Market Trend – November 2015
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 – 10/31/2012 | $ 212,000.00 | 1,957 | |
| 11/1/2012 – 10/31/2013 | $ 264,000.00 | 2,250 | 24.53% |
| 11/1/2013 – 10/31/2014 | $ 285,000.00 | 2,239 | 7.95% |
| 11/1/2014 – 10/31/2015 | $ 325,000.00 | 2,406 | 14.04% |
The 24.53% increase above appears to be within reason as the prices in Bend were rebounding from the deep decline in median sale price, which hit the lowest point in the last quarter of 2011. From 11/1/2013 to 10/31/2014, the 7.95% increase was in line with the Bend SFR median in the late 1990’s as increases of 5% to 9% prior to the larger annual increases noted in 2004-2006.
Redmond:
Redmond SFR median sale price increased slightly in November and the inventory level declined slightly. Over the past year, the number of sales in the $200k to $250k range increased and number of sales in the $150k to $200k range declined.
The following table is based on the SFR median sale price and number of sales in the Redmond area.
| Year | Median Sale Price | Number of Sales | %Δ |
| 11/1/2011 – 10/1/2012 | $ 130,000.00 | 641 | |
| 11/1/2012 – 10/1/2013 | $ 168,000.00 | 677 | 29.23% |
| 11/1/2013 – 10/1/2014 | $ 195,000.00 | 774 | 16.07% |
| 11/1/2014 – 10/1/2015 | $ 220,000.00 | 861 | 12.82% |
From all of us at Beacon Appraisal Group, have a great Thanksgiving.