The Appraiser’s Blog

Market Trends April 2017

April 12, 2017 | 0 Comments

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 [... read more]

Market Trend – September 2016

September 12, 2016 | 0 Comments

Last month, August, the SFR median sale price in Bend fell slightly as the number of sales increased slightly.  A 4% increase in median sale price is noted between August 2015 and last month.  Most SFR sales in the past year were in the $250k to $300k price range. The SFR median sale price in Redmond had increased for the 2nd consecutive month.  The number of sales in August increased slightly in Redmond.  Most sales in the sample fall inside the $200k to $250k price range. The SFR inventory level for Bend and Redmond is under three months. The new SFR permits were not yet released for Bend and Redmond. The most recent Beacon Report is available below. Link to Beacon [... read more]

Market Trend – June 2016

June 9, 2016 | 0 Comments

According to the data, the median sale price in Bend has continued to trend upwards since January 2016 and the current inventory is around two months. The median sale price in Redmond has been mostly stable since January 2016 and the current inventory level is around two months. Link to Beacon [... read more]

Market Trend – May 2016

May 6, 2016 | 0 Comments

In April, the median SFR sale price in Bend increased around $18,000.  For several months now, the median sale price in Bend has increased around $15,000/month.  The inventory level has been steady at around two months.  Building permits for new SFR dwellings were 73 in April, down 17% from April of last year.  Over the past year, most of the SFR sales in Bend were in the 250-300k. Link to Beacon Report The following grid provides a comparison between April 2015 and April 2016. Beacon Reports Bend SFR Apr-15 Apr-16 % ∆ Median SP 309k 365k 18.12% # of SFR Sales 203 205 0.99% Months of Inventory 2.8 2 -28.57% Building Permits 88 73 -17% Most sales 200-250k 250-300k   The SFR market in Redmond typically has moderate price trend [... read more]

Market Trend – April 2016

April 6, 2016 | 0 Comments

This time last year, the SFR median sale price in Bend was $327k and the inventory level was around 2.5 months.  Building permits for new SFR dwellings was around 52.  Most sales were in the $200k-$250k price range. Last month in Bend, the SFR median sale price was $347k and the inventory level was near 2 months.  Building permits for new SFR dwellings was 69.  Most sales over the past year were in the $250k to $300k price range. Redmond SFR had similar trends as Bend.  The median sale price last year, in Redmond, was $212k and was $250k last month.  The inventory level had declined since last year from 3 months to near 2 months. The quarterly figures are included for the smaller areas. The link to the most recent Beacon Report is [... read more]

Market Trend – March 2016

March 9, 2016 | 0 Comments

SFR inventory levels in Bend and Redmond are low at around 2 months, rounded.  The building permits for new SFR dwellings in Bend was 71 in February. Next month, the quarterly numbers will be included in the Report. The link to the recent Beacon Report is below. Link to Beacon Report [... read more]

Market Trend – February 2016

February 9, 2016 | 0 Comments

The residential real estate market is off to a good start in 2016. Typically, the real estate market in Central Oregon has less demand in the winter months.  While there was a decline in the number of sales in most market areas last month, the inventory in Bend and Redmond is low at around 2 months.  In Bend, there were 71 new SFR permits last month, compared to an average of 54 permits in January over the prior three years. These indicators strongly support a solid level of demand going forward. Below are links to the recent Beacon Report and the Median County Trend. Link to Beacon Report. Link to Median County Trend Jan [... read more]

Market Trend – January 2016

January 8, 2016 | 0 Comments

The Central Oregon SFR Real Estate market ends strong in 2015. In addition to the Beacon Report, I included another trend of the Bend SFR median sale prices from 1/1/1997 through 12/31/2015.  The graph is available for view on the Beacon Appraisal website.  Just click the RESOURCES tab. Looking back, the SFR median sale price in Bend increased from $184k in December 2011 to $325k last month.  Late 2007, the median sale price in Bend was around $320k.  There were 60 SFR building permits in Bend last month, which was the highest number of permits in the month of December since 2005. Bend SFR Building Permits In 2015, most of the SFR sales in Bend were in the $250k to $300 price range. Redmond SFR median sale price also increased [... read more]

Market Trend – December 2015

December 7, 2015 | 0 Comments

All the graphs show normal signs of the seasonal real estate market cycle in Central Oregon.  Bend had a decline in median sale price, number of sales, and new building permits in November. Redmond had a similar pattern as Bend in relation to demand and supply components; however, the median sale price in Redmond is stable at about $234k in November. The inventory level in Bend and Redmond was around a 2 month supply. The smaller market areas also have similar trends, with the exception of Jefferson County, Crooked River Ranch, and Crook County.  The median sale price in those areas increased in November. Click the link below to view the Beacon Report Dec. 2015. Link to Beacon [... read more]

Market Trend – November 2015

November 9, 2015 | 0 Comments

Bend: According to the November 2015 Beacon Report, in October the SFR median sale price in Bend leveled off and the inventory level in Bend was approximately 2.7 months, rounded to 3 months on the graph.  Most sales over the past year are in the 250k to 300k price range and number of sales in the 200k to 250k price range continues to decline. In addition to the Beacon Report study, I compiled the following data and you may find it interesting. The following is a study measuring the SFR median sale price in Bend on an annual basis over the past five years.  The table below provides the median sale price, number of sales, and percent of change in median sale price from the prior year. Year Median Sale Price Number of Sales %Δ 11/1/2011 [... read more]
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