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The Beacon Report – May 2024

Central Oregon Real Estate - The Beacon Report

The Beacon Report – May 2024.

Bend and Redmond Single-Family Residential (SFR) markets had a significant increase in the number of sales in April and the marketing times in both areas declined.

The Bend SFR median sale price declined in April while Redmond SFR median sale price was mostly stable in April when compared to March. In Bend, approximately 20% of sales were $1 M and over in sale price.

According to FRED economic data, the 30-year fixed rate was around 7% in April. The increase in the number of SFR sales this time of year is consistent with the historical Central Oregon real estate seasonal cycle.

SFR inventory levels at certain price points in Bend and Redmond increased last month.

There is nearly an 8-month supply of SFR properties in Bend in the $1.6 to $1.8 M price range and slightly over a 9-month supply of SFR properties in the $1.8 M+ price point.

In Redmond, SFR properties priced between $650k – $800k range from a 6 to a 7-month supply.

Thank you for your interest in the Beacon Report.

The link to the most recent report is below.

– Donnie

The Beacon Report – May 2024

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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