Bend, Redmond home sale prices hit records in May

Amid all the ups, downs and cross-currents in the local and national economy, Bend’s median home sale price set yet another record in May, reaching $466,000, an appraisal firm reported Tuesday.

That’s an increase of $3,000 from April, which also set a record with an $18,000 jump from the previous month, according to residential appraiser Donnie Montagner of Beacon Appraisal Group in Redmond.

Montagner noted that Redmond did much the same, with a median home sale price up $2,000 to a record $328,000 in May.

The number of home sales also jumped as spring gave way to summer, with 232 sales in Bend and a record 109 sales in Redmond.

” Interestingly, the (single-family residential) inventory level in Bend and Redmond increased slightly, to around a three-month supply, ” Montagner wrote. ” Perhaps a push-back on prices? Only time will tell. ”

Since Bend’s median sale price of $325,000 four years ago, in May 2015, the appraiser noted the annual increase has been about 9% a year in Bend and about 8% in Redmond.

The days on market for homes in Bend and Redmond remains below three months, he said.

By comparison, May’s median home sale price in Sisters was $488,000 last month, $630,00 in Sunriver, $270,000 in La Pine and $237,000 in Jefferson County and Crooked River Ranch.

You can find the full report at: https://beaconappraisal.net/site/ wp-content /uploads/2019/06/BEACON-REPORT-JUNE-2019.pdf