Bend, Redmond home sales prices set new records (again) to start 2021

REDMOND, Ore. (KTVZ) – Bend’s median home sales price zoomed to a new record of $580,000 in January, while Redmond's reached a record $377,000, Beacon Appraisal Group reported Sunday.

Bend’s January median sales price (half the sales above, half below) is $20,000 higher than the previous record, set in October, and up $56,000 from the median price reported for sales in December.

Appraiser Donnie Montagner noted that inventory levels remain very tight – less than a half-month in Bend, Redmond and most smaller markets in Central Oregon.

Bend reported 153 home sales in January, the lowest figure since last May, when there were 137 sales, and only about half the record peak of 318 sales set in July. Bend’s days on market for sold properties held at a record low of just four days. And the median sales price per square foot also edged upward to a new record of $283.

In Redmond, while home sales for the month dropped to 66, tied with the recent low seen last May, the average days on market also dropped to a record low four days and the median sales price per square foot rose to a record $219.

In other markets, there were 11 January home sales in Sisters, with a median price of $484,000; 10 sales in Sunriver, at a median price of $793,000; six La Pine sales, at a median price of $357,000; 14 sales in Jefferson County/Crooked River Ranch, at a median price of $297,000; and 16 sales in Crook County, at a median price of $333,000.

Read the full report here: https://beaconappraisal.net/site/wp-content/uploads/2021/02/BEACON-REPORT-February-2021-.pdf