Central Oregon Real Estate Trends - September 2019

Posted by Bend Premier Real Estate on Wednesday, October 30th, 2019 at 3:20pm.

Central Oregon Cities Show Varied Growth

Bend Premier Real EstateOut of area buyers often think of Bend exclusively when they consider moving to Central Oregon. However, Central Oregon has several towns and small cities, all with their own urban "vibe" and lifestyle.  Bend is by far the largest town with its population now pushing 100,000. However, Redmond has been a great neighbor to Bend with home prices considerably less than the larger city to the south. 

Besides Bend and Redmond, Sisters offers both a closer location to the western half of the state plus a more intimate small town feeling, permeated by seasonal tourist traffic from nearby Black Butte Resort and such renowned festivals as the Sisters Quilt Show and the annual rodeo.

Prineville, Central Oregon's oldest city and the original county seat of much of Eastern Oregon, is now experiencing a building boom with new construction and growth, not all tied into Facebook's data center. Home sales are expanding tremendously in Prineville and this great town has been rediscovered by those looking for affordability in a fabulous Central Oregon location.

The following graphs show sales prices and the number of sold single family homes on less than an acre in Bend, Redmond, Sisters and Prineville.  Although home prices are gaining in all four cities, home sales are actually dropping in Bend and Sisters. 

Bend Oregon Real Estate Trends

Bend Premier Real Estate

What Does the Mixed Growth in Central Oregon Cities Mean?

The average cost of a single family home in Sisters and Bend on less than an acre is over $400,000 in Sisters and over $500,000 in Bend.  The idea of combining "affordable housing" and "single family home" does not work any longer in Bend and Sisters. However, in Redmond (while pushing up toward $350,000 as an average price for a single family home) and Prineville (around $250,000 as the average single family home price), home buyers looking for affordability can still find it. The wealthier buyer will continue to purchase in Bend and Sisters, but those looking for value will be looking toward Redmond and Prineville.

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