The Beacon Report – August 2020.
The Single Family Residential median sale price in Bend has broken another record in July. Last month the median sale price was $529,000, up 12.55% from July 2019. The data was reviewed three times in order to ensure the $529,000 was correct. The number of sales in Bend reached over 300 sales in July. Demand is strong and the inventory level fell slightly lower than a one month supply. This spike may be temporary and time will tell if the trend remains over $500k.
Redmond SFR market had a slight increase in July, $345k, up about 9.52% from July 2019. Building permits in Bend and Redmond are at typical levels.
Thank you for your interest in the Beacon Report and your patience for the delayed report this month.
The link to the report is below.
The Beacon Report – August 2020
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®.