Gary Everett

Cell: 541.480.6130

Office: 541.728.0033

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42 NW Greenwood Ave.
Bend, OR 97703

Specialties: Farm, Office, Land, Multifam, Hosp, Indust, Retail

THIS MONTH'S ANALYSIS

What’s Happening in the Central Oregon Housing Market?

“May delivered a mix of movement and momentum across Central Oregon. While Deschutes County’s median price dipped slightly to $667,358, we’re seeing more homes hit the market and buyers regaining options. Inventory continues its climb, now up 26.5% year-over-year, with the Bend and Sisters markets leading that surge. La Pine saw the steepest price correction—nearly 18% down from April—while Redmond held relatively steady with tight list-to-sale ratios.

Across the region, homes are still taking longer to sell than last year, but May brought some relief with days on market trending down in nearly every area. In this shifting environment, strategic pricing, standout marketing, and sharp negotiation are what set successful sellers apart. This isn’t a market for guesswork—it’s a market for guidance.”

-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 $667,358, reflecting a slight 0.4% month-over-month decrease and a 1.9% year-over-year decrease.
  • There were 725 new listings in May—up 6.8% from April and up 2.5% year-over-year—as inventory continues to climb heading into summer.
  • The Months’ Supply of Inventory increased to 5.34, a 15.6% rise from April and a 26.5% increase compared to May 2024.
  • The Close-to-List Price Ratio was 98.6%, meaning homes sold for just 1.4% below asking on average—down slightly from April.
  • Days on Market fell notably in May: the average dropped to 57 days, an 18.6% decrease from April, though still up from May 2024's 42.6 days.

Deschutes County MARKET CONDITIONS

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Bend, OR

Notable metrics include:

  • The Median Sales Price in May was $775,462, a 6.2% drop from April but a 2.7% increase year-over-year.
  • New listings rose to 436, marking an 11.3% increase from April and up 1.4% year-over-year.
  • The Months’ Supply of Inventory climbed to 5.35, which is up 17.6% from April and a significant 45.4% increase from May 2024.
  • The average Close-to-List Price Ratio ticked up to 98.5%, meaning homes sold for 1.5% below asking on average.
  • Days on Market decreased to 58.6 days, a 21.1% improvement from April, though still higher than May 2024’s 50-day average.

Bend, Oregon, MARKET CONDITIONS

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Sisters, OR

Notable metrics include:

  • The Median Sales Price in May was $793,975, down 0.3% from April and down 3.8% year-over-year.
  • New listings dipped slightly to 36, down 5.3% from April and 21.7% lower than May 2024.
  • Inventory rose to 5.72 months’ supply, a 9.8% increase from April and up 12.8% year-over-year.
  • The average Close-to-List Price Ratio was 97.6%, meaning homes sold for about 2.4% below asking—a drop from April's 99.5%.
  • Days on Market dropped sharply, falling to 49.8 days, a 50.3% improvement from April’s 100.1 days, and also down 18 days from May 2024.

Sisters, Oregon, MARKET CONDITIONS

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Redmond, OR

Notable metrics include:

  • The Median Sales Price in May was $525,000, down 3.7% from April and 2.8% lower than May 2024.
  • New listings totaled 128, a 3.8% drop from April but up slightly 2.4% year-over-year.
  • The Months’ Supply of Inventory rose to 3.92, an increase of 6.5% from April, though still down 19.3% from one year ago.
  • The average Close-to-List Price Ratio was 99.4%, indicating that homes sold for just 0.6% under asking on average.
  • Days on Market improved to 52.9 days, down 29.7% from April’s 75.3 days, though still higher than May 2024’s 51.5 days.

Redmond, Oregon, MARKET CONDITIONS

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La Pine, OR

Notable metrics include:

  • The Median Sales Price in May was $365,000, a 17.9% drop from April’s $444,900, and a 14.4% decrease year-over-year.
  • New listings increased to 78, up 23.8% from April’s 63 and 6.8% higher than May 2024.
  • Inventory grew to 7.44 months’ supply, an 18.0% increase from April, and up 21.2% from one year ago.
  • The average Close-to-List Price Ratio improved to 99.6%, meaning homes sold for just 0.4% below asking, a slight bump from 97.9% in April.
  • Days on Market dropped sharply, falling to 84.7 days, a 33.3% improvement from April’s 127 days, though still up from 66 days in May 2024.

La Pine, Oregon, MARKET CONDITIONS

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Prineville, OR

Notable metrics include:

  • The Median Sales Price in May was $420,000, down 4.5% from April’s $440,000 and down 2.3% from May 2024.
  • New listings increased to 72, a 1.4% gain from April’s 71, and a 46.9% increase year-over-year.
  • The Months’ Supply of Inventory jumped to 6.29, up 19.3% from April and a sharp 52.7% increase over May 2024.
  • The average Close-to-List Price Ratio dipped slightly to 98.2%, meaning homes sold for 1.8% under asking on average.
  • Days on Market increased to 96.6 days, up 41% from April’s 68.5 days, and up 25.5 days year-over-year.

Prineville, Oregon, MARKET CONDITIONS

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Source: Information obtained from the MLS of Central Oregon

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