- Kessler AFB
According to The Beacon Report, prepared by Beacon Appraisal Group and based on Central Oregon real estate statistics, the Bend median home sales price decreased from $424,000 in March 2018 to $415,000 in April 2018. The Bend median price per square foot increased from $219 per square foot in March to $217 for April. This may not seem like good news, but deeper analysis of the figures shows the market is actually improving, as evidenced by the amount of listing inventory.
What was most interesting to see is the increase in listing inventory over the past four months as compared to the prior year. Note: these figures are only for single family residences of 1 acre or less:
Better weather this past winter allowed builders to keep going on their projects with minimal weather delays compared to last year. This is no doubt helping increase the listing inventory and hopefully stabilizing prices a bit. Both Redmond and Bend have had healthy inventory growth, but once again, Redmond is showing a much higher rate of growth than Bend due to all the current and future development taking place there.