Bend’s real estate market began the turn to fall in September as the median home sale price dropped $35,000 from its August record high, a monthly report from Redmond’s Beacon Appraisal Group LLC said Monday.
Despite the drop, Bend’s median home sales price of $440,000 was still $15,000 above the median price of a year ago, in September 2018.
The number of Bend home sales also dropped for the first time in four months, to 213, while the average days on market rose back to 77 days, the same length seen last spring.
Bend’s new home building permits saw a noticeable drop, from 51 in August to just 25 in September, the lowest figure seen in recent years and well below the peak of 100 seen in October of last year. The inventory of homes on the market held at about three months.
Redmond also saw a decline in its median home sale price, though not as steep as Bend, from the record $338,000 of August to $325,000 in September, as home sales fell from 104 in August to 88 in September. New building permits rose to 45, up 10 from August, as Redmond also has about three months of inventory on the market.
Other median home prices for September include $480,000 in Sisters; $519,000 in Sunriver; $287,000 in La Pine; $206,000 in Jefferson County/Crooked River Ranch, and $248,000 in Crook County.
See Beacon Appraisal’s full report here.