Bend median home sales price hits record $449,000

The Bend area’s still-hot real estate market soared to record territory in June, with the median home sales price up $34,000 in just one month, rising more than 8 percent to $449,000, an appraisal firm reported Saturday.

(Update: Adding appraiser’s comments on numbers)

The new record figure is also more than $30,000 above the record median sales price peak of $418,000 seen last summer, according to a report from Donnie Montager of Beacon Appraisal Group in Redmond, based on MLS figures for single-family residential properties.

The number of Bend-area home sales also clipped the record last month, reaching 261, one more than the previous peak seen in June of 2015 and two more than last summer’s peak of 259 sales in August.

The average days on market also dropped to 64 days, close to last year’s record low of 63 days.

“I am not sure if the median sale price will remain at this level – it may adjust over the next few months,” Montager said Sunday. ” Data over the next few months will provide a good idea of the price trends.

Montager noted that “limited sales in a price range can temporarily skew the median sale price, so single-month activity is questionable. It is a record though! ”

Redmond’s median sales price last month rose $3,000, to $298,000, while Sisters saw a similar surge in second-quarter median sales prices as Bend, jumping from $379,000 to a record $427,000.

Sunriver’s median sales price in the second quarter rose to $535,000 (though still well below record territory of $628,000 more than a decade ago, in 2007). La Pine’s second-quarter median sales price rose to $240,000 from $213,000 the previous month.

The second-quarter median home sales price for Jefferson County and Crooked River Ranch of $203,000 was a sizable gain from the previous quarter’s $185,000 figure, but Crook County’s median sales price fell $10,000 in the second quarter, to $230,000.