Inventory levels remain low, but increased slightly last month in Bend and Redmond, at a month’s supply. Prices have slowed their meteoric rise, but continue to remain strong as we move into the heart of the Spring market.
Mortgage rates rose steadily again, more than a half percentage point from where we started the month and are now hovering at 5.27% on 30-year fixed rates according to Freddie Mac.
“While housing affordability and inflationary pressures pose challenges for potential buyers, house price growth will continue but is expected to decelerate in the coming months.”
Redmond saw an uptick in the median price this month, while Bend, La Pine, Sisters and other outlying areas saw a slight decrease in prices and more days on market than in March.
Sunriver was the outlier in the region, crossing the 1 Million Dollar mark for the first time ever.
Inventory of Bend area homes for sale grew to its highest number in recent months and is double of April 2021. The market is headed in a healthy direction but still has a long way to go.
BEND AREA
$770,000
Median Price
4 Days on Market
REDMOND AREA
$538,000
Median Price
6 Days on Market
JEFFERSON COUNTY
$338,000
Median Price
20 Days on Market
SUNRIVER
$1,065,000
Median Price
8 Days on Market
LA PINE
$449,000
Median Price
108 Days on Market
SISTERS
$650,000
Median Price
5 Days on Market
CROOK COUNTY
$394,000
Median Price
7 Days on Market
Thank you to Beacon Appraisal Group for compiling this report. Prepared by Donnie Montagner with information from the MLS of Central Oregon with permission from COAR.
If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.
