real estate market update.Sept 19

September 2019 Real Estate Market Update

~ September 2019 Bend Market Update ~

Here are a few key statistics:
~ Median Home Price ~ $475,000
~ Number of Home Sales ~ 252
~ Days on Market ~ 64

The median home price hit another record high in August at $475,000, which is 10% higher than last year. 253 homes sold in August, and that is down 3% to last year, so we’re seeing fewer homes sold but at higher prices.

Inventory is still sitting at a 3-month supply, as it has been all summer, and the average days on market is at 64 days. This is a tricky time of year with last-minute vacations, getting kids back to school and Fall just around the corner, but the last 2 years have shown us that homes sales pick back up in October and with prices going strong, it looks like there’s still a lot of opportunities out there for Buyers and Sellers.

The median home price in Redmond also reached a record high at $338,000, which is 10% higher than last year, and there were 104 homes sold in August, flat to last year. It appears that Redmond’s growth is on pace with Bend, with the $300-$450k home price range seeing the biggest growth within the last 12 months.

Data courtesy Beacon Appraisal Group LLC

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