Bend’s median home sales price hits a record (again), reaches milestone $800K; Redmond rises to $500K, not a record

About one-third of Bend home sales last month were for $1 million or more

BEND, Ore. (KTVZ) – You might say that record-breaking home sales prices in Bend are getting to be … a broken record. Not every month, but often enough to fuel its symbolic marker for the conversation over how to keep housing in the area from getting farther out of reach for so many.

The July report from Redmond’s Beacon Appraisal group said Bend’s single-family home median sales price in July rose by $15,000 to a record $800,000, a milestone that’s nearly $40,000 more than the peak a year ago.

Appraiser Donnie Montagner noted that nearly a third of last month’s 141 Bend home sales were for $1 million or higher.

The number of sales, however, is down to 141 for July, off 31 from a month earlier and 34 fewer than July of last year. Days on market for sold properties dropped to just nine days, about the same as a year ago.

There’s still a two-month supply of homes on the market overall, but Montagner noted an increase in some price ranges – as the $1.6 million to $1.8 million category is nearly a five-month supply and above $1.8 million is nearly a six-month supply.

Redmond also rose to a milestone, with a median home sales price of $500,000, though that’s still $42,000 lower than last summer’s record level. Redmond home sales dropped a bit, to 66 in July. Sold properties are on the market for about two weeks on average, and Redmond also has two months of housing inventory.