Real estate tale of two cities: Redmond hits another home price record; Bend’s falls $45,000

REDMOND, Ore. (KTVZ) – Real estate markets have their ups and downs, but amid recent-record inflation and interest rate hikes, the median home sales price in Bend and Redmond went in opposite directions last month, the Beacon Appraisal Group reported Friday.

While Bend’s median sales price dropped by $45,000 to $717,000 in August, Redmond set yet another record, as its median price rose $37,000 to a median $542,000, the report said.

Appraiser Donnie Montagner noted that the Bend and Redmond home inventory rose to about two months, a level not seen in over two years.

Here's Beacon Appraisal's full report for August 2022: