Real Estate Market Update
Home Prices Climb Most Since May 2006
April 30, 2013
The S&P/Case-Shiller index of property values in 20 cities rose 9.3 percent from February 2012, more than forecasted. Demand that’s rising while inventories remain tight has exerted upward pressure on home values. Price figures from the NAR showed the median value of an existing home rose 11.8 percent, the most since November 2005. Read the full story at Bloomberg.com.
Here Come The Angelinos
It’s Official. American Airlines’ new direct daily non-stop service from LAX to RDM will start June 12, just in time for prime season. The purchasing power of the Angelinos is well documented, so get ready for a jump in Real Estate activity. To all our Angelinos fans out there – we look forward to seeing much more of you. Come enjoy world-renowned golf at over 30 courses – at a fraction of the prices you’re accustomed to paying. The country’s sixth largest ski resort. 300 days of sunshine. Over 500 miles of breathtaking single track. 15 breweries and counting. And so much more.
Bend Single Family Home Market Up 36%
The recovery continues in Bend Oregon. Among single family homes over the past 12 months, total sales volume is up 36%, the median price is up 18% and total number of sales is up 15%. If you are looking in Central Oregon, now is the time.
Brasada Ranch Off To A Record Start
Being named Oregon’s Best Destination Resort by The Oregonian has brought a lot of attention to The Ranch and we’re off to a record start to the year and through March total sales are up 55%. The total number of lots sold or in escrow is up 88% year-over-year and the median price has jumped more than 25%. Home and cabins sales are right in line with last year and Cabin prices are on the rise.
2012 Marks The Recovery
Within The Ranch in 2012, versus 2011:
- Total sales volume increased 62%, with home volume up 113%, lot volume up 13%, and cabin volume up 106%.
- The total number of sales increased 26%, from 43 sales in 2011 to 54 total sales in 2012.
- Home building activity continued its rapid pace, with four new homes completed in 2012, six more started and three currently in the design review process.
- Homesite sales on the West Side increased 650%, with 2 sales in 2011 and 15 in 2012.
- Cabin sales increased 80%, from 5 sales in 2011 to 9 in 2012, and the average Cabin Owner participating in Brasada Ranch’s Rental Management Program realized a 100% increase in their gross rental receipts. In 2012, The Ranch was sold out of cabins on an overnight basis nearly 60% of the available peak season nights. As a result, four new four-bedroom cabins are being constructed and will be ready for the summer season.
Bend Real Estate Climbing Higher
How is the real estate market in Bend Oregon? Outstanding. Based on data from Bratton Appraisal Group through November 2012, versus the same period in 2011, the Bend, Oregon real estate market is climbing higher:
- Total single family home sales are up 19%
- The median price of a single family home is up 12%
- Total sales volume is up 33%
- Building permits are up 61%
There's no doubt about it - real estate in Bend Oregon is on the mend. And as more and more guests come to enjoy the Brasada Ranch experience each year, it should come as no surprise that our real estate market is improving quickly.
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