According to data from the Central Oregon Multiple Listing Service that tracks sales, the median price of single-family homes sold in Bend during July 2008 was $287,000, down 16 percent from July 2007, and half of the homes sold last month went for $200,000 to $250,000.
The median price per square foot of homes sold during that same period dropped to $152, the lowest its been since 2005.
Observers say prices will continue to decrease until at least Spring 2009.
