Chris Beatty

Cell: 503.366.6802
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42 NW Greenwood Ave, Bend OR 97703

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This Month's Analysis

What’s happening in our market?

With the annual spring homebuying season coming quickly, home sales ramped up in Bend in March and spiked 13% from February, with a .6% increase from March 2023. Of those sales, buyers paid more. The median sales price of $784,500 in Bend rose 14.5% from February – and 14.5% year over year. The $99,500 increase from March 2023 reflected that buyers on average were willing to pay 98.4% of the listing price.


Well-priced listings that show well and are in prime locations seem to disappear as soon as they hit the market. If there is a change in interest rates or if sellers finally get tired of waiting and decide to sell, the pent-up demand could bring a more robust spring market for all.”

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

REAL ESTATE MARKET UPDATES FOR CENTRAL OREGON

Deschutes County

Notable metrics include:

The Median Sales Price of $684,663 increased 3.2% month-over-month. 

The number of new listings increased 51.4% from February.

The 3 months’ supply of inventory in March increased 11.8% from February and was up 34% from one year ago.

The average Close-to-List Price Ratio in March was 98.2%, meaning that homes sold for 1.8% less than the asking price. 

Days on Market increased 2.9% from February and increased year-over-year by 13 days, from 61 to 74.

Deschutes County MARKET CONDITIONS

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Bend, OR

Notable metrics include:

The Median Sales Price of $784,500 increased 14.5% month-over-month.

The number of new listings increased 44.1% from February.

The 2.6 months’ supply of inventory in March increased 12.8% from February and was up 25.6% from one year ago.

The average Close-to-List Price Ratio in March was 98.4%, meaning that homes sold for 1.6% less than the asking price.

Days on Market decreased 12.4% from February and increased year-over-year by 15 days, from 53 to 68.

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Notable metrics include:

The Median Sales Price of $769,500 increased just slightly .6% month-over-month.

The number of new listings increased 20% from February.

The 2.9 months’ supply of inventory in March was unchanged from February and was up 38.7% from one year ago.

The average Close-to-List Price Ratio in March was 97.4%, meaning that homes sold for 2.6% less than the asking price.

Days on Market increased 38% from February and increased year-over-year by 4 days, from 79 to 83.

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Notable metrics include:

The Median Sales Price of $525,000 increased 4.1% month-over-month.

The number of new listings increased 102.7%% from February.

The 4 months’ supply of inventory in March increased 12.5% from February and was up 72.2% from one year ago.

The average Close-to-List Price Ratio in March was 98.2%, meaning that homes sold for 1.8% less than the asking price.

Days on Market increased 40% from February and increased year-over-year by 19 days, from 72 to 91.

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Notable metrics include:

The Median Sales Price of $399,000 decreased 2.8% month-over-month.

The number of new listings increased 36.7% from February.

The 3.9 months’ supply of inventory in March increased 3.4% from February and was up 5.1% from one year ago.

The average Close-to-List Price Ratio in March was 98.4%, meaning that homes sold for 1.6% less than the asking price.

Days on Market decreased 4.6% from February and increased year-over-year by 29 days, from 96 to 125.

La Pine, Oregon, MARKET CONDITIONS

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Prineville, OR

Notable metrics include:

The Median Sales Price of $420,728 increased 6% month-over-month.

The number of new listings increased 60.6% from February.

The 3.8 months’ supply of inventory in March increased 9% from February and was up 12% from one year ago.

The average Close-to-List Price Ratio in March was 98.3%, meaning that homes sold for 1.7% less than the asking price.

Days on Market decreased 27.6% from February and decreased year-over-year by 5 days, from 94 to 89.

Prineville, Oregon, MARKET CONDITIONS

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Source: Information obtained from the MLS of Central Oregon

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