Central Oregon Real Estate Home Prices Trending Up
Those who have lived longer than 5 years in Central Oregon have seen home prices rise at a rapid pace, especially in Bend and Redmond. The average price for a single family residential home in Bend has risen over $200,000, the price for a Redmond home has more than doubled, Sisters homes are up 40% and Sunriver home prices have risen 22% in the last five years.
Our Predictions for Central Or Single Family Homes
The question can be asked, will Central Oregon home prices start to level off? Have we reached the top? Obviously affordability for locals has been an issue for several years. But for new Central Oregon residents, the price for a Redmond or Bend single family home is extremely inexpensive relative to the home prices from the area they are leaving (i.e. The Bay Area, Seattle, etc). This and the lack of developed land for new homes are the main driving force behind the increased home prices.
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