For the first time ever, Bend’s single-family home median sales price jumped more than $100,000 in April to $832,000, according to a monthly housing report.

The median sales price is affected by the percentage of homes sold for more than $1 million. In April, more than a  third of the single-family home sales in Bend were more than $1 million, according to the Beacon Appraisal Group of Redmond monthly housing report. 

“There was more market activity in April, which is consistent with the past seasonal market cycle, ” said Donnie Montagner, owner of Beacon Appraisal Group of Redmond.  “Residential properties in Bend sold at a premium when compared to residential properties in Redmond, and Redmond is reflective of a market with far fewer homes selling over a million”

When more homes sell at higher prices, it  drives up the median sales price, Montagner said. 

Only two times since July 2023 has the median sales price of a single-family home in Bend hit $800,000 or above, and at those times, 35% of the homes sold were for more than $1 million. 

 

At the same time, the number of days a home is on the market dropped to 23 days in April, compared  to 32 days in March. Still, that is much higher than what it was at the same time a year ago when it was 10 days, according to the housing report. 

There is a four-month supply of homes for sale in Bend, according to the housing report. 

Redmond also experienced a price bump to $540,000 in April, which is about the same as it was the year before, according to the report. In March the median sales price of a single-family home was $523,000.

The number of days it takes to sell a home in Redmond dropped to 24 days last month  from 34 in March, according to the report. The amount of homes on the market held steady at a two-month supply, which it has been at since November, according to the report. 

In Sisters, the median sales price of a single-family home was $771,000 in April, compared to $734,000 in March, according to the report. The amount of inventory remained at four months, the same as it was in March. 

In Sunriver the median sales price of a single-family home in April was $810,000, down from March’s median sales price of $810,000, according to the report.  The inventory level remained at four months in Sunriver, according to the report.

In La Pine the median sales price of a single-family home in April was $452,000, up $32,000 from March, according to the report. There is a five-month supply of homes on the market currently, the same as it was in March.