Bend, Redmond home sale prices ease back a bit from record highs

But inventory still tight; homes on the market for average just four days

REDMOND, Ore. (KTVZ) – Bend and Redmond home sale prices in February edged back from the records set in January, with price declines also seen in most smaller markets around Central Oregon, Beacon Appraisals said Monday in their monthly report.

Bend’s median home sales price dropped $5,000, to $575,000 in the February figures, while the number of sales dropped to 117, lowest in two years.

The average days on market for sold properties remains an extremely fast four days, and the median sales price per square foot reached another record of $297. The monthly inventory remains very tight, up just a bit to over one-third of a month.

Redmond’s median home sales price dropped a similar $4,000, to $373,000, while sales dipped a bit, to 62 for the month. Like Bend, Redmond homes are on the market for an average of just four days. It’s inventory dropped to a record low .25 of a month.

Median prices in smaller markets include $443,000 in Sisters, $771,000 in Sunriver, $307,000 in La Pine, $273,000 in Jefferson County/Crooked River Ranch and $400,000 in Crook County.