March 2013 Bratton Report

It looks like we are into a classic Central Oregon weather pattern for spring. Snowstorms today then we head back to sunny skies and temperatures up towards the sixties for the end of the week. When you are looking for defined seasons you need to look no further than Central Oregon.  I think that we have some of the most pronounced seasons, sun and dry high desert warmth in the summer, sunny days with spectacular foliage colors and cool crisp nights in the fall, snow in the winter and the mix of snow, blossoms and sun in the spring.

Mother Nature is not the only one who is coming to life this spring this month’s Bratton Report is showing the best median pricing for Bend homes since the fall of 2008, or would that be when the market fell in the fall of 2008. The number of homes sold for the month also has rebounded from the previous five months winter decline. While the number of sold is not near our highs it indicates a return of buyers to the market above $400,000. This I believe is a good sign as it will free up inventory in the lower brackets as homeowners seek to take advantage of today’s low interest rate and purchase more home for their buying dollar.

Currently the inventory remains tight and new properties that are listed seem to get gobbled up as soon as they appear on the market. This is evident by the decline of how many days properties are remaining on the market. Builders seem to be attune to the thin inventory as they continue to apply for building permits. The level of permits has remained relatively consistent for the last three quarters, that level is one which has not been seen since the spring of 2007.

While some feel today’s market conditions are another bubble, we are hopeful that this is a sustainable trend that will moderate and remain consistent.

Follow this link Duke Warner Market Trends Report and Bratton Report for this month and prior month’s history of activity. If you have questions about the Bend real estate market and need a source for information, please contact me, Bill Panton.  I am glad to assist you in making informed decisions about Bend and Central Oregon.

#centraloregon, #bendoregon, #dukewarner, #billpanton, #shopbendhomes

March 2013 Duke Warner Market Trends Report

Today was snow globe day in Bend this morning we looked like one of those snow globes that turn upside down to have all of the snowflakes cover the village in the globe. Goes to show how spring weather in Central Oregon can through myriad of conditions on any given day. This morning there was an inch and a half of snow on the ground. Now I can see the blossoming tree across the street.

Just like spring flowers there have been many new listings budding out. With our market being slightly heated up like a warm spring day there are many folks out pruning the new blossoms. According to our Duke Warner Market Trends Report  the Bend market had 230 new property listings this month but the bump in the overall number of active listings available was slight. The pruning was achieved through the pending sales and sold properties; both showed a healthy increase in their numbers. March produced sales of 155 homes versus 100 homes in February being sold. This is a close match to March of 2012 when 153 homes were sold. With the amount of interest in purchasing homes this year we should at least mirror last year if not see a healthy increase in sales activity this summer. 

Follow this link Duke Warner Market Trends Report and Bratton Report for this month and prior month’s history of activity. If you have questions about the Bend real estate market and need a source for information, please contact me, Bill Panton.  I am glad to assist you in making informed decisions about Bend and Central Oregon.

#centraloregon, #bendoregon, #dukewarner, #billpanton, #shopbendhomes

The River Rim neighborhood appears to be settling in as a vibrant addition to Bend’s classic neighborhoods. Located in southwest Bend it is a neighborhood with a great variety of homes. River Rim has homes from the moderately priced but affordable to million dollar compounds located on the Deschutes River.  

Recently the Brookswood Meadow Plaza, which is located at the southern entry to River Rim, has added a one of Bend’s premier Mexican restaurants, La Rosa. La Rosa has been a long time favorite with those on the west side of Bend and has now brought their creative flair to the River Rim community. Also featured at the plaza is their Farmers Market starting in late June and running through the summer months. The Farmers Market is a wonderful addition for a vibrant and growing market district.

As with the rest of the Bend real estate market the availability of homes in the River Rim neighborhood is very tight with three homes actively listed for sale. Previously the market in River Rim contain more distressed properties a byproduct of the neighborhood being built in the mid 2000’s. Many folks had not lived in their homes long enough to have developed much in the way of equity. When the market to the turn for the worst, the adjusted values left many homeowners in the sad position of having to give up their homes. The market has now moved through the majority of these properties in this neighborhood leaving a solid community that has a great amount of pride.

With the neighborhoods popularity and pride of ownership, I would not anticipate that many homes will become available in River Rim in the near term. If you have questions about the River Rim community or the Bend real estate market and need a source for information, please contact me.  I am glad to assist you in making informed decisions about Bend.

			List Price				Average
	Listings	Low	High	Average	Median	$/Sqft	DOM
Active	3	$409,000	$615,000	$478,833	$412,500	$171	168
New	2	$409,000	$615,000	$512,000	$512,000	$182	117
Contingent	0	$0	$0	$0	$0	$0	0
Pending	7	$219,500	$439,000	$324,200	$320,000	$151	72
Sold	5	$205,000	$507,500	$299,630	$211,000	$215	174

Address Bedrooms Bathrooms Sq. Ft. Sale Price DOM Garrison Drive 3 3 1800  $  205,000 223 Greatwood Loop 3 2 1606  $  208,750 25 Garrison Drive 3 2.5 1799  $  211,000 116 Woods Valley Place 3 2.5 2728  $  365,900 44 Golden Meadow Loop 3 3 2583  $  507,500 466

#RiverRim, #shopbendhomes.com, #BrookswoodPlaza, #LaRosa, #BillPanton

Northwest Crossing Springs to Life…

Northwest Crossing continues to set the pace in homes sales and lifestyle for Bend, Oregon.

Kicking off the return of spring is the Northwest Crossing Spring Festival hosted at the heart of their merchant district. Highlighting this event will be music by “Larry and His Flask”, if high energy music is not on your agenda perhaps the “Street Chalk Competition”, the Fine Artist Promenade or the Spring Morning Yoga Session will suit you.

Start the 2013 year; twenty homes have been sold in the first quarter, far exceeding sales in any other Bend neighborhood. Currently the average price for home in Northwest Crossing has leapt upward over the $400,000 mark. Occasionally we will see homes from the founding portions of Northwest Crossing will be offered for under $400,000 but the days of easily finding a home in the $300,000 range have left the market of today.

New home starts in Northwest Crossing continue to pace the Bend real estate market with many of these new homes selling shortly after they are offered. In many cases the home will be pre-sold. West Bend Properties is pressing forward and are developing a new section that is slated for release this fall/early winter. Stay tuned for more on these lots and homes which should offer some lots that are larger than the norm for Northwest Crossing. They should be similar to lots recently offered off of NW Lolo Pass Drive and Drouillard Avenue.

If you have questions about the Northwest Crossing community or the Bend real estate market and need a source for information, please contact me.  I am glad to assist you in making informed decisions about Bend.

			List Price				Average
	Listings	Low	High	Average	Median	$/Sqft	DOM
Active	18	$419,900	$699,000	$520,467	$499,900	$232	75
New	15	$419,900	$759,900	$556,360	$539,900	$235	49
Contingent	1	$424,900	$424,900	$424,900	$424,900	$189	161
Pending	11	$310,000	$699,500	$443,536	$444,900	$231	122
Sold	20	$259,900	$725,000	$434,940	$390,832	$215	137

Address	Bedrooms	Bathrooms	Sq. Ft.	Sale Price	DOM
Mt Washington Drive	2	2	1115	$        259,900	17
Mt Washington Drive	3	1	1774	$        285,000	126
Mt Washington Drive	2	2.5	1378	$        305,000	67
Frazer Lane	3	2	1442	$        329,500	335
Labiche Lane	3	2	1586	$        335,000	102
Crossing Drive	2	2	1462	$        342,035	192
Sacaqawea Lane	3	2.5	1695	$        375,000	49
John Fremont Street	3	2.5	1816	$        380,000	38
Frazer Lane	3	2	1714	$        389,000	132
Shields Drive	3	2.5	2521	$        390,000	196
Frazer Lane	3	2	1500	$        391,665	212
Frazer Lane	3	2.5	2250	$        449,900	234
High Lakes Loop	3	3	2118	$        449,900	41
Lemhi Pass Drive	3	2.5	2627	$        460,000	229
Lolo Pass Drive	3	2.5	2185	$        508,500	211
Drouillard Avenue	4	2.5	2314	$        524,900	177
Crossing Drive	3	2.5	2734	$        539,500	103
Lolo Pass Drive	3	2.5	2337	$        624,000	169
High Lakes Loop	4	2.5	2569	$        635,000	0
Lolo Pass Drive	4	2.5	3861	$        725,000	110