The Beacon Report – June 2023.
May was a good month in Bend as the Single-Family Residential (SFR) median sale price increased to $745k. In May 2022 the median SFR sale price was $740k and there were 61 more sales than last month. The number of conventional financed sales was steady at 85 sales last month, but the number of cash sales increased significantly to 60 sales last month- the highest since September of 2021. SFR inventory increased just slightly to around 1.7-month supply, up from 1.4 months in April. Building permits in Bend broke 50 last month (53), the highest since June of 2022- when there were 71-SFR new construction permits. I calculated the inventory levels of the $1.4Mill and higher price ranges and found that SFR inventory in the $1.6Mill and higher price ranges are showing 5 to 6 month supply
Redmond’s median SFR price has been steadily trending upward slightly since January of this year and inventory increased last month to a 2-month supply. I calculated the inventory level of SFR properties in the $600k to $650k price range in Redmond, which resulted in a 6-month supply. $600K to $650K price range there were 38 sales over the past year and 19 current listings.
The link to the most recent report is below.
– Donnie
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®.
