Bend and Redmond Markets Stay Strong
The August housing numbers are in, and they tell an interesting story across Central Oregon. In Bend, the median price for a single-family home climbed to $769,000, up nearly $20,000 from July. A big factor was the number of luxury homes changing hands, with more than a quarter of all sales closing above $1 million. Even with the rise in price, inventory tightened to a four-month supply, pointing to a strong month for sales activity.
Redmond also saw gains, with the median home price moving up to $525,000 compared to $506,000 in July. Homes are taking a bit longer to sell, averaging 36 days on the market, but the reduced inventory, now down to just two months of supply, shows that demand is holding steady.
Other areas told a more mixed story. Sisters saw its median sales price dip to $715,000 from $815,000 the month prior, with an average of 47 days on market and five months of supply. In Sunriver, prices shifted downward more sharply, with the median at $799,000 compared to $1.05 million in July. Homes there are spending an average of 55 days on the market, with a higher nine-month supply of inventory.
La Pine’s market also softened slightly, with a median price of $381,000, down just a touch from $386,000 in July. Homes are taking longer to sell, averaging 88 days on market, and the supply has grown to seven months.
Overall, Bend and Redmond continue to lead with strong activity, while surrounding communities are experiencing more balance between buyers and sellers. These shifts in pricing, inventory, and days on market highlight why local knowledge is so important when planning a move in Central Oregon.
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