Bend Home Prices Surge to $800K in October
In October, the median sales price of a single-family home in Bend surged to $800,000, a jump of $86,000 from September. This increase was driven by a higher proportion of luxury sales, with 35% of homes selling for over $1 million. The last time Bend’s median price reached $800,000 was in June 2023.
Donnie Montagner, owner of the Beacon Appraisal Group, noted that fewer lower-priced homes sold in October, contributing to the rise in the median price. Additionally, homes in Bend are now spending more time on the market—44 days on average in October, up from just 1-7 days during the pandemic.
In comparison, the market in Redmond remains stable. The median sales price of a single-family home there was $500,000 in September, showing minimal change from previous months. Homes in Redmond are taking an average of 36 days to sell, with a three-month supply of homes on the market.
Sisters saw a decrease in median home prices, with the October median dropping to $702,000 from $772,000 in September. Sunriver’s median price also fell slightly to $790,000, down $16,000 from the prior month. Both towns have a four-month supply of homes on the market, which is below the national average of six months.
In La Pine, the median price dropped to $410,000 in October, down $50,000 from September, with an inventory of eight months.
Montagner said that while Bend’s market shows signs of healthy demand, the overall housing market in the region is more stable, with Redmond’s mid-priced homes offering consistent value.
Whether buying or selling, I’m here for all your real estate needs, don’t hesitate to reach out!
