The January Beacon Report for Central Oregon Real Estate Market Trends is in!
We’ve got the latest stats on the Central Oregon Real Estate Market. Median home price dips in Bend and Sisters, but not Redmond. Average days on market in Bend is relatively flat compared to November, but in Sisters, they saw homes sell 5 days faster in December than in November. 2022 is kicking off with low inventory levels across Central Oregon, which is good for sellers. Both Bend and Redmond declined to under half a month of inventory, while Sunriver and Sisters have around .25 months supply of homes for sale. Read on for all the details.
Median Home Price in Bend (December 2021)
In Bend, the median price for a single family home decreased slightly from $683,000 to $676,000, representing a 1% change from November to December. Yet, the median home price in Bend is up $151,000 from December 2020. This represents a 28.8% increase in the past year.
Price per Square Foot in Bend (December 2021)
Last month, the price per square footage increased dramatically from $335 to $357, representing a 6.5% increase, a new record.
Home Inventory in Bend (December 2021)
The number of homes sold in Bend declined by 15%. There were 171 homes sold in December, which is down from 197 homes sold in November, which is to be expected over the colder months. However, winter is still a great time to sell a home, read why in our blog.
Average Days on Market in Bend (December 2021)
In Bend, homes sold at an average rate of 12 days during December 2021, an increase of one day over the month which is to be expected during the holidays.
Bottom line: the market remains competitive, and the team at BendRelo have the best tools to help you find and buy the right new home, or sell your current home. Learn more about our cash offer program.
REDMOND, OREGON: JANUARY 2022 BEACON REPORT
In the Redmond market, the median home price increased 3% from $450,000 to $467,000. The average price per square footage decreased to $264, representing a 7.5% decrease. And the average time homes remained on the market was 10 days, a four day increase over the month of November, which is expected around the holidays. There is only .4 months of inventory for sale currently in Redmond, which is slightly lower than Bend’s .6 months.
SUNRIVER HOUSING MARKET NUMBERS
In Sunriver, homes were on the market for 5 days, which is consistent with November. This is significant because usually days on the market increase over the holidays. Median home prices decreased slightly to $927,000 from $965,000 December, representing a 4% decrease. Inventory of homes available remains low, with just .25 months of inventory for sale, which is nearly half of what is available in Bend and Redmond.
SISTERS HOUSING MARKET STATS
The median home price in Sisters, Oregon decreased from its November high of $744,000 to $645,000 — a 13.3% decrease from November. However, this. median home price is still $70,000, or 12%, higher than October. Homes were on the market in sisters an average of 8 days, which is down from November’s 13 days, and is significant because days on the market usually increases over the holidays — not decreases. Sisters is in demand.
Read the full January 2021 Beacon Report Here.