The latest Beacon Report is in! At first glance it appears that August 2021 real estate market trends in Central Oregon have shifted slightly, indicating a cool down in activity. However, just as a slight dip in temperature doesn’t mean the dog days of summer are over, neither do fractional fluctuations mean home sales have cooled significantly in Bend and Central Oregon. In Bend, the median price for home sales continued to rise, even as inventory increased.
The median price for a home in the Bend area in Jult was $650,000, up from $640,000 in June. This is an increase of 1.5%. The average price per square foot climbed $4, from $325 to $329, an increase of 1.2%.
The average number days a Bend home spends on the market rose one day, up from four to five.
Buyers, should you waive the appraisal contingency? Check out the Bend Relo blog to learn more.
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The number of home sales in Bend, Oregon dropped from 247 in June to 246 in July. Months of inventory for sale in May 2021 were 0.5, compared to 1.0 months this past month. Therefore, Inventory has doubled since May 2021. As the market cools, it’s all the more important to work with a team that can put your home in its best light with professional staging, photography, video, and cross-media marketing.
REDMOND: HOME SALES UPDATE
Median price for Redmond area homes was $436,000, down 3.3 % from $451,000 in June, with the average price per square foot up $8, from $242 to $250. Redmond homes spent an average of 4 days on the market, holding steady for July.
SUNRIVER: HOUSING MARKET STATS
Homes spent an average of 5 days on the market in Sunriver in July, with a median home sales price of $775,000. Current inventory of available homes continues to be very low.
SISTERS: HOUSING MARKET UPDATE
The average home for sale in Sisters, Oregon spent 5 days on the market in July, with a median sales price of $550,000, down from $610,000, a dip of 9.8%. Inventory is slightly up, but remains well below numbers from 2019.
Read the full Beacon Report HERE.
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