A Decade of Growth Across Central Oregon
When people think of Central Oregon real estate, Bend usually gets all the attention. Its rapid growth and rising home values have been well documented. But the bigger story is what has happened across the entire region.
To really understand today’s market, it helps to zoom out and look at the last decade. In a typical market, home values tend to appreciate around 3 to 5 percent annually, or roughly 30 to 50 percent over ten years. Nationally, that pattern has mostly held.
Over the past decade, the median home price across the U.S. has increased about 34 percent, while the average price has risen around 46 percent. That falls right in line with what most would consider a normal rate of growth.
Central Oregon doesn’t follow that same trend.
In Bend, home values have more than doubled over that same period. Median prices are up roughly 119 percent, while average prices have climbed around 136 percent. Much of that growth was accelerated during the COVID years, pushing values to levels that were difficult to sustain long term.
Redmond has seen an even more surprising rise. Median prices have increased about 135 percent, with average prices up 133 percent. For years, there was a clear price gap between Bend and Redmond. That gap has narrowed significantly, especially at lower price points, changing how buyers view the two markets.
Sisters, while smaller and more limited in volume, has still seen strong appreciation. Median prices are up about 79 percent, with average prices rising around 81 percent. Even with fewer transactions, the long term trend remains well above national norms.
Sunriver follows a similar pattern. Median prices have increased roughly 126 percent, and average prices have jumped around 143 percent. Like Sisters, the smaller number of sales can create some volatility, but the overall trajectory reflects the same rapid growth seen across the region.
The takeaway is clear. Bend may lead the conversation, but the growth story extends well beyond it. Central Oregon as a whole experienced a level of appreciation that far exceeded national trends.
Understanding where the market has been is key to navigating where it’s going. The next phase is less about rapid appreciation and more about strategy, positioning, and timing. Whether you are buying, selling, or investing, having a clear understanding of these long term trends can make a meaningful difference in your results. If you are thinking about your next move or want to better understand how this market impacts you, reach out anytime.
