Bend median home sales price jumps to $773K in March, report says; Redmond soars to $520K

REDMOND, Ore. (KTVZ) – The Bend-Redmond housing market clearly saw a lion-like March, as the median home sales price in both communities soared to new record levels yet again – something of a broken record in recent months, the March Beacon Appraisal Group report showed Sunday.

The Bend-area median home sales price jumped $33,000 in a single month, to $773,000 in March, appraiser Donnie Montagner’s report said.

The number of Bend home sales also popped, rising by more than 70, to 202 March sales, while the days on market (from listing to contract dates) held at just four days, the record-fast sales pace seen over much of the past year.

And perhaps in a sign of what’s to come, new Bend-area home building permits rose to a near-record 87 in March, with the inventory/supply of homes for sale rose just a smidge, to .6 of a month’s worth – and the median sales price per square feet jumped by $34, to a record $389 per square foot.

Redmond’s real estate market jumped even farther than Bend’s, as the median price soared $47,000 higher, to $520,000, as sales doubled from February, to 105, and the days on market fell from seven to four.

Building permits were down a bit, to 19, while Redmond’s home inventory equaled Bend’s, at .6 of a month, and the median sales price per square foot held steady, at $288.

Elsewhere in the region, median first-quarter sales prices ranged from $382,000 in Jefferson County and $431,000 in Crook County to $455,000 in La Pine, $695,000 in Sisters and $950,000 in Sunriver.