The Beacon Report – April 2023.
The Central Oregon Single-Family Residential (SFR) markets appear to be experiencing an increase in activity and are following the seasonal cycle trends seen prior to 2020-2021. SFR inventory levels in Central Oregon remain at low levels going into a busy season. Although, the SFR market in Redmond had a slight increase to about a 1.6-month supply.
Last month, the Bend SFR median sale price increased slightly, and the median marketing time declined from 51 days in February to 13 days last month! The number of sales in the $1Mill+ market segments fell to about 19 sales, down from 27 sales in February.
The median sale price in Redmond stabilized around $440k and the number of sales has been trending upwards. The New SFR building permits in Redmond are on track with March 2022, at 30 permits last month. Most sales in Redmond (last month) are in the $400k to $500k price points.
Smaller Central Oregon SFR markets (Quarterly figures) are updated in this report.
Have a great Easter weekend!
The link to the most recent report is below.
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®.