During the third quarter of 2017, real estate prices in Central Oregon continued to rise. While a few markets saw a decrease from the second quarter to the third (the median sales price for Single Family Homes on less than an acre in Sunriver, for example, was down from $484,000 to $410,000 last quarter, a 15.3 percent decrease), every market tracked in the chart below saw a sizable increase over this time last year. Many of those increases were in the double digits.
In Bend, for example, the median sales price for Single Family Homes on less than an acre was $413,983, compared to $368,500 during third quarter 2016 (a 12.3 percent increase) and $399,000 for second quarter 2017 (a 3.8 percent increase). Meanwhile, the median sales price for Single Family Homes on less than an acre in Redmond was $292,500, compared to $267,186 during third quarter 2016 (a 9.5 percent increase) and $288,000 during second quarter 2017 (a 1.6 percent increase).
With prices on the rise (and Bend surpassing the $400,000 median price threshold), it’s no surprise that, in most markets, the number of sales was down compared to this time last year. A few notable exceptions: Sisters (which saw an increase in sales of 12.5 percent since third quarter 2016, up from 48 to 54), and La Pine (which saw an increase of 6.7 percent (up from 30 to 32).
By the Numbers
For those who want to study the market by the numbers, the charts below detail the past four years’ activity in Bend, Sisters, Redmond, Sunriver, Three Rivers South, La Pine, Jefferson County and Crook County.
*All listing information provided here is deemed reliable, but is not guaranteed and should be independently verified. The Multiple Listing Service of Central Oregon (MLSCO) does not verify the information provided and disclaims any responsibility or liability arising from any inaccuracy or inadequacy of said information or for typographical errors by MLSCO, or for any delay caused in dissemination of such information.
About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.