The median sales price of a single-family home in Bend and Redmond may have stabilized in August, while inventory increased, according to the monthly Beacon Report on home sales data.
While the price of a single-family home in Bend is still 16% higher than it was in September 2020, it was about the same price as it was in July, according to the monthly report from Beacon Appraisal Group of Redmond. In Redmond, the median sales price of a single-family home was 24% higher in August compared to September of 2020, according to the report.
In Bend, the median single-family home price dropped $15,000 to $635,000, according to the report. The median sales price for a single-family home peaked in Bend in April at $651,000, according to the report. And inventory increased slightly in Bend to about four weeks worth of homes for sale in August, according to the report.
The Beacon Report uses the median sales price, which is the midpoint value of all transactions in a month.
In Redmond, according to the report, the median sales price of a single-family home appears to have stabilized since May at $450,000 as of August, nearly $100,000 more than it was a year ago. And like Bend, Redmond had about a month’s worth of inventory for sale, according to the report.
The amount of single-family homes for sale in Sunriver and Sisters remained under a month, meaning it would take less than a month to sell all the homes up for sale in these two communities. The median single-family home sales price in Sunriver was $715,000 and $562,000 in Sisters, according to the monthly report.