The Beacon Report – September 2023.
The Single-Family Residential (SFR) median sale price in Bend dropped last month to $742k – in line with median sale prices seen in mid-2022. $1 Mil.+ sales made up around 24% of all SFR sales in September. Inventory of SFR properties in the 1.6 Mil. + price points continues to increase. Overall SFR inventory is slightly above a 2-month supply.
The Redmond SFR median sale price had little change from July to August. SFR Inventory level increased slightly and is currently around a 3-month supply (2.8 months). Over the past several months, inventory of SFR properties in the $600k – $650k price points has been increasing. Currently, the inventory of properties in the $600k-$650k is nearly 8½ months. There is a swelling of SFR inventory in Redmond starting with properties in the $500k-$550k price point to $750-$800k that ranges from a 4 to 6-month supply, excluding the $600k-$650 price category.
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®.