The Beacon Report – May 2021.
Another Bend SFR Record.
In July of 2020, the Bend Single Family Residential (SFR) median sale price had a significant increase to $529k from $464k in June 2020. After reviewing the data several times, I noticed the median was heavily influenced by the number of sales in the 1 Mill+ range, which had increased significantly.
Last month, Bend SFR sales had another significant increase in the median sale price to $651k! Again, the search was re-run several times. Of the 237 total SFR sales in Bend, 40 sales were in the $1 Mill and higher price range. Sales in this range account for nearly 17% of all sales in Bend with the highest sale at nearly $3.5 Mill.
When compared to last year (April 2020), the Bend SFR median was $468k with 146 total sales, of which 10 sales were in the $1 Mill+ price range, nearly 7%.
While sales in the $1 Mill+ price range have an impact on the median, the overall SFR price trend in Bend is significantly trending upwards when compared to the past several years.
Redmond SFR had a large increase in median sale price in the prior month (March) to$412k, and stayed relatively stable last month at $413k.
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®.