The Beacon Report – January 2023.
The Bend Single-Family Residential (SFR) market finished with a stabilizing median sale price. Inventory levels are low at around a 1.5-month supply. As expected for this time of year, the number of sales has declined and marketing times have increased. Below is a table presenting the annual median sale price and the year-over-year rate of increase since 2014.
Interestingly, the median number of sales in 2005 was 265, which is the record high number of annual sales since 1997. The median sale price in 2005 was $277,000.
In 2021, the 29.5% rate of increase was high due (in part) to the significant increase in the number of sales (SFR products) in the $1Mill and higher price categories.
| Year | Median Sale Price | Percent Change | # Sales |
| 2014 | $291,000 | Base | 190 |
| 2015 | $326,000 | + 12% | 207 |
| 2016 | $365,000 | +11.8% | 201 |
| 2017 | $396,000 | + 8.5% | 211 |
| 2018 | $428,000 | +8.2% | 198 |
| 2019 | $448,000 | +4.6% | 209 |
| 2020 | $496,000 | +10.8% | 208 |
| 2021 | $643,000 | +29.5% | 219 |
| 2022 | $724,000 | +12.6% | 179 |
The Bend SFR Jan 1997 through Dec 2022 Trend is available on our website below the recent Beacon Report.
The Redmond SFR market shows a decline in the median sale price for the third month in a row. The number of sales is down, and marketing times are increasing. However, inventory is low at around a 2- month supply.
Fourth-quarter smaller market figures are provided in this report.
Have a great 2023!
– Donnie
The Beacon Report – January2023
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®.
