The latest Beacon Report is in! This month we see the slightly cooler market conditions in Bend continue, while most Redmond housing stats continue an upward climb.
In Bend, the median price for a home dipped from $650,000 in July to $635,000 in August. This represents a 2% decrease, month over month, but still a large increase — 20%— year over year.
The average price per square foot in Bend dipped $4 since July, from $329 to $325, a decrease of 1%, month over month.
The average number of days a Bend home spends on the market rose one day, from five days in July to six in August.
The number of home sales in Bend, Oregon dropped from 246 in July to 220 in August. Months of inventory for sale in July were 1.0 months and remained 1.0 in August. This stat represents the current supply of homes offered for sale, relative to the number of homes being purchased. So for August, we have one month worth of inventory, given the monthly sales results.
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. Buyers, are you prepared to offer earnest money? Check out the Bend Relo blog to learn more.
Reach out to Bend Relo at Fred Real Estate Group for a free home valuation today.
REDMOND: HOME SALES UPDATE
Contrary to Bend, Redmond market stats are mostly unwavering, with a slight increase in home prices.
Median price for Redmond area homes was $450,000 in August, up 3.1 % from $436,000 in July, with the average price per square foot up $18, from $250 to $268.
The only indication of a change is in home inventory, which moved up from .7 in July to 1.0 in August, and in Days on the Market, which moved from 4 days in July to 6 in August.
SUNRIVER: HOUSING MARKET STATS
Homes spent an average of 6 days on the market in Sunriver in August, one more than in July. Median prices came down from $775,000 in July to $715,000 in August, a decrease of 7.75%.
Current Sunriver inventory of available homes continues to be very low, with .55 months of inventory for sale — nearly half of what is available in Bend and Redmond.
SISTERS: HOUSING MARKET UPDATE
The average home for sale in Sisters, Oregon continues to spend 5 days on the market, with a median sales price of $562,000, an increase of 2.18% since July.
Read the full Beacon Report BEACON-REPORT-September-2021
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