BEND OREGON NEWS FOR JUNE 2016

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Changes are all around us. The temperatures go up and down as summer finally finds its place at our back door, and here we are with another morning full of sunshine in central Oregon.

While changes happen all around us – it is good to stop and take stock in what we have and especially where we live. Thrillist listed Bend, Oregon as one of the nine best mountain towns in America. Tourism dollars continue to flow and a statewide study commissioned by Travel Oregon showed that the direct spending by visitors to Central Oregon in 2015 was up by a full 6 percent as compared to 2014. These tourism dollars help to create more jobs and grow our local economy. Growth happens when life is good.

A number of factors contribute to our growth and these are listed below – the information in this blog was compiled from various periodicals, market stats based on the MLS trends and data as of June 11th 2016.

PROPERTY MARKET

Good news for homeowners in Bend. The median sale price for homes in the Bend area held steady in May, equaling the April figure of $380,000. This median price is 12.5% higher than last year. The Bend area residential housing market continues to outpace year-ago sales levels as seen the following statistics with a slowing of new construction sales in Northwest Crossing.

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POPULATION GROWTH

Central Oregon population continues to increase at a measured pace. In May, the U.S. Census Bureau released 2015 population estimates for municipalities showing Bend with 87,014 inhabitants, up 3.4% from 2014. This is a 13.5% increase from the 2010 U.S. Census figure.

Other incorporated cities in the three Central Oregon counties produced population increases as well, most clustered between 2% and 3%.

Numbers are shown in the accompanying table. The Census Bureau released 2015 estimates for counties earlier in the year are shown in the table below.

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You may wonder where is this growth coming from? Other states, by and large. According to Business Insider, which crunched Census Bureau numbers, the Bend-Redmond Metropolitan Statistical Area (Deschutes County) ranked seventh among urban destinations for relocation and the only one in the top 10 not in Florida or the Myrtle Beach area.

 EMPLOYMENT

Growth needs to find balance in job opportunities and the Deschutes job count is on an upward trend. The Oregon Employment Department figures for April show much better job performance in Central Oregon than earlier predictions indicated.

Deschutes County added 5,140 new jobs since last April; this represents a gain of 7.1%. More than 2,080 jobs were added in April 2016. There are usually increases due to seasonal hiring especially in construction, leisure and retail, but there does appear to be a strong job growth in less seasonal industries such as professional business services and manufacturing.

PROJECTS

Low-income housing is planned this summer on multi-family apartments in Bend and Redmond that qualify as affordable housing. These projects are scheduled for completion next year for tenants that must meet income restrictions. Housing Works is a local housing authority in Central Oregon and this workforce house project will consist of 53 two and three bedroom townhomes in two adjacent communities.

If you’re looking to buy or sell a home, please reach out to me. I am here to help with any questions you have. Call my cell phone (541) 390-0595 or email me at selenamcneill@yahoo.com. You can also explore my website at www.selenamcneill.com

Thank you for taking the time to read my blog!

 

 

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