Bend area median home price hits $463,000 in April

(Stock photo)

Median home prices dropped in Bend and Redmond last month compared to August, but they remained higher in both cities compared to September 2018, according to The Beacon Report.

In Bend, the median price for a single-family home last month dipped to $440,000, a decline of about 7% from the record-setting price in August, $475,000. However, last month’s price was about 3.5% higher than the median price in September 2018, according to the report from the Beacon Appraisal Group of Redmond. The median price represents the midpoint, with half the sales above and half below.

The Bend-area market recorded 213 single-family homes sold in September, and they spent an average 77 days on the market.

In Redmond, the median price for a single-family home last month fell to $325,000, nearly 4% below August but nearly 5% above September 2018, according to the report. Last month, 88 homes sold in Redmond, and they spent an average of 72 days on the market.

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