We have hiked to Green Lakes multiple times. However, fewer hike this popular trail when the weather turns cold and cloudy. Our experience hiking to Green Lakes on 10-14-23 was the first we had this year. The trail passes to Green Lakes are so hard to get that if you are 30 seconds past 7 am on the US Forest Service website, you will be too late. Despite trying weekly all year, last Saturday, the last weekend of the year where passes are required, we finally obtained two. 

The weather was cloudy and cool, and during our hike the expected "ring of fire" eclipse occurred, resulting in a drop in temperature and a darker sky. However, after that event, the rest of our hike up to Green Lakes was uneventful, outside of hitting more and more snow the higher we climbed. At the second log bridge we put on our microspikes for safety against slippery conditions and the rest of the hike was fine. We had to do some postholing once we reached the first lake, but it was well worth the effort to travel to the far side which fewer people travel to, but is among our favorite spots due to the beautiful views of South Sister which can be mirrored in the lake. We also trekked a bit up the east side of the largest Green Lake, but decided against going further and returned back after enjoying lunch and the views.

On our hike back to the trailhead, we met a good number of hikers coming up in the later afternoon.  Our morning experience was solitary with no one visible during our hour at the lake.

There are More Bend Luxury Homes on the Market

The Bend real estate market has been in transition since Covid ended, with the demand for homes remaining strong, but rising mortgage interest rates greatly impacting the buying power of would-be homebuyers.  It has been three months since we last looked at the Bend luxury homes. During this time, there have been changes with fewer new listings, more homes on the market, and fewer sales. All four categories we look at with high end home sales are up significanty with available inventory.

We are pushing closer to a neutral market with the highest prices where there is 5 to 6 months of inventory. We are not there yet, but there has been significant change over the past twelve months where higher priced homes are slower to sell.

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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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