HOUSING in central oregon
With a wide selection of styles, acreages and sizes, prices vary in the region. Madras to the far northern boundary and La Pine to the far south both offer the most affordable housing, while Sisters and Sunriver offer some of the most expensive homes. Bend tracks below both of those communities and, given its size, has one of the broadest selections of home prices. Prineville and Redmond have been extremely popular communities to build new homes in last several years because of their relative affordability within Central Oregon. Real estate activity has slowed considerably in 2008 and 2009, but prices are far more attractive than in several years earlier, particularly at the lower to mid-range of the market.
average Home Prices in central Oregon
The average cost of a residential home in Central Oregon on less than one acre is reflected below. In general, average home prices in the region have declined less than median home prices, reflecting real estate activity dominated by short sales and foreclosures. Central Oregon's decline in home values is primarily a function of excess inventory, an overhang from the region's red hot 2003-06 housing market, and weakener demand from key feeder markets, such as the Bay Area and southern California.
| Average Home Prices in Central Oregon |
| Area |
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
Thru Q3 2009 |
| Bend |
$197,682 |
$208,097 |
$225,866 |
$235,882 |
$271,457 |
$334,570 |
$406,122 |
$426,044 |
$353,142 |
$260,586 |
| La Pine |
NA |
$86,000 |
$90,640 |
$110,000 |
$135,000 |
$163,970 |
$202,331 |
$237,665 |
$180,153 |
$135,091 |
| Redmond |
$124,696 |
$125,000 |
$135,125 |
$148,567 |
$158,500 |
$226,238 |
$212,173 |
$286,543 |
$245,204 |
$179,277 |
| Sisters |
$275,070 |
$235,000 |
$247,500 |
$270,000 |
$308,500 |
$449,979 |
$514,259 |
$526,626 |
$437,636 |
$384,968 |
| Sunriver |
NA |
$289,000 |
$315,000 |
$330,000 |
$393,500 |
$501,764 |
$627,345 |
$637,734 |
$628,979 |
$463,397 |
| Jefferson County |
$91,108 |
$87,000 |
$87,500 |
$95,000 |
$104,000 |
$131,493 |
$170,228 |
$187,367 |
$144,146 |
$102,974 |
| Crook County |
$95,753 |
$106,524 |
$99,400 |
$105,450 |
$114,928 |
$154,906 |
$212,173 |
$224,151 |
$206,874 |
$148,406 |
Source: Central Oregon Association of Realtors
Median Home Prices in Central Oregon
Central Oregon experienced double-digit increases in median home prices between 2003 and the early part of 2007; those increases were moderated starting in the latter half of 2007 and have continued into 2008-09, making all communities across the region far more affordable than several years earlier. Sales in 2009 have picked up considerably over 2008 and the average days on market for residential propoerties has been reduced slightly. Visit Central Oregon Association of Realtors for more information.
| Median Home Prices in Central Oregon |
| Area |
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
Thru Q3 2009 |
| Bend |
$163,000 |
$168,950 |
$183,500 |
$195,000 |
$227,500 |
$279,900 |
$351,978 |
$345,000 |
$289,450 |
$212,000 |
| La Pine |
NA |
$86,000 |
$90,640 |
$110,000 |
$135,000 |
$148,450 |
$183,500 |
$215,000 |
$160,000 |
$120,000 |
| Redmond |
$118,900 |
$125,000 |
$135,125 |
$148,567 |
$158,500 |
$198,818 |
$262,749 |
$250,000 |
$216,000 |
$155,000 |
| Sisters |
$232,000 |
$235,000 |
$247,500 |
$270,000 |
$308,500 |
$394,250 |
$460,000 |
$415,000 |
$367,450 |
$298,750 |
| Sunriver |
NA |
$289,500 |
$315,000 |
$330,000 |
$393,500 |
$462,500 |
$575,000
| $548,547 |
$555,738 |
$417,500 |
| Jefferson County |
$83,000 |
$87,000 |
$87,500 |
$95,000 |
$104,000 |
$133,500 |
$165,080 |
$177,950 |
$139,950 |
$95,000 |
| Crook County |
$88,200 |
$106,524 |
$99,400 |
$105,450 |
$114,928 |
$149,275 |
$195,500 |
$199,450 |
$177,500 |
$114,200 |
Source: Central Oregon Association of Realtors
Also shown are 2008 costs for 2 bedroom rental units of several different types: