Central Oregon Real Estate Market Saw Growth Across the Region in 2015

Published 12:00 am Saturday, February 6, 2016

: Data and graphics submitted by Central Oregon Association of REALTORS®

In 2015, single family homes on lots under one acre saw increases in median sales price from 2 percent to 19 percent in Crook, Deschutes and Jefferson Counties compared to 2014. The total number of homes sold also increased in the region with some areas still seeing low inventories compared to demand.

In the Bend, Tumalo and Alfalfa areas, median home prices rose from $289,950 to $327,478 (an 11 percent increase). However, the total number of homes sold only increased 8 percent.

Redmond and Terrebonne areas performed even better with home prices increasing from $195,605 to $223,226 (a 12 percent increase) and a 13 percent increase in overall homes sold.

Sisters saw one of the biggest increases in the median home price rising from $269,078 to $330,000 (an 18 percent increase) and a 10 percent increase in total homes sold.

While prices only rose 2 percent in Sunriver ($367,500 to $375,000), the total number of homes sold rose 28 percent. That marks the largest rise in total home sales in the region.

Bend luxury estate heads to auction

Road bill dud shakes future for Central Oregon transportation

Sisters passed a wildfire code for new development. Will Bend be next?

The biggest rise in median homes sales price was in La Pine, $149,900 to $185,500 (a 19 percent increase). The total volume of homes sold in La Pine increased 23 percent.

After several years of flat growth, Jefferson County home prices rose from $111,000 to $121,000 (an 8 percent increase). The total number of homes sold in Jefferson County rose 9 percent.

Finally, in Crook County the median price rose from $132,450 to $157,750 (a 16 percent increase) and the total number of homes sold rose 15 percent.

Bend area, Sisters and Sunriver home prices surpassed the national average home sale price for single family homes, which was at $226,000 in 2015, an 8 percent increase over 2014. All three also surpassed the median home price in the Western United States of $321,100.

For more information on local housing statistics including manufactured homes, townhomes, condos, land, multi-family, farms and larger residential lots, please visit the Press section of www.coar.com.