The Beacon Report – April 2020.
COVID-19 and impact on the Central Oregon real estate market:
The proclamation on declaring a national emergency concerning COVID-19 was issued on March 13, 2020. As to the relationship between COVID-19/policies implemented and the SFR market in Central Oregon, it is too early to see significant impacts.
There has been a slight increase in Single Family Residential (SFR) inventory and some have reported an increase in rental vacancy rates, but the SFR inventory and rental vacancy rates have been very low for a long time.
The median SFR sale price in Bend remains unchanged when compared to Feb/2020 and the SFR median sale price in Redmond has been trending in the $315k to $338k range since April 2019.
A link to the recent Beacon report is below and the reports induces the quarterly figures for the smaller market areas.
The Beacon Report is compiled each month by Donnie Montagner (State Certified Residential Appraiser) of Beacon Appraisal Group LLC with information obtained from the MLS of Central Oregon with permission from the Central Oregon Association of Realtors®.