Central Oregon’s Current Real Estate Market

The Central Oregon Association of REALTORS (COAR) and ECONorthwest have released their first-quarter market report analyzing the Central Oregon housing market for the first three months of 2019. Low inventories drove a below-normal number of housing sales. The Bend, Jefferson County, and Redmond markets all saw decreases in home sales volumes of over 15% from the same quarter in 2018. Despite the decrease in overall sales, most home markets saw stable prices. Only Jefferson County and Sunriver saw notable decreases in median home sale prices.

Highlights from the report include:

Bend/Alfalfa/Tumalo The median home price rose 8.35% from the first quarter of 2018 to $441,000 and days on market fell 8.5% to 91.5 days. New construction homes were listed 2.22% higher per square foot than existing homes and made up 19.19% of the market. Total sales volume was down 26%.

Crook County The median home price rose 5.77% from first quarter 2018 to $264,900 and days on market rose 19% to 119 days. New construction homes were listed 1.17% higher than existing homes and made up 21% of the market.

Jefferson County The median home price fell 3.97% from first quarter 2018 to $187,250 and days on market fell 23.13% to 109 days. New construction homes were listed 17.16% higher than existing homes and made up 15.79% of the market. Total sales volume was down 28.3%.

La Pine/Three Rivers South The median home price rose 0.23% from first quarter 2018 to $259,595 and days on market fell 11.19% to 119 days. New construction homes were listed for 3.64% less than existing homes and made up 6.03% of the market. Total sales volume was up 19.59%.

Redmond/Terrebonne/Crooked River Ranch The median home price rose 11.15% from first quarter 2018 to $310,000 and days on market rose 21.51% to 113 days. New construction homes were listed for 1.71% less than existing homes and made up 24.35% of the market. Total sales volume was down 14.5%.

Sisters The median home price rose 9.03% from first quarter 2018 to $410,000 and days on market fell 6.3% to 119 days. New construction homes were listed for 11.36% less than existing homes and made up 14.55% of the market. Total number of sales was down 3.51%.

Sunriver The median home price rose 4.17% to $382,000 from first quarter 2018 and days on market fell 18.75% to 65. Total number of sales was up 4.17%.

For more information, please visit coar.com.