Now is the time to turn dreams into reality. Whether you seek adventure, tranquility, or a perfect blend of both, Sunriver is the canvas for your ideal life. Seize the opportunity to own a piece of this Pacific Northwest paradise – your Sunriver dream home awaits.
November 2024 Bend Real Estate Update: Market Shifts You Need to Know!
Bend Market Shifts, November 2024
The Bend single-family residential (SFR) market experienced a notable shift last month, with the median sale price dropping from $800K in October to $700K—its lowest point since early 2024. High-end properties over $1 million represented roughly 21% of total sales in November, a significant decrease from 35% in October.
Sales activity slowed overall, with fewer transactions and an increase in average days on market to 51 days. Meanwhile, SFR inventory remained steady at around a 3-month supply. These seasonal patterns, including longer market times and reduced sales volume, are consistent with Central Oregon’s typical real estate trends for this time of year.
Sunriver and Bend Real Estate Market Comparison
In 2024, the Sunriver and Bend real estate markets show distinct patterns in buyer appeal and market dynamics. Sunriver, with its resort-centric, vacation-oriented atmosphere, tends to have more stable pricing, attracting mostly second-home buyers and vacationers. Conversely, Bend’s market remains more active and fast-paced, driven by its city amenities and steady population of year-round residents.
Recent data from Sunriver indicates a modest dip in sales prices, averaging about 96.8% of the list price, along with a longer time on the market than in previous years. Nonetheless, it remains appealing to out-of-state buyers, particularly from cities like Portland, Seattle, and San Francisco, due to its lifestyle and recreational appeal.