Central Oregon

One plausible reason closed transactions lagged throughout Central Oregon in Q4 could be related to buyers waiting for mortgage rates and prices to fall, creating more favorable purchase conditions. Mortgage rates began to stabilize throughout the quarter but prices responded differently by community as closed sales and days on market were significantly off prior year.

Average Sales Price

Average sales price in Bend was up 4% year-overyear to end Q4 2022 at $842,487. Average sales prices in Redmond/Terrebonne and Sunriver dropped 1% and 15%, respectively.

Closed Transactions

Closed transactions dropped across the region, falling the most in Sunriver (53%) and the least in Redmond/Terrebonne (35%) from year-ago figures.

Days On Market

Average days on market lengthened for all cities served in Central Oregon. Despite a year-over-year increase of 122%, average days on market in Sunriver (40 days) was the lowest for the region.