Central Oregon Housing Market Sees Spring Surge
The Central Oregon real estate market is showing signs of a seasonal upswing, with home prices rising and homes spending less time on the market, according to the latest monthly report from Beacon Appraisal Group.
In Bend, the median sales price for a single-family home rose to $748,000 in March, up from $700,000 in February. Sales volume also increased, with 122 homes sold, compared to 94 in February. Homes sold more quickly as well, averaging just 32 days on the market, a significant drop from the two to three months typical in winter.
The report points to a market adjusting to higher interest rates, which have remained above 6% for more than a year. While elevated rates have caused some homeowners with lower-rate mortgages to hold off on selling, the current data suggests growing buyer activity and increasing seller readiness.
In Redmond, the median sales price for a single-family home remained relatively stable at $523,000, down slightly from $530,000 in February. Redmond’s market has stayed consistent, with the median home price hovering around the half-million mark since 2023. The area also maintained a two-month supply of available homes.
Across the region, other markets also experienced price gains:
- Sisters: The median sales price increased to $734,000, up from $635,000 the month prior. A four-month supply of homes remained on the market.
- Sunriver: Home prices rose to $880,000, about $40,000 higher than February, with inventory growing to a four-month supply.
- La Pine: The median price climbed to $420,000, nearly $40,000 above the previous month, with a steady five-month housing supply.
The Beacon Report uses the median sales price to reflect the midpoint of all transactions in a given month. As the market shifts into the traditionally active spring and summer seasons, data suggests continued momentum across Central Oregon.
Are you thinking about buying, selling, or investing in the Central Oregon market? Whether you’re looking to make a move soon or want to discuss options for the upcoming months, reach out today. Let’s work together to make your real estate goals a reality!
