Median home prices drop in Bend after hitting record high in April

Published 1:34 pm Friday, July 11, 2025

A pair of homes are for sale in a Bend neighborhood.

Just two months ago, Bend’s median home price was the highest recorded in a decade, but in June the median price sunk to the lowest in 16 months, according to a monthly housing report.

The price swings in the housing market could be signs of a market in flux, or could just be the effect of a larger inventory of million-dollar-plus homes for sale, said Donnie Montagner, owner of Beacon Appraisal Group of Redmond, which produces the monthly housing report.

“The market is giving mixed signals,” said Montagner. “Some Realtors are saying they are busy, others are not. It’s becoming a buyer’s market, but it all depends on the price point.”

In June, the median sales price for a single-family home in Bend was $693,000, a decline of $79,000 from the month before and $139,000 lower than a record high median price set in April, according to the report.

In Bend, there’s currently an 11-month supply of homes in the $1 million-plus price category, but in the $350,000 price range, there’s only a month’s supply of homes on the market, Montagner said.

Across all market segments, there was a five-month supply of homes on the market in Bend, Montagner said.

The market has been fairly steady, said Karen Wilson, a real estate broker at Cascade Hasson Sotheby’s International Realty in Bend.

“Bend is a unique market,” Wilson said. “We are still a destination type market. We don’t have a lot of manufacturing jobs and regular worker type jobs that attract people int he $300,000 to $700,000 price range. We do have a lot of people in the tech, resort industries and retirees who have chosen Bend because of the lifestyle.”

The monthly housing report uses the median sales price to measure the midpoint value of all transactions in a month.

Meanwhile in Redmond, the housing market has remained fairly stable, said Montagner. Although, he noted that the number of building permits in Redmond shrunk to nine in June from the mid-20s for the three months prior, according to the report.

In Redmond the median sales price of a single-family hoe was $530,000 in June, up a smidge from May when it was $514,000, according to the housing report.

“In Redmond, you can get the same housing product but cheaper, but the taxes are higher,” Montagner said. “A lot of people, though, want to forego the savings and live in Bend.”

There remained a three-month supply of homes on the market in June, the same as it was in May.

“Redmond has been a consistent market,” Montagner said. “Bend is usually the leader and shifts the tone. In the past Bend led the charge and it took years for the other communities to show a similar increase.”

In Sisters the median sales price of a single-family home was $679,000 in June and there was a five-month supply of homes for sale, according to the housing report.  That’s a steep decline from May, when the median sales price of a single-family home was $794,000. The inventory in sisters in May was four months.

Moving south, Sunriver’s median sales price of a single-family home in June was $869,000, compared to more than $1 million in May. The amount of inventory in Sunriver in June was nine months, a five-month increase over May’s inventory levels.

And in La Pine,  the median sales price of a single-family home was $390,000 in June, according to the housing report. That’s a $25,000 increase in the median sales price over May, according to the report. The inventory also increased in June to seven months compared to five months in May, according to the report.

About Suzanne Roig

Suzanne Roig has been a reporter with The Bulletin since 2018 covering business and health in the region. When she's not working she enjoys taking her dog, Pono, out on hikes. She can be reached at 541-633-2117, suzanne.roig@bendbulletin.com.

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