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  • March 2024 Beacon Report: Central Oregon Market Trends​

March 2024 Beacon Report: Central Oregon Market Trends​

March 2024 Beacon Report: Central Oregon Market Trends​

Last month’s leap day gave Central Oregon home buyers an extra day to buy, sell, and list their homes than the previous three Februaries. In Bend, the median home price trended down for the fifth month in a row to $682,000, and we have 1.5 months of inventory. 

The number of $1Mill+ SFR sales made up 16% of all sales. 

As for Redmond, closed homes spent 21% fewer days on the market, a welcomed improvement for sellers. 

New building permits more than doubled from January to February, with 53 new building permits pulled. 

Based on prior years, an increase in the market activity as the Spring season draws near will begin this month.

Last month, the price per square footage decreased 8.5% to $319

In good news, the number of homes sold in Bend increased 19%. There were 106 homes sold in February, up from 89 homes sold in January. The winter is slower time for home sales annually and it seems like we are climbing out of that seasonal dip.

In Bend, homes sold on average 3 days faster in February than they did in January, at 40 days.

Redmond: February 2024 Beacon Report

In the Redmond market, the median home price ticked up a little bit from $507,000 to $511,000, but overall has remained relatively stable for the past four months. The average price per square footage decreased to $289, representing less than a percent change. Homes stayed on the market an average of 28 days which is a decrease from January’s 41 days. There is just over a two month supply.

Sunriver Housing Market Number

In Sunriver, homes were on the market for 4 days. Median home prices are at $923,000 representing a small upward tick from January. Inventory of homes is just over three months.

Sisters Housing Market Stats

The median home price in Sisters, Oregon is at $679,000 representing a small increase over January’s $668,000. Homes were on the market in Sisters an average of 28 days, with just a little over a month of inventory.

Read the full Beacon Report for Central Oregon March 2023

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