According to real estate statistics released this week in The Beacon Report, which is based on Central Oregon real estate statistics from our local MLS, the Bend median home sales price increased from $410,000 in February 2018 to $424,000 in March 2018 for sales of single family residences of 1 acre or less. The Bend median price per square foot increased from $210 per square foot in February to $219 for March. Further analysis of MLS statistics on the total of 201 homes sold in Bend showed that of the 115 homes that were in the under $450,000 range, 35 percent of those homes were new construction. Inventory did not budge and remained at two months.
In contrast to Bend home prices, the median home price in Redmond was $295,000, up from $285,000 for February 2018, but still below the market high of $306,000 in June 2017. Median price per square foot increased from $174 in February to $183 for March. Of the 67 homes sold in Redmond, 79 percent were in the under $350,000 price range, and new construction comprised 10 percent of those sales.