A Closer Look at Central Oregon’s Market
Redmond’s single family housing market tightened recently, showing signs of stability for both buyers and sellers. The median sales price dipped slightly to $515,000, but homes began selling much more quickly. Average days on market dropped from roughly a month and a half to just over three weeks, according to data from Beacon Appraisal Group of Redmond. The faster pace may reflect newer home sales as well as the seasonal slowdown that typically arrives as winter approaches.
Housing inventory in Redmond has held steady year over year at about two months, pointing to a balanced market without major changes in available supply.
Bend saw a different trend. The median sales price for a single family home increased to $778,000, supported in part by strong luxury activity. Homes priced above $1 million made up nearly one third of recent sales, keeping the median higher. While pricing remains resilient, time on market has lengthened as the fall and winter season approaches, with homes taking significantly longer to sell than during the busier summer period.
Sisters experienced a modest shift, with the median settling at $657,000. Homes are selling in under a month on average and the area currently carries about six months of inventory, indicating steady but slower movement.
Sunriver’s median landed at $830,000, down from earlier in the season. Homes continued to sell quickly, averaging just over two weeks on the market with about five months of supply.
La Pine saw prices rise to $395,000, a gain from earlier in the year. Homes are taking longer to sell, averaging just over three months on the market as inventory moves through the quieter season.
Across Central Oregon, recent data highlights the familiar transition into fall and winter: longer market times, steady pricing in several communities and varied inventory levels that differ from one city to the next.
If you’re thinking about buying, selling or investing in Central Oregon, feel free to reach out anytime for a deeper look at neighborhood conditions and a tailored strategy for your goals!
