December 2018 Real Estate Report

There is snow in the mountains and I am already thinking ahead about the great ski season ahead of us. I simply don’t believe the forecast of a bad snow year and I have my ski setup ready to go at a moment’s notice. Bring it on!

In regards to real estate, I thought I would take some time to talk numbers. With only one month left in the year, I have projected the 2018 real estate volume and it looks impressive. While the overall real estate market is adjusting nationwide, it appears to be settling out into a more balanced and predictable market ahead which is good for everyone. A slight increase in the supply of homes makes for more selection for buyers to make a methodical and wise investment.

Here are a few of the details from 2018 in Tetherow:

– 98 real estate transactions recorded in our Multiple Listing Service. This includes developer and resale transactions.

– 45 Homesite sales at an average price of $355,000 representing almost $16,000,000 in sales

– 53 Home and Townhome sales at an average price of $1,236,000 representing over $65,000,000 in sales

-Total sales volume of $81,000,000

These numbers are certainly impressive and represent a mature part of the development cycle of a large project, in which home (re)sales become an increasingly large part of the sales volume. We have only 45 developer homesites remaining and securing a vacant lot will become an increasingly tough objective. If you have friends still considering making this move and securing their place in Tetherow there is no time like the present to make this investment.

Speaking of a wise investment, let’s talk about the Tetherow vacation homes. Trailhead has 3 units remaining in phase 1 with the final 5 in phase 2 nearing completion. These well-appointed and constructed homes are situated around their own namesake “Trailhead” leading into Phil’s trail complex. We are also down to our final two units in the Cairn vacation homes, and they have certainly saved the best floorplan for last in the new Skyliner plan that features five full suites and sweeping views to the south. Both of these development options are a great way to enjoy a carefree time in Bend while generating income while you are not in residence. Tetherow Management has reported that overall booking volume and interest in renting homes at Tetherow are way up as more people are discovering the advantages of renting at Tetherow rather than a random VRBO in Bend or Sunriver.

For more information about anything Tetherow real estate, feel free to stop by our center in the Guest Services building or give us a call.

Brian Ladd, Ladd Group at Cascade Sotheby’s

541-633-4569