Terrebonne

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]

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]

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]

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]

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]

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]

The SFR median sale price in the segregated Central Oregon markets continues to inch up. In Bend, the SFR median price bumped up slightly in September from $345k in August while the number of sales slightly declined.  The median days on market appears to have an upward trend and was near three months in September, up from two months in May and June of 2015.  New SFR building permits increased significantly, 89 permits, in September. Redmond SFR median sale price increased in September, but at a slower rate than the median sale price in Bend.  In September 2014, the SFR median sale price in Redmond was $210,000 and dipped in October as the market entered into the fall season.   The number of sales in Redmond has been in the upper [... read more]