Recently soaring Bend, Redmond home prices are now ‘stabilizing,’ appraiser says

REDMOND, Ore. (KTVZ) – Here’s a word not heard often about Central Oregon’s sizzling real estate market for some time – “stabilizing.”

But that was the word in the August home sales and prices report from Beacon Appraisal Group of Redmond, issued Wednesday.

Appraiser Donnie Montagner said the median sales price been stabilizing at $630,000 to $650,000 in Bend and $436,000 to $450,000 in Redmond for the past several months. But they have risen 16% and 24% respectively from a year ago.

Still, by other measures, the market is still very strong. Inventory levels are tight, at just under a month in Bend, while the median marketing time to sell a single-family home in Bend and Redmond has been less than a week for nearly a year, since the last quarter of 2020.

You can find the full August report here.