

In the chart below you can see the diversity of these neighborhoods with prices currently running from $299,000 to $2,395,000. Last month was a slower month for the neighborhoods with only two homes selling versus September when seven homes sold. A portion of that difference may be accounted for in the number of pending sales which is sitting at four more than September. With a decent inventory of homes going in to the holiday season sales should remain consistent. Hopefully this spring we will see an influx of newer listings to tickle buyer’s fancies.

If you have questions about any of the homes available in the neighborhoods of Awbrey Butte or the Bend real estate market in general or perhaps you need a source for information. Please contact me, I would be glad to assist you in making informed decisions about Bend real estate.

                                            List Price Average
            Listings    Low         High          Average    Median    $/Sqft  DOM
Active        14   $299,000   $2,395,000   $658,268   $517,475   $210   159
New             4   $385,000    $750,000     $514,975   $462,450   $159   27
Contingent 0   $0               $0                 $0             $0             $0       0
Pending     5   $285,000     $469,900   $353,880   $290,000   $149   98
Sold            2   $300,000     $390,000   $345,000   $345,000   $191   117