The Bend median price of a single family home declined by $100,000 in November to $700,000, the lowest price since January, according to a monthly housing report.

The one month price decrease comes despite 21% of single family homes selling for more than $1 million in November. In October, when the median sales price spiked at $800,000, more than 35% of the homes sold for more than a million, according to the report.

In addition, the amount of time it takes to sell a home increased to 51 days, according to the Beacon Report LLC of Redmond.

“October was an anomaly,” said Donnie Montagner, owner of Beacon Appraisal Group of Redmond. “The amount of days on the market is not surprising given the seasonal decline. This is not alarming.”

In the time before the pandemic rise, the average time a home took to sell was about 80 days, Montagner said.

in Redmond, there was a slight decline in the median sale price, but the market has been relatively stable over the past few months, Montagner said. However, the past four months are slightly lower than seen in November 2023 to February.

The median sale price in Redmond has hovered around $500,000.

“The Redmond market has been on an even keel,” Montagner said. “But the last three months Redmond has been stale. Redmond is a reasonable alternative to Bend and the market has been relatively stable. It’s even cheaper than Missoula, Montana.”

The Beacon report uses the median sales price, which is the midpoint value of all transactions in a month. It is affected by how many homes sell in the million or more price range.

In Sisters, the median sales price in November was $700,000, down just $2,000 from October, according to the report. A four month supply of homes remains on the market, the same as the month before, according to the report.

In Sunriver, the median sales price of a single family home soared to $1.6 million in November, compared to October’s median sales price of $790,000. In November, a four month supply of homes remains on the market, the same as October, according to the report.

In La Pine the median sales price of a single family home in November was $338,000, down from October’s median sales price of $410,000, according to the report. An eight month supply of homes remains on the market, the same as the prior month.