Suzanne Roig has been a reporter with The Bulletin since 2018 covering business and health in the region. When she's not working she enjoys taking her dog Pono out on hikes.
The price of a single-family home in Bend dropped in April, while prices in Redmond remained stable, due in part to the rising cost of 30-year fixed mortgages, according to a monthly housing report.
This is the season when single-family home sales traditionally surge, according to the report prepared by the Beacon Appraisal Group LLC of Redmond.
While 1 in 5 homes were listed for more than $1 million, there is an eight-month supply of single-family homes for sale in Bend in the $1.6 million to $1.8 million price range, according to the report. In Redmond, there was a six- to seven-month supply of homes for sale in the $650,000 to $800,000 price range.
In Bend, the median sales price of a single-family home was $707,000 in April, a $46,000 drop from the month prior, according to the Beacon report. For the second month in a row, there remains a two-month supply of homes for sale in Bend.
In Redmond the median sales price of a single-family home was $533,000, just a smidge below the median sales price in March when it was $537,000, according to the report.
Since December, the median sales price of a single-family home in Redmond has remained above the half million dollar range, according to the report. For the past two months there remains a three month supply of homes on the market.
A balanced market for buyers and sellers is achieved when there is about a six month supply.
In Sisters, the median sales price for a single-family home was $715,000, down a tad from March when the median sales price was $732,000, according to the report. In Sisters, there was a 2½-month supply of homes on the market in April.
In Sunriver, however, the median sales price increased to $1.02 million in April, compared to $705,000 in March, according to the report. Sunriver had a three-month supply of homes on the market, the same as it was the previous month, according to the report.
And in La Pine, the median sales price of a single-family home was $425,000 in April, compared to $365,000 in March, according to the report. La Pine continues to maintain a four month supply of homes for sale.
Suzanne Roig has been a reporter with The Bulletin since 2018 covering business and health in the region. When she's not working she enjoys taking her dog Pono out on hikes.
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.