Market Trend – April 2017
The SFR inventory levels are below a 2-month supply in Bend and Redmond. In March, a significant increase in the number of new SFR permits were issued.
It appears the 1st quarter of 2017 is off to a strong start for real estate market in Central Oregon.
The median home price in Bend has increased to the mid 2000 levels. However, the Bend median income level has not fully recovered to the median household income levels in 2005 -2007.
Historical Inflation Adjusted Median Family Income for Bend
| Date | US | Oregon | Bend |
| 2015 | $68,260 | $66,287 | $66,076 |
| 2014 | $65,986 | $62,742 | $62,122 |
| 2013 | $65,153 | $62,850 | $59,222 |
| 2012 | $64,548 | $61,398 | $58,255 |
| 2011 | $64,766 | $61,500 | $63,185 |
| 2010 | $65,888 | $61,596 | $61,021 |
| 2009 | $67,476 | $65,369 | $66,947 |
| 2008 | $69,756 | $67,361 | $65,901 |
| 2007 | $69,929 | $67,619 | $73,633 |
| 2006 | $68,801 | $65,741 | $65,142 |
| 2005 | $67,761 | $63,957 | $68,584 |
Source: http://www.deptofnumbers.com/income/oregon/bend/
Migration of homeowners into smaller areas around Bend will continue in 2017 if housing prices continue to rise.
I searched the Bend and Redmond market areas with the same search criteria in order to see how much, if any, price difference there is for very similar homes.
The search criteria: Sales in the prior year, 3-bedroom 2 bath homes built from 2013 to date with living areas of 1,400 sq-ft to 1,600 sq-ft.
| City | Sample | Median Sale Price | Med Sq-Ft |
| Bend | 68 | $310,000 | 1,544 |
| Redmond | 53 | $246,000 | 1,552 |
The difference in median sale price for this product type is $64,000 between Bend and Redmond.