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Broken Top Real Estate Market Trends
Broken Top is a Recognized Bend Oregon Luxury Subdivision
Started in 1993, the Broken Top community and golf club have been one of Bend's premier subdivisions for many decades. Situated in Bend's west side, the private Morrish-Weiskopf designed 18 hole golf course and club have hosted professional and local tournaments and have been member owned for the past few years. Residences in the gated community include custom designed luxury homes on large lots, luxury townhomes, and a handful of vacation rentals which can also be used as year-round dwellings.
Market Trends for Broken Top Single Family Homes
Broken Top real estate sales experienced the same pattern that much of Bend did during the Covid-19 pandemic with home prices and demand rising dramatically during 2020-2021, and then leveling off once interest rates doubled in 2022. Today, median sales prices have dropped from their 2022 peak with inventory levels and the number of sales rising.
While the median sales price is down, the number of Broken Top homes for sale is up over the past 12 months, as are listings and sold properties. More Broken Top homeowners are listing and selling post Covid than is seen in other Bend neighborhoods. A reduction in home prices can increase Broken Top home affordability and enable more to purchase despite higher mortgage interest rates. In addition, there are still a large number of cash buyers purchasing Bend luxury homes. This may be why the trends are different in Broken Top than seen in other subdivisions.
With more homes to pick from, there are more chances for Broken Top listings to sell. The twelve month change in Broken Top home sales ending September 2023 is an increase of 135.7% at 33 homes versus the low in 2022 at 14. For a luxury community such as Broken Top, this is a difference of over $26,000,000 in sales volume.
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