Summer is upon us, and things are cooking in the Bend real estate market! This month, Beacon Report for June offers the most recent numbers on median prices, days on market, and the current inventory of homes for sale in Bend and Central Oregon. Though the numbers have shifted slightly, trends remain the same. Demand is high, inventory is low, and homes are flying off the market.
BEACON REPORT FOR JUNE: BEND REAL ESTATE NOW
The median price for a home in the Bend area was $628,000, down from $651,000 in April. This is a decrease of just over 3%. The average price per square foot dipped $10, from $325 to $315, a decrease of 3%. From May 2020 to May 2021, Bend home prices have risen 41%.
The average number days a Bend home spends on the market held steady at 4 for April.
Check out the Bend Relo blog to learn more about strategies that make a difference, including what you need to know about earnest money.
You’re reading that correctly: Bend home prices are up 41% from this time last year.
According to Donnie Montagner of First American Title in Bend, “It is common for the Bend SFR market to show significant increases and declines in median sale prices due to the wide variations in SFR products within the market area. This most recent decline does not correlate with a declining market, as supply and demand components are basically unchanged. Strong demand coupled with very low inventory and short marketing times all point to a very strong seller’s market.”
Reach out to Bend Relo at Fred Real Estate Group for a free home valuation today.
REDMOND: HOME SALES UPDATE
Median price for Redmond area homes was $443,000, up 7% from $413,000, with the average price per square foot up $4, from $243 to $247. Redmond homes spent an average of 5 days on the market, up one day from April.
SUNRIVER: HOUSING MARKET STATS
Homes spent an average of 4 days on the market in Sunriver in May, with a median home sales price of $907,000. Current inventory of available homes continues to be very low.
SISTERS: HOUSING MARKET UPDATE
The average home for sale in Sisters, Oregon spent 3 days on the market in May, with a median sales price of $525,000, up from $434,000. As with the rest of Central Oregon, available inventory of homes is low.
Read the full report here.
how Can we help you?
Interested in moving cross-country?
Already live in the area and looking for a new place?
We've got you covered either way! Let's chat.