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CENTRAL OREGON MARKET REPORT - MARCH 6, 2024

New Listing Coming Soon!

🏡 Rare RM Zoned Lot in Prime Bend Location! 🏡

1536 SE Tempest Drive - Bend - $395,000

Calling all investors and multi-family developers! Seize the opportunity to secure one of the last RM zoned lots in the thriving city of Bend. With exponential growth underway and a pressing need for multi-family housing, this parcel presents a golden opportunity to capitalize on the city's incentives and make a great investment.

Situated just south of Pilot Butte and adjacent to Ponderosa Park, this parcel boasts unparalleled potential for a multi-unit build, with the possibility of accommodating up to 10 units, subject to verification directly with the City. Strategically positioned close to schools, essential services, and downtown amenities, this prime location offers the perfect blend of convenience and desirability. Whether you're an experienced developer seeking your next project or an investor looking to capitalize on Bend's rapid expansion, this is an opportunity not to be missed.

Call Now - 541.525.9955

 
 

With more Winter weather in the area, sellers are still on hold for kicking off the selling season. Last month's stats show Bend prices trending downward, Redmond staying flat and Sisters jumping upward. In the past week, I've seen a glimpse of what type of competition we will see in the lower price points this Spring; three Bend listings in the mid-500's range went pending in less than 5 days, with multiple offers. This could be break in buyers with a desire to grab an opportunity now and plan to refinance in the near future (good idea) or it could just show the large demand we still have, sitting on the sidelines right now. Mid-range and higher price points are still hit or miss with their inventory and days on market, meaning that some listing play the game better than others.. Buyers in this space are very cautious and selective about their investment and listings who price and market the best are still selling, while others are sitting around getting stale. It's more important than ever right now to be realistic about buyer demand and be very educated on what's going on in the market. Give me a call if you'd like to discuss what your options are this coming season. - Greg

 

What's new with Mortgage Rates?

This is a scenario for top tier borrowers with 20% down and great credit. These rates and better can also be seen for other borrowers by using seller credits!

 

Upzoning Leads to Sharp Growth in Construction in Bend

After Oregon legalized 'missing middle housing' in cities statewide, Bend, the first city to comply with the state law, has experienced a significant boost in mid-density housing construction.


 

Market Snapshot


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