BEND, OR -- The latest local residential real estate stats are out, showing a big increase in activity in Redmond. "What we’re seeing is that the Redmond market is really quite hot," says KBND News real estate expert Fred Johnson. "What is happening there is, not only have their number of sales, but also the number of building permits going forward have really skyrocketed just in the last month."
According to the latest report from Beacon Appraisal, the number of building permits for new housing in Redmond jumped from 29 in May, to 41 in June - that's a 41% spike. In Bend, last month, there was a 21% jump in new building permits.
Johnson says lower housing prices in Redmond, compared to Bend, are also a big part of the equation. "Primarily in that under $300,000 price-point, that really accounts for a fair amount of the market in the Redmond area. So, when you kind of compare the two markets, you’ll see that under $250,000 dollars in Bend, there’s currently 10 houses listed; that’s all that we have."
There is some good news for Bend home-buyers from the Beacon Appraisal report: The median price for a single-family home in Bend fell slightly last month, to $368,000. in Redmond it held relatively steady, at $243,000.