Local News

Median Home Sales Prices Surge

Median home sales in the Bend-Redmond housing market are breaking new records. In Bend, the area median home sales price jumped 33-thousand dollars to $773-thousand dollars in one month. According to the Beacon Appraisal Group, in March, the number of homes sold in Bend rose more than 70 to 202. New home building permits in Bend, meanwhile, rose to near-record levels while houses continued to stay on the market for an average of 4 days. For entry level home buyers it’s a challenging time to be looking for a home. In Redmond the median price jumped $47,000 to $520,000, as sales doubled from February figures. The median sales price per square foot for Redmond held steady, at $288 while in Bend, it spiked to a a record $389 per square foot. Fred Johnson with Duke Warner Realty, says the problem is not the perception of people being displaced by newcomers; it's a scarcity of inventory and entry level home buyers are impacted the most.

 

 

 

 

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