Bend home prices set new record – in January, no less

Few people would be surprised to hear there were fewer than half the Bend home sales in January than there were last June. But January also marked another record median sales price of $450,000 – clipping by $1,000 the previous peak, seen last June.

There were 261 Bend home sales last June, and just 125 in January.

“Like before, the $450,000 median sale price may just be a peak, and we will be able to see a more consistent trend in the following months,” said Donnie Montagner of Redmond-based Beacon Appraisal Group, who issued his January report on Friday.

Nevertheless, it was quite a jump from the $432,000 median price seen in December, though there were 45 fewer sales as 2019 began than in the prior month. The average days on market rose from 96 to 110 in January, while the number of building permits issued in Bend fell to 44, from 63 in December. There were still two months of inventory, the same as the past two months.

Redmond’s median sale price also rose in January, to $305,000, up $5,000 from December, as sales dropped from 63 in December to 49 last month. But Redmond’s median home sale price per square foot hit a record $194 in January, and the inventory dropped from three to two months.

By comparison, the median sales price in Sisters for January home sales was $361,000, in Sunriver $464,000, La Pine $282,000, Jefferson County/Crooked River Ranch $171,000 and Crook County $243,000.

To see the full report: https://beaconappraisal.net/site/wp-content/uploads/2019/02/BEACON-REPORT-February-2019.pdf