Kerry Knouse has joined Bend Premier as a Principal Broker.  Kerry brings over 10 years of experience representing buyers and sellers. Kerry had a long career in construction prior to becoming a real estate agent and really understands the Central Oregon market, including its varied neighborhoods and communities. Bend Premier is pleased he has joined us. To read more about Kerry, click on Kerry's website.

What's in the October, 2023 Bend Premier Newsletter?

• Bend Home Sales Down While Rate of Price Increase Drops
• Butternut Squash Soup
• Beginning with Pre-Approval
• Hike Pamelia Lake to Grizzly Mountain
• Explaining Today's Low Housing Supply

Bend Home Sales Down While Rate of Price Increase Drops

The Bend real estate market is in transition. With high mortgage interest rates impacting the buying power of potential Bend homebuyers and with sellers who may currently own a home financed under a low mortgage interest rate not listing, low inventory levels are keeping home prices up while the number of sales have dramatically dropped. We are seeing fewer new listings hitting the market, resulting in fewer pending sales and closed transactions. This is beyond the normal slow down that happens in Bend after school starts. This change is being felt nation wide and fewer home sales are happening with mortgage rates now approaching 8%.

Bend Real Estate Sales Impacted by Rising Interest Rates

We compare Bend Home sales year over year in order to be consistent in our data. When September 2023 sales of Bend single family homes are compared with those from September 2022, the following changes can be noted...

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Broken Top is a Recognized Bend Oregon Luxury Subdivision

Started in 1993, the Broken Top community and golf club have been one of Bend's premier subdivisions for many decades. Situated in Bend's west side, the private Morrish-Weiskopf designed 18 hole golf course and club have hosted professional and local tournaments and have been member owned for the past few years. Residences in the gated community include custom designed luxury homes on large lots, luxury townhomes, and a handful of vacation rentals which can also be used as year-round dwellings. 

Market Trends for Broken Top Single Family Homes

Broken Top real estate sales experienced the same pattern that much of Bend did during the Covid-19 pandemic with home prices and demand rising dramatically during 2020-2021, and then leveling off once interest rates doubled in 2022. Today, median sales prices have dropped from their 2022 peak with inventory levels and the number of sales rising.

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Hike Tam McArthur Rim to Broken Top For a Different Approach to No Name Lake

Each year we hike to Broken Top from different trailheads, often arriving at our final destination at No Name Lake, the beautiful glacial aqua blue lake located on the eastern edge of the mountain. One of our favorite hikes includes first a trek to Tam McArthur Rim overlooking Three Creeks Lake outside of Sisters which in itself can be the destination for many. For us, this extended hike passes Tam McArthur Rim on the well marked but "not maintained" trail to Broken Hand and then to the rim overlooking No Name Lake. The total trip for us includes a side trip north of Broken Hand into the safer, but longer path around Broken Hand and then up to the rim. This hike exceeds 10 miles and 2000 feet of elevation gain, but is well worth the trip for the beauty of close views of all Three Sisters and Broken Top. At one point on the hike, views from Mt. Bachelor to Mt Hood are visible - 9 total Cascade Peaks.