Bend’s single-family home sales continued to climb in July with about a third of the sales in the million-dollar or more range, according to a monthly real estate report.

Bend home prices tick up, with nearly a quarter of sales $1 million or more

Bend home prices tick up, with nearly a quarter of sales $1 million or more

The median sales price of a single-family home in Bend jumped to $800,000 in July, compared to $785,000 in June, according to the monthly report produced by the Beacon Appraisal Group in Redmond. The current median sales price is the highest it’s ever been in Bend.

Bend’s home prices rise, Redmond’s remain stable

Bend’s home prices rise, Redmond’s remain stable

The record median sales price at its previous high was $773,000 set in March 2022.

“Bend has been moving in this higher price direction since 2020,” said Donnie Montagner, owner of Beacon Appraisal Group.

“There currently are only five active listings in the $450,000 price range compared to the 35 listings in the $1.8 million price point.

“The upper end of the market is driving the median sales price in Bend,” Montagner said.

The report uses the median sales price, which measures the midpoint value of all transactions in a month.

In Bend, there is about a two-month supply of homes for sale. In the upper price range, that stretches to about six months, he said.

In Redmond, the median sales price of a single-family home rose to $500,000 in July, still below the peak hit in August 2022 when it rose to $542,000.

Like Bend, Redmond has about a two-month supply of homes on the market. The $600,000 to $700,000 market in Redmond has a seven-month supply of homes for sale, according to the report.

In Sisters, the median sales price of a single-family home dropped to $685,000 in July, down from $773,000 in June, according to the report. There is a three-month supply of homes on the market, the same as in June, according to the report.

The median sales price of a single-family home in July in Sunriver was $980,000, down from the $1.1 million price in June, according to the report. Sunriver has a two-month supply of inventory on the market, the same as the prior month, according to the report.

And in La Pine, the median sales price of a single-family home was $430,000 in July, up a tad from June when the price was $429,000, according to the report. The community has about five months worth of inventory for sale, the same as the prior month, according to the report.