Bend’s median home sales price jumped $76,000 — in May (yes, in a single month), report shows

Even Redmond appraiser 'had to double-check it' - and cash sales are surging

BEND, Ore. (KTVZ) – There might still be at least a few long-time Bend residents who can remember when you could buy a pretty decent home in town for $76,000.

Bend’s median home sale price rose that much last month – that’s right, in May alone – from $669,000 to $745,000, according to this week’s monthly report from Beacon Appraisal Group of Redmond.

In. A. Month.

“Took me by surprise too – had to double-check it,” appraiser Donnie Montagner said Thursday.

The percentage jump in Bend's median home sales price last month might be a bit less of a wow, at about 11.3%.

Still, compare that to Redmond, where the median price rose as well – but by a relatively sane $3,000, to $472,000. That’s just 0.6% rise for the month.

Looking back, Bend’s median home sales price is only up $5,000 from a year ago, as the figure slipped down into the $600,000s for the past seven months. But the new figure isn’t Bend’s record median sales price – that was set in March of last year, at $773,000.

So it’s all relative, as the ups and downs of real estate usually are.

“May was a good month in Bend,” Montagner said in his report cover note, though the 157 home sales, highest figure of the year, is still down 61 sales from May of 2022. While conventionally financed sales held stay at 85, the number of cash sales jumped to 60 – the highest since September 2021, he noted.

Here's the full Beacon Report with all the May home sales and building stats for Bend, Redmond and other areas of the High Desert: