The median sales price of a single-family home in Bend rose in March, but remained relatively stable in Redmond, indicating a shift toward a robust spring and summer season, according to a monthly housing report. 

In March, the median sales price of a single-family home rose to $748,000 from $700,000 in February, according to the monthly report from Beacon Appraisal Group of Redmond. Also in March, the number of sales grew from 94 in February to 122 in March, according to the report.

“We’re seeing a normal response to this seasonal shift,” said Donnie Montagner, Beacon Appraisal Group LLC owner. “Interest rates affect the market conditions. The word on the streets is that sellers are coming to terms with the interest rates.”

Mortgage interest rates have hovered above 6% for more than a year and affect inventory as homeowners with low interest rates hold onto their homes. During March, homes took an average of 32 days to sell, down from the winter months of two to three months, Montagner said.

The monthly Beacon Report uses the median sales price to measure the midpoint value of all transactions in a month. 

In Redmond, the median sales price of a single-family home landed at $523,000 in March, compared to $530,000 in February, according to the report. The median sales price of a Redmond single-family home has hovered around the half a million mark since 2023, according to the report. 

For the past five months, there remained a two-month supply of homes on the market in Redmond. 

“Looking at the market trends and how they’re unfolding, I see modest increases in prices occurring,” Montagner said. “Redmond has more single family products and it’s a more consistent market.”

In Sisters, the median sales price of a single-family home in March was $734,000, up considerably from February when the median sales price was $635,000, according to the report.

There remains a four-month supply of homes on market in Sisters.

In Sunriver, the median sales price of a single-family home in March was $880,000 up about $40,000 from the prior month, according to the report.  A four-month supply of homes remained on the market, up a month  from February. 

In La Pine, the median sales price of a single family home was $420,000 in March, up nearly $40,000 from the month before, according to the report. A five-month supply of homes are up for sale in the community, the same as the prior month, according to the report.