Record High Median Home Prices
5/14/2019
With the numbers out for April in Central Oregon, here’s a quick market update. The theme is record high median Single Family home sale prices. In Bend the median sale price is up 11.57% from April of 2018, while Redmond saw an increase of 12.8% since April of 2018.
A quick glimpse at Bend’s data shows us:
Median Sales Price is up to $463k compared to $445k in Mar.
Total # of Homes Sold is up to 177 compared to 149 in Mar.
Average Days On the Market stayed the same at 77 compared to Mar.
Average Sq Ft price was $237 per sq ft up from $220 per sq ft in Mar.
With summer quickly approaching the market is really heating up here on the High Desert. Buyers are coming out of the woodwork and trying to get their new homes locked down. As predicted, the low inventory and increasing buyer pool has prices reaching towards the sky. Searching homes for our buyers is still a challenge with little to choose from.
Looking at Redmond’s data:
Median Sales Price is up to $326k compared to $313 in Mar.
Total # of Homes Sold is up to 85 compared to 67 in Mar.
Average Days On the Market was down to 98 compared to 141 in Mar.
Average Sq Ft price was $190 per sq ft, up from $180 per sq ft in Mar.
I continue to see major interest in Bend’s outlying areas. Redmond, Prineville, La Pine and Sunriver are also getting a lot of attention. These areas offer a slower pace of life, less crowded and more affordable option for people moving to Central Oregon.