Hot August: Bend, Redmond again see record home sales prices
It’s getting to be a broken record, but it’s not: Even with all the talk nationally of possible recession and a slowing real estate market, Bend and Redmond both hit new record highs for median home sales prices as the summer sales season drew to a close.
The Beacon Appraisal Group’s month report noted a record Bend median sales price in August of $475,000, up $5,000 from the July figure. Redmond, meanwhile, saw a $21,000 jump in August, to a record median price of $336,000.
Appraiser Donnie Montagner said there’s been an annual increase in Bend and Redmond median home sales prices of nearly 9% since 2015.
” What I find interesting is, my records show that (in) the mid to late 1990s, there was an annual rate of increase of 5%-9%, which was prior to the unreasonable increases that preceded the recession, ” Montagner wrote.
The number of Bend-area home sales in August rose to 252, the highest in a year but still below last year’s peak of 261 sales. Inventories remain at about three months. More than 100 Redmond homes sold last month, a fairly steady number over the summer.
