Median home prices in Bend and Redmond rose last month, compared to February, according to a report released Tuesday by the Bratton Appraisal Group.
The median price in March for a single-family home in Bend reached $270,000, nearly 15 percent higher than February’s median, according to the report. The data used in the report comes from the Central Oregon Multiple Listing Service. The last time Bend’s monthly median price approached that level was in October 2008, when it hit $278,000, according to the Bratton Report. However, median prices fluctuate from month to month.
Sales of single-family homes last month in Bend increased more than 50 percent, from 108 in February to 163 in March. Inventory stood at about 2½ months, according to the report.
In Redmond, the median price for a single-family home last month reached $164,000, an increase of about 7 percent over February. Sales went up, too, with 42 homes sold in March, an increase of more than 30 percent over February. Inventory in Redmond stood at about 3½ months, according to the report.
— Bulletin staff report