May Market Report
/
Bend and Redmond SFR markets had a significant increase in the number of sales in April and the marketing times in both areas declined.
The Bend SFR median sale price declined in April while Redmond SFR median sale price was mostly stable in April when compared to March. In Bend, approximately 20% of sales were $1 M and over in sale price.
According to FRED economic data, the 30-year fixed rate was around 7% in April. The increase in the number of SFR sales this time of year is consistent with the historical Central Oregon real estate seasonal cycle.
SFR inventory levels at certain price points in Bend and Redmond increased last month.
There is nearly an 8-month supply of SFR properties in Bend in the $1.6 to $1.8 M price range and slightly over a 9-month supply of SFR properties in the $1.8 M+ price point.
In Redmond, SFR properties priced between $650k - $800k ranges from a 6 to 7-month supply.
