The housing market in Bend has slowed dramatically compared to last summer. The latest Beacon report states the median price of a home in Bend is now $693,000, down from the peak of $832,000 in April. The number of homes sold in June was 166, which is higher than a year ago with 145 homes sold in June 2024, but below the peak in June of 2022. Homes in June remained on the market an average of 24 days compared to 15 last June. In 2022, homes sold within an average of six days. There’s a five-month inventory of homes in Bend which is the highest amount over the past three years.
Donald Montagner, with Bratton Appraisal Group, told the Source the spike in median home prices in April was due to a spike in million-dollar home sales which accounted for more than 30% of all single-family residence (SFR) sales in April. Last month, that price point accounted for 18% of all sales. “The SFR products in the $1.8 million category had an 11-month supply last month,” Montagner says.
In Redmond, it’s a different story. The median price of a home in June was $530,000, which is the same as it was three years ago. Home sales have slowed. The Beacon Report shows 58 homes selling last month compared to 66 a year ago. The biggest spike in Redmond home sales was last July with 88 homes sold. It took an average of 20 days for a home to sell in June, which is the same as a year ago. There’s currently a three-month inventory of homes in Redmond.
“Another interesting item was the low number of new SFR permits in Redmond last month,” Montagner says, “which is the lowest since September of 2022.”
He says the trend over the next two to three months will show if the Bend housing market is declining or stabilizing.
“I don’t believe sellers should be worried about the current market conditions but should be mindful of the change in demand and the fact of more competition/inventory on the market than seen in 2020-2022,” Montagner says. “SFR properties in need of updating or repairs will be a tougher sale in this market.”
Sisters
Median Price: $679,000
Days on Market: 47
Inventory: 5 Months
Sunriver
Median Price: $869,000
Days on Market: 18
Inventory: 9 Months
La Pine
Median Price: $390,000
Days on Market: 76
Inventory: 7 Months
Jefferson County
Median Price: $360,000
Days on Market: 54
Inventory: 5 Months
Crook County
Median Price: $400,000
Days on Market: 27
Inventory: 5 Months
This article appears in Source Weekly July 17, 2025.
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