A tale of two cities: Bend’s median home sales price drops sharply, while Redmond’s remains relatively stable

REDMOND, Ore. (KTVZ) -- At a time of year when home sales traditionally heat up, Bend's average sales price dropped nearly $80,000 in June and nearly $140,000 over the past two months, to $693,000 - the lowest figure in 18 months, a new report says.

Beacon Appraisal Group's Donnie Montagner said Wednesday that Bend has about a five-month supply of homes on the market.

While Bend home sales rose last month, to 166 - the highest number in two years - fewer involved properties listed at over $1 million, about 18% of all sales, Montagner said.

The Bend median sales price dropped to the lowest figure since February 2024, when it was $683,000. Back then, sales over $1 million made up almost 16% of the total.

Redmond, by contrast, has seen fairly consistent pricing so far this year, with the median price rising last month by $16,000 to $530,000. Its inventory remains at about a 3-month supply.

Here's the full report, including quarterly figures for smaller markets around Central Oregon: