Bend sees median home sale price drop $45,000 in October, to $680K; Redmond’s declines $47,000 to $470K

REDMOND, Ore. (KTVZ) – Central Oregon has seen home prices rising fast in recent years, but the latest monthly report from Redmond’s Beacon Appraisal Group is more evidence the region is not immune to the market forces, from inflation to rising interest rates, that have sent prices falling elsewhere.

The October report shows Bend’s median home sale price dropped $45,000 last month, to $680,000, the lowest level since the start of 2022. The number of sales also fell some, to 160, lowest since last winter, while the days on market for sold properties rose to an average 28 days, highest since the spring of 2020, as the COVID-19 pandemic hit.

Redmond, meanwhile, saw its median home sale price dropped $47,000 last month, to $478,000, the lowest price since last December. Sales actually bounced back, from just 45 in September to 73 last month. Days on market for sold properties rose to 24 days.

Here's the full October report on Central Oregon home prices: