December 2021 Housing Market Update for Central Oregon
Without further ado, the December 2021 Beacon Report for Central Oregon is in! The market conditions in Bend are competitive, Redmond held steady, and Sisters’ median home price soared.
It was another record-setting month in Bend. The median price for a single family home jumped from $645,000 in October to $683,000 in November. This represents a 5.7% increase, which for comparison’s sake, is more than double the increase from September to October.
The average price per square foot in Bend also increased to $335 in November, representing a 1.5% increase.
The number of homes sold in Bend declined by about 6%. There were 197 homes sold in November, which is down from 210 homes sold in October. Notably, there was a significant decline – about 43% – in the number of sales within the $550,000 to $600,000 price point, when compared to the number of sales in October. This likely has a significant impact on the median sale price increase.
In Bend, homes sold at an average rate of 11 days during November 2021. This is the first time we’ve seen a double digit days-on-the-market number, since August of 2020. Inventory levels declined in Bend, to just under a one month supply.
To be frank, the market is competitive and it’s never been more important to work with a team that can put your home in the best light with professional staging, photography, video, and cross-media marketing. Reach out to Bend Relo, for a free home valuation today. And check out how our eligible clients have exclusive access to new cash offer program, Accept.inc.
REDMOND: DECEMBER 2021 BEACON REPORT
The Redmond market held steady, with no change in the median home price of $450,000. The average price per square foot increased from $271 to $284 – representing a 4.6% increase. The average time homes were on the market remained 6 days.
SUNRIVER HOUSING MARKET NUMBERS
Sunriver homes were on the market for 5 days, an 18% decrease from October. Median home prices increased during November from $863,000 in October, to $965,000, representing a 11% increase. Inventory of available homes in Sunriver remains low with just .5 months of inventory for sale, which is almost half of what is available in Bend and Redmond.
SISTERS HOUSING MARKET NUMBERS
The median home price in Sisters, Oregon soared to $744,000 for the month of November – representing a 25% increase over October’s $575,000. Homes were on the market an average of 13 days, which is three days longer than in October.
Read the full December 2021 Beacon Report Here.