Home prices continued to rise in Bend and Redmond last month, with the median price for a single-family home in Bend hitting another record: $475,000, according to The Beacon Report.
In Bend, the median price in August went up about 1% from July’s median, according to the report from the Beacon Appraisal Group of Redmond. It increased about 10.2% over the median price in August 2018, according to the report. The median price represents the midpoint, with half the sales above and half below.
The Bend-area market recorded 252 single-family home sales in August, 13 more than in July. In August 2018, 260 homes sold in Bend, the report stated. Homes sold in Bend spent an average 64 days on the market last month, compared to 59 days in July and 73 days in August 2018.
In Redmond, the median price for a single-family home in August hit $338,000, a 7.3% increase over July and a 10% increase over August 2018, according to The Beacon Report. Last month, 104 homes sold in Redmond, four more than in July. In August 2018, 103 homes sold.
The homes sold spent an average 79 days on the market in August, 17 days more than in July. In August 2018, the average was 91 days.