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Bend home sales prices on rise again, Redmond holds steady as spring sees boost in interest

Beacon Appraisal Group

REDMOND, Ore. (KTVZ) – Bend and Redmond median home sale price rose a bit in March and Redmond's held fairly steady amid signs the Central Oregon real estate market is back to the cycles seen in the years before the pandemic, Redmond’s Beacon Appraisal Group reported Thursday.

Bend’s median home sales price rose by $5,000, to $685,000 in March, back to the figure seen in January and within the narrow range experienced in up-and-down fashion since last fall.

Bend’s home sales also rose again, to 125, and the days on market fell sharply to the lowest figure in months, from 51 days in February to just 13 days in March.

Redmond, meanwhile, saw its median sales price slip by just $1,000, to $439,000, as the sales number rose slightly, to 42, and the days on market for sold properties dropped to 27 days, again the lowest in several months.

"The Central Oregon (single-family home) markets appear to be experiencing an increase in activity and are following the seasonal cycle trends seen prior to 2020-2021," appraiser Donnie Montagner said. "Inventory levels in Central Oregon remain at low levels going into a busy season, although ... market in Redmond had a slight increase, to about a 1.6-month supply."

 Montagner noted that the number of Bend home sales in the $1 million+ market segments fell to 19 last month, down from 27 sales in February.  

Here's the full report:

Article Topic Follows: Business

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