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The Beacon Report – January 2024.

Central Oregon Real Estate - The Beacon Report

The Beacon Report – January 2024.

Central Oregon Single-Family Residential (SFR) markets ended the 2023 year with positive price trend gains overall.  Inventory levels declined slightly in Bend and Redmond in December. 

The Bend SFR market began 2023 with a median sale price of $685 and set a record high in July 2023 at $800k.  Since July, the median sale price settled around $730k to $750k and ended in December at $725k.   Inventory levels gained 1 month since early 2023 and finished at nearly 1.6 months (rounded to 2 months) in December.  In Bend, the median sale price is up 5.8% from December 2022 ($678k).  The number of sales since 12/2022 was 98, higher than last month’s 90 sales.

Like Bend, the Redmond SFR market had a similar trend as the median sale price was $420k in January 2023 and steadily climbed to a high of $520k in October.  Since then, the median sale price in November and December was $499k and $510k respectively.  The inventory level was calculated to 2.7-month supply (rounded to 3 months).

In the smaller market areas (quarterly figures), the Sisters SFR market ended the 4th  Quarter at a $679k median sale price – up from $620k in the 4th Qtr of 2022.

The Sunriver median sale price in the 4th  Quarter of 2022 was $840k and finished 2023 with a $976k median sale price.

The median sale price in La Pine in the 4th Quarter of 2023 was $427k, just slightly higher than the 4th Quarter of 2022.

The Jefferson County SFR median sale price in the 4th Quarters of 2022 and 2023 remained unchanged at $375k

The Crook County SFR median sale price trended upward slightly from the 4th Quarter of 2022 and ended the 2023 year at a $428k median sale price.

Included on the website is a long-term trend of the Bend SFR market dating back to 1/1/1997

The link to the most recent report is below.

– Donnie

The Beacon Report – January 2024 | Bend SFR Jan 1997 to Dec 2023 Trend

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®.

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Mitch Darby

I am a real estate broker, architect (both licensed in the State of Oregon), and life-long Oregonian. If you are looking to buy or sell, I can help! I have Northwest Knowledge and am proud to be associated with Berkshire Hathaway HomeServices - Real Estate's Forever Brand!

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