Bend, Redmond housing markets see spring upswing in sales; Bend’s median price falls $46,000, Redmond $4K

REDMON, Ore. (KTVZ) -- The Bend and Redmond single-family home markets saw a significant increase in the number of sales in April and the marketing times in both areas declined, Beacon Appraisal said in its monthly report, issued Tuesday.  

The Bend median sale price declined $46,000 in April, to $707,000 while Redmond's median sale price was mostly stable in April, dropping $4,000 to $533,000.  In Bend, about 20% of sales were for $1 million and over in sale price, appraiser Donnie Montagner said.

According to FRED economic data, the 30-year fixed rate was around 7% in April. 

"The increase in the number of (home) sales this time of year is consistent with the historical Central Oregon real estate seasonal cycle," Montagner said.

SFR inventory levels at certain price points in Bend and Redmond also increased last month, he noted.

There is a nearly eight-month supply of single-family residential properties in Bend in the $1.6 to $1.8 million price range and slightly over a nine-month supply of SFR properties in the $1.8 M+ price point.

In Redmond, homes priced between $650,000 and $800,000 range from a six- to seven-month supply.