The median sales price of a single-family home in Bend jumped again in November to $683,000, according to a monthly real estate report.

In November 2020, the median price of a single-family home in Bend sold for $540,000, and the same period in 2019, the median price of a single family home was $431,000.

Juana Beede, owner of EXIT Realty Bend, said it’s because of supply and demand. Today it takes 11 to 17 days for a single-family home to sell.

“It’s still good news for buyers and sellers,” said Beede, who has been in Bend real estate for 14 years. “Mortgage rates are historically low.”

In Bend there is about a half a month’s worth of inventory available.

In Redmond, however, the median price of a single-family home held steady in November — the third month in a row — at $450,000, according to the monthly report from Beacon Appraisal Group LLC of Redmond. The report uses the median sales price, which is the midpoint value of all transactions in a month.

The average number of days on the market in Redmond, however, is about six, far lower than the 130 days in February 2020, according to the monthly report

“The town is growing,” said Beede. “There’s a lot of newcomers coming from out of state and a lot of move-up buyers.”

The low interest rates make homebuying more affordable, Beede said. The average monthly rental price in Bend is about $1,600, but a mortgage with principal and interest only is about $1,200, and a down payment can go further with the low rates.

In Sunriver, the median sales price was $965,000 in November, compared to $858,000 in October, according to the report. In Sisters the median sales price was $744,000 compared to $610,000 in October.

Both communities had about a half a month’s worth of supply in inventory, compared to a three-month supply in La Pine where the median sales price for a single family home was $371,000.