As I mentioned before in a previous post, I am expanding on the word count restriction within a recent article I published in the Sunriver Scene, a-local-to-Sunriver-owners monthly publication. The topic was home inventory statistics – focused largely on Sunriver Resort.
Home inventory information plays an important role in your home buying decision, but only to a degree. Once you have made the decision to move to an area such as Central Oregon, how many homes are for sale often doesn’t enter into the discussion. This is unfortunate. Home inventory information basically dictates the price your will pay for that home and the selection of homes that might be available.
Home inventory information breaks down into three basic categories: a seller’s market where there are few homes available, a buyer’s market where a glut of properties are for sale, and a balanced market, where the prices seem to match the properties being sold. Central Oregon has a selection of all types.
Let’s talk about Bend.
Over the last decade, the growth in Bend has been nothing short of phenomenal. Recent reports point to a growth rate that ranks this once small town as the seventh fastest in the nation. There are good reasons for this growth: Beauty and diversity. It has become part resort, part permanent city, and wholly enjoyable for every type of activity across all seasons. Few cities can boast of those credentials.
But Growth has Its Issues
Where do you put all of these people? Bend has addressed those issue as well and the future home buyer should be aware of the opportunities located here. Buyers will have a vast choice of new homes and older properties, some with land, others in newly developed communities. But with that kind of growth comes an increase in prices. While Bend still seems to have an adequate amount of inventory available for new residents, it comes at a price. There has been some price inflation in newer homes, and yet, older homes for sale have remained reasonably priced.
To be a Seller’s Market
If you are currently living in Bend and are looking to sell your home, you will be faced with some hard choices. Even though people are flocking to this wonderful area, their expectations are also as high as their hopes and dreams. In a true seller’s market, every home is overpriced regardless of condition.
For sellers to take advantage of these new hopefuls, any good broker/agent, myself included, will suggest the importance of staging, a method of removing and rearranging your current furnishing to appeal to a wider demographic, and of course, making more than cosmetic upgrades. There are older homes in Bend and when compared to newer construction, potential buyers may see the higher price as a turnkey situation and worth the additional cost.
Bend has benefited from people moving to this amazing part of the country from seller’s markets in places like California. Because there are over nine hundred homes available in the Bend as of this writing, the market is currently meeting demand with a broad range of age and prices. For now, it can be considered a balanced market.
How can we assist you today?
On behalf of The Jones Group @ Sunriver Realty
Nola Horton-Jones, Principal Broker/Realtor | ABR, C-RIS, e-PRO, GREEN, RSPS, CCIM Candidate
Bryce Jones, Broker/Realtor | ABR, CRS, e-PRO, GREEN, GRI, RSPS, SFR
Karen Marcy, Broker/Realtor
The Jones Group @ Sunriver Realty | 57057 Beaver Drive | Sunriver, OR 97707
Mobile: 541-420-3725 | Mobile: 541-420-4018 | Mobile: 503-327-9611 | Fax: 541-593-5123
Licensed in Oregon