Bend median home price reached $409,000 in June

Published 5:43 am Thursday, July 20, 2017

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The median sales price for a single-family home in the Bend area hit $409,000 in June, climbing $13,000 above the peak reached in 2007 during the real estate boom.

June’s median increased 8 percent from May’s price, and it was 11 percent higher than the median price in June 2016, according to The Beacon Report, compiled by Beacon Appraisal Group.

The median price equals the midpoint, with half the homes sold at a price above it and half below.

In nominal terms, meaning not adjusted for inflation, Bend’s median price topped the pre-recession peak of $396,000 in May 2007.

Prices have climbed more dramatically over the past year in Redmond, where the median sales price in June was $295,000, up 21 percent year over year. Redmond’s June median price was 5 percent higher than in May.

The Bend real estate market saw 246 single-family home transactions in June, up from 216 in May. Homes were on the market for an average of 63 days, about the same as the two previous months, but shorter than in June 2016, when average time on the market was 81 days.

The Bend area had 628 homes listed for sale, a three-month supply based on the prior 12 months’ sales, as of Beacon’s report Monday.

Redmond had 90 single-family home sales in June, up from 75 in May. Homes spent an average of 75 days on the market.

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