Bend-area home prices still on the rise in February

But Redmond's median price fell a bit

REDMOND, Ore. (KTVZ) -- Bend-area home prices continued their steady climb of recent months in February, with the median price rising $11,000 to $460,000, an appraisal group's report said Saturday.

Home sales in Bend dropped a bit, to 127 last month, though that was still above the 106 sold in the snowstorm-hit month of February 2019, the report by Redmond-based Beacon Appraisal Group.

The average days on market dropped a bit, to 110 days, and building permits dropped from 60 in January to 41 in February.

Appraiser Donnie Montagner noted that the inventory remained low, about 1 1/2 months, similar to early 2017.

Meanwhile, the Redmond area's median home sales price fell a bit, from $330,000 in January to $317,000 in February, and sales also fell, to 54 in the month.

See the full report at: https://beaconappraisal.net/site/wp-content/uploads/2020/03/BEACON-REPORT-March-2020.pdf .