The Beacon Report – September 2019.
The Single-Family Residence (SFR) median sale price in Bend has increased for the second month, at record levels. Looking further into the trend, I found something interesting. Since 2015, and calculating the Time Value of Money, there has been an approximate annual increase in SFR median sale price of 8.95% per year. What I find interesting is, my records show that the mid to late 1990s there was an annual rate of increase 5%-9% which was prior to the unreasonable increases that preceded the recession.
The median SFR sale price in Redmond has also increased last month and inventory remains at around 3 months. Over the past four years, the annual rate of increase in Redmond is 8.86%/yr.
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®.