THIS MONTH'S ANALYSIS

What’s Happening in the Central Oregon Housing Market?

“June brought a cooling trend to Central Oregon, with prices softening in most areas and inventory continuing its steady rise. Deschutes County’s median price dropped to $647,375, and both Bend and Sisters saw notable corrections—Sisters leading with a 9.3% month-over-month dip and nearly 18% below last year. Redmond inched upward in price, holding strong with one of the region’s tightest list-to-sale ratios.

Inventory climbed across the board, giving buyers more options—but also more time. Homes are still taking longer to sell than a year ago, especially in Prineville, where days on market neared triple digits. La Pine bucked the trend with a price increase and the highest inventory levels in the region.

This remains a market where strategy matters. The sellers seeing success are the ones leaning into pricing precision, standout presentation, and smart negotiations. In a market full of mixed signals, one thing is clear: experience matters.”

-Ryan Buccola, Broker/Owner RE/MAX Key Properties

REAL ESTATE MARKET UPDATES FOR CENTRAL OREGON

Deschutes County

Notable metrics include:

  • The Median Sales Price was $647,375, reflecting a 3.3% month-over-month decrease and a 4.8% year-over-year decrease.
  • There were 600 new listings in June — down 18% from May and down 4.6% year-over-year — as inventory continues to climb heading into summer.
  • The Months’ Supply of Inventory increased to 5.85, a 8.3% rise from May and a 19.9% increase compared to June 2024.
  • The Close-to-List Price Ratio was 98.4%, meaning homes sold for just 1.6% below asking on average — down slightly from May.
  • Days on Market fell notably in June: the average dropped to 61.5 days, a 4.8% decrease from May, though still up from June's 44 days.

Deschutes County MARKET CONDITIONS

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Bend, OR

Notable metrics include:

  • The Median Sales Price in June was $723,800, a 7.1% drop from May but a 8.6% decrease year-over-year.
  • New listings fell to 358, marking an 18.5% decrease from May and down 1.4% year-over-year.
  • The Months’ Supply of Inventory climbed to 5.75, which is up 6.3% from May and a significant 29.5% increase from June 2024.
  • The average Close-to-List Price Ratio ticked down to 98.1%, meaning homes sold for 1.9% below asking on average.
  • Days on Market decreased to 63 days, a 1.1% decrease from May, though still higher than June 2024’s 36-day average.

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Notable metrics include:

  • The Median Sales Price in June was $720,000, down 9.3% from May and down 17.7% year-over-year.
  • New listings dipped to 29, down 19.4% from May and 14.7% lower than June 2024.
  • Inventory rose to 6.2 months’ supply, a 9.4% increase from May and down 0.8% year-over-year.
  • The average Close-to-List Price Ratio was 99%, meaning homes sold for about 1% below asking — an increase from May’s 97.6%.
  • Days on Market dropped sharply to 58.3 days, a 37.7% improvement from May’s 93.5 days.

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Notable metrics include:

  • The Median Sales Price in June was $528,543, up 0.7% from May but 2.1% lower than June 2024.
  • New listings totaled 117, an 11.4% drop from May and 21.5% lower than June 2024.
  • The Months’ Supply of Inventory rose to 4.45, up 12.1% from May but down 8.4% from one year ago.
  • The average Close-to-List Price Ratio was 99.5%, indicating that homes sold for just 0.5% under asking on average.
  • Days on Market rose to 54.3 days, down 9% from May’s 59.7 days, and slightly lower than June 2024’s 58 days.

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Notable metrics include:

  • The Median Sales Price in June was $385,950, a 5.7% increase from May’s $365,000, and a 5.1% increase year-over-year.
  • New listings dropped to 61, down 21.8% from May’s 78 and 3.4% lower than June 2024.
  • Inventory grew to 8.44 months’ supply, a 12.2% increase from May, and up 14.1% from one year ago.
  • The average Close-to-List Price Ratio was 97.8%, meaning homes sold for about 2.2% below asking—a dip from May's 99.6%.
  • Days on Market remained flat at 85 days, virtually unchanged from May, though up 36 days from June 2024.

La Pine, Oregon, MARKET CONDITIONS

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Prineville, OR

Notable metrics include:

  • The Median Sales Price in June was $420,000, down 4.5% from May’s $440,000 and down 2.3% from June 2024.
  • New listings totaled 72, a 1.4% increase from May (71) and 46.9% higher than June 2024.
  • The Months’ Supply of Inventory rose to 6.29, up 19.3% from May (5.27) and up 52.7% year-over-year.
  • The average Close-to-List Price Ratio was 98.2%, indicating homes sold for 1.8% below asking on average.
  • Days on Market increased to 96.6 days, up 41.0% from May’s 68.5 days, and 25.5 days longer than June 2024’s 71.1 days.

Prineville, Oregon, MARKET CONDITIONS

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Source: Information obtained from the MLS of Central Oregon

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