REDMOND, Ore. (KTVZ) – A two-month supply of housing stock as seen in the Bend-Redmond area last month might not sound like a lot, but it’s the highest level in two years, Beacon Appraisal Group reported in the July Beacon Report out Tuesday.
The median time on market, meanwhile, increased slightly, from less than a week to 10 days, appraiser Donnie Montagner said.
The median home price in Bend rose $40,000 last month, to $762,000, close to the $773,000 record set earlier this year. Redmond’s median home sales price, meanwhile, dipped by $25,000 in July, but the $505,000 median sales price is just $23,000 below the record $538,000 figure set in April.
“Supply remains at low levels,” Montagner said, “and the median marketing times show there is ample demand for the level of inventory available.”
Here’s the full Central Oregon Beacon Report:
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