Sales Up, Prices Steady Across Central Oregon
Bend’s real estate market showed impressive strength in September, posting its highest number of single-family home sales since 2022. According to the Beacon Appraisal Group, 180 homes sold during the month, just shy of the record 183 sales seen in September 2022. The strong pace of sales shows steady buyer demand even as prices and market conditions continue to adjust.
The median home price in Bend dipped to $713,000 in September, down from $769,000 in August. Over the past four months, prices have remained in the mid-to-low $700,000 range, suggesting a period of stabilization rather than decline. Low inventory continues to support market strength, which is not typical of a weakening market. On average, homes in Bend are selling in about 45 days, up from fewer than 10 days just two years ago but still within a healthy, balanced range.
In nearby Redmond, prices have been holding steady around the mid-$500,000s. The median price for a single-family home in September was $530,000, only slightly higher than August’s $525,000. Redmond saw 57 homes sell in September compared to 65 the month before, while average days on market held at about 47. The city’s inventory dipped from a three-month supply earlier this summer to just two months by the end of September, keeping conditions favorable for sellers.
Sisters experienced a modest price adjustment, with the median home price settling at $690,000 in September compared to $715,000 in August. Homes there averaged 35 days on market with a five-month supply, signaling a more balanced environment.
Sunriver saw the most dramatic change, with median prices jumping to $946,000 from $799,000 in August. This spike was driven by several high-end transactions above $1 million. Homes in Sunriver sold faster in September, averaging 35 days on market, while inventory dropped sharply from nine months to five.
In La Pine, the median home price slipped to $357,000 in September from $381,000 in August. Even with softer pricing, homes sold twice as fast, averaging 44 days on market. Inventory remained steady at seven months, giving buyers more selection while keeping sellers realistic about pricing and presentation.
Across Central Oregon, demand is still strong, especially for well-priced homes in desirable areas. While buyers have regained some leverage, sellers who price competitively and prepare their homes thoughtfully continue to see success.
Whether you are buying, selling, or considering a second home or investment property, now is an ideal time to evaluate your options. Reach out anytime and let’s create a strategy that fits your goals in today’s evolving market!
