Bend, Redmond home sales swell to a 2-month supply

Published 11:27 am Tuesday, August 9, 2022

The median marketing time for a single-family home in Bend and Redmond increased from less than a week to 10 days in July, double what it was in May when it took five days to sell a home, according to a monthly real estate report.

What’s more, about two months worth of homes are on the market now, according to the monthly Beacon Report, which is produced by the Beacon Appraisal Group in Redmond.

Still supply remains low, indicating that there’s ample demand for the inventory available, according to the report.

In July the median sales price of a single-family home in Bend was $762,000, about the same as it was in April, according to the report.

About 50 of the sales in Bend were cash buyers and 115 were conventional loans, according to the report.

The Beacon Report uses the median sales price, which is the midpoint value of all transactions in a month.

In Redmond, the median price of a single-family home dipped slightly to $505,000 in July, compared to $530,000 in June, according to the report.

The bulk of the sales in Redmond in July were conventional mortgages, compared to 16 all-cash sales.

The median sales price of a Sisters single family home was $623,000, compared to $690,000 in June, according to the report.

In Sunriver the median sales price of a single family home was $975,000, down $90,000 from June, according to the monthly report.

And in La Pine, the median sales price of a single family home was $470,000 in July, compared to $460,000 in June.

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