The Beacon Report – December 2022.
In November, the Single-Family Residential (SFR) median sale price in Bend increased to nearly $700,000. Last November, the Bend SFR median sale price was $683,000. The number of sales with conventional financing fell to 72 sales from 117 sales in the prior month. Cash transactions ticked up slightly in November. The SFR inventory in Bend declined to around a 1.5-month supply.
Redmond ended the month with a $453,000 SFR median sale price, which is close to the median in November 2021- $450,000. Inventory remains steady at around a 2-month supply.
The number of sales in Bend and Redmond last month are lower than the months of November in the past several years. It looks like it will be a slow winter season in the real estate market as the months of January and February often have the fewest number of sales in the year.
From all of us at Beacon Appraisal Group, have a Merry Christmas and Happy New Year.
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®.