Home sales slowed and median prices slumped in Central Oregon over the past two months, according to the monthly Beacon Report on home sales data.
The number of single-family home sales in Bend dropped in May, compared to the same period the year before. Last month there were 137 sales, compared to 232 in May 2019. There’s a two-month supply of housing inventory for sale.
From April to May, the median sales price for a single-family home dropped from $468,000 to $445,000, according to the Beacon Report, which is produced by the Beacon Appraisal Group of Redmond. The median sales price for May was only slightly lower than the same period in 2019.
The Beacon Report uses the median sales price, which is the midpoint value of all transactions in a month.
The median price for a single-family home in Redmond dropped $20,000 last month after hitting a record high of $358,000 in April, according to the report. But home-sale prices last month were higher than the same month in 2019. The median sales price of a single-family home was $334,000 in May, compared to $328,000 in 2019. In May, 66 homes sold in Redmond compared to 109 the year before.
Sisters and Sunriver have a three-month supply of homes for sale, according to the report. Home sales for Sisters and Sunriver remained about the same over the last two months. However, the median sales price for each of those areas had wide swings, according to the Beacon Report. The median price of a house in Sisters was $448,000 last month compared to $400,000 in April. In Sunriver, the median price dropped about $60,000 during the two-month span to $516,000.