The Beacon Report – December 2020.
Cool weather, Hot SFR Central Oregon Market.
Bend Single Family Residential (SFR) price chart shows a decline ($535k) in median sale price last month from October ($560k). The median home size in Bend is smaller in November (1,920 s.f.) than it was in October (2,006 s.f.). Therefore, between these two factors, median home size and sale price, the price per s.f. calculates to $279/s.f., same as in October. In November, the number of sales in the $700-1Mill+ price range declined slightly from October.
October: 80 sales $700k – $1Mill+
November: 78 sales $700k – $1Mill+
SFR inventory in Bend remains below a half month supply.
Redmond SFR median sale price also declined slightly last month, and SFR inventory dropped to under a half month supply.
Marketing times in Bend and Redmond and most smaller Central Oregon markets are 4 to 9 days.
From all of us at Beacon Appraisal Group, have a wonderful Christmas.
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®.