YEA R EN D M A RK ET REV I EW B EN D , O REG O N 9 7 7 0 2
YO U R C EN T RA L O REG O N REA L ES TAT E M A RK ET
2023
Cent ral Oregon M arket Summary The real estate market in Central Oregon reflects a dynamic and competitive landscape. Across various towns and neighborhoods, key indicators illustrate the region's appeal and demand. In 2022, areas such as Madras, Terrebonne, and Redmond experienced vibrant markets with notable home sales, quick turnover, and robust median sale prices. Sisters showcased stability with consistent sales volume and strong median prices, while Black Butte Ranch displayed a nuanced market with a balanced number of homes sold and a higher median sale price. La Pine demonstrated a robust market in 2022, with a high number of homes sold and a competitive median sale price. Sunriver flourished with a relatively short median days on market and a strong median sale price. Bend, as a representative of Central Oregon, exhibited a robust market with a short median days on market and a high median sale price.
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CELLEENPETERSON.EVREALESTATE.COM
Year End Review
Phot o Credit : M at t hew Lasala
However, 2023 saw some shifts in the real estate landscape. Several areas experienced a decrease in homes sold, while median days on market and median sale prices varied. These changes suggest a nuanced market response, emphasizing the need for adaptability and awareness among buyers and sellers. In summary, Central Oregon's real estate market is characterized by its diversity, competitiveness, and responsiveness to changing dynamics. As the region continues to attract interest, understanding these nuances is crucial for navigating the real estate landscape effectively.
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.
BEND.EVREALESTATE.COM
M ARKET REPORT | 2023 CENTRAL OREGON REVIEW
YEAR END REPORT
SISTERS
Sisters, with a population of just over 3,000 residents, offers a quaint downtown with shopping and great outdoor activities right in your backyard. In 2022, Sisters' real estate market thrived, witnessing the sale of 254 homes with an impressively short median days on market of 8. The median sale price reached $680,396, complemented by 295 new listings. March emerged as the peak month for home sales, adding to the town's vibrant atmosphere and outdoor allure. In 2023, the market saw a slight dip with 202 homes sold and a longer median days on market (29). However, the median sale price remained strong at $686,250, supported by 259 new listings. Notably, August took the lead as the month with the highest number of homes sold, indicating the evolving trends in Sisters' real estate landscape. The combination of a small-town charm, thriving downtown, and accessible outdoor activities makes Sisters an ideal and evolving destination for potential homeowners.
YEAR END REPORT
2022
2023
% CHANGE
SISTERS
Homes Sold This Year
254
202
- 20.47 %
RESIDENTIAL
Median Days on Market
8
29
262.5 %
Median Sale Price
$680,396
$686,250
0.86 %
New Listings
295
259
- 12.20 %
Month With Most Homes Sold
March
August
?
Month With Least Homes Sold
February
January
?
% List to Sale
86.10 %
78.00 %
- 9.42 %
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0.86% M EDIAN SALE PRICE
CELLEENPETERSON.EVREALESTATE.COM
YEAR END REPORT
BLACK BUTTE RANCH
Black Butte Ranch, a small community north of Sisters with a population of 215, offers a unique and intimate living experience. In 2022, the real estate market in Black Butte Ranch showcased stability, witnessing the sale of 44 homes with an impressively short median days on market of 8. The median sale price reached $1,100,000, supported by 48 new listings. August stood out as the peak month for home sales, adding to the town's reputation for stability in real estate. In 2023, the market experienced a slight decrease, with 30 homes sold and a longer median days on market (27). Despite this, the median sale price remained robust at $1,022,877, complemented by 47 new listings. Notably, both March and April shared the spotlight as the months with the highest number of homes sold, indicating the nuanced dynamics of Black Butte Ranch's real estate landscape. The small population and unique charm contribute to the distinctive character of Black Butte Ranch, making it an intriguing community for potential homeowners.
YEAR END REPORT
2022
2023
% CHANGE
BLACK BUTTE RANCH
Homes Sold This Year
44
30
- 31.82 %
RESIDENTIAL
Median Days on Market
8
27
237.5 %
$1,100,000
$1,022,877
- 7.01 %
48
47
- 2.08 %
Month With Most Homes Sold
August
March/April
?
Month With Least Homes Sold
March/April
November
?
91.67 %
63.83 %
- 30.40 %
Median Sale Price New Listings
% List to Sale
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.
- 7.01% M EDIAN SALE PRICE
BEND.EVREALESTATE.COM
M ARKET REPORT | 2023 CENTRAL OREGON REVIEW
YEAR END REPORT
M ADRAS
Madras, a quaint and quiet town with under 8,000 residents, offers a unique charm to its community. In 2022, the real estate market in Madras experienced vibrancy, witnessing the sale of 223 homes with a swift median days on market of 22. The median sale price soared to $373,290, accompanied by an impressive 228 new listings. Notably, April stood out as the peak month for home sales, adding to the town's dynamic real estate landscape. However, in 2023, the market in Madras underwent a shift, with home sales decreasing to 152 and a longer median days on market of 47. Despite this change, the median sale price remained robust at $347,000, supported by 214 new listings. Interestingly, March emerged as the new peak month for home sales, reflecting the evolving trends and dynamics in Madras' real estate market. The town's character and charm continue to contribute to its real estate appeal, making it a noteworthy area in the housing market.
YEAR END REPORT
2022
2023
% CHANGE
M ADRAS
Homes Sold This Year
223
152
- 31.8 %
RESIDENTIAL
Median Days on Market
22
47
113.64 %
Median Sale Price
$373,290
$347,000
- 7.04 %
New Listings
228
214
- 6.14 %
Month With Most Homes Sold
April
March
?
Month With Least Homes Sold
November
Jan/Feb/July
?
% List to Sale
97.81%
70.75 %
- 27.63 %
/ colleenpeterson.realestate
- 7.04% M EDIAN SALE PRICE
CELLEENPETERSON.EVREALESTATE.COM
YEAR END REPORT
TERREBONNE
Terrebonne, with a population of just over 1,500 and boasting a pleasant climate with numerous outdoor activities, is a charming destination. In 2022, Terrebonne's real estate market was bustling, witnessing the sale of 165 homes with a swift median days on market of 19. The median sale price soared to $499,000, complemented by 209 new listings. March and August emerged as peak months for home sales, reflecting the town's vibrant real estate scene. In 2023, the market experienced a slight dip with 127 homes sold and a longer median days on market (38). However, the median sale price remained stable at $500,000, supported by 184 new listings. Notably, October took the lead as the month with the highest number of homes sold in 2023, showcasing the evolving dynamics of Terrebonne's real estate landscape. The combination of a small-town atmosphere and an active real estate market makes Terrebonne an intriguing area for prospective homeowners.
YEAR END REPORT
2022
2023
% CHANGE
TERREBONNE
Homes Sold This Year
165
127
- 23.03 %
RESIDENTIAL
Median Days on Market
19
38
100 %
$499,000
$500,000
0.20 %
209
184
- 11.96 %
Month With Most Homes Sold
March/August
October
?
Month With Least Homes Sold
December
Jan/Feb/May/Sep
?
% List to Sale
78.95 %
69.02 %
- 12.57 %
Median Sale Price New Listings
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.
0.20% M EDIAN SALE PRICE
BEND.EVREALESTATE.COM
M ARKET REPORT | 2023 CENTRAL OREGON REVIEW
YEAR END REPORT
REDM OND
Redmond, a growing city with a population of just over 35,000, is characterized by its expansive farmland and abundant outdoor recreation opportunities. In 2022, Redmond's real estate market thrived, witnessing the sale of 1109 homes with an impressively short median days on market of 11. The median sale price reached $510,000, supported by a substantial 1331new listings. March emerged as the peak month for home sales, underscoring the city's dynamic real estate scene. In 2023, the market saw a shift with 818 homes sold and a slightly longer median days on market (28). Despite this change, the median sale price remained strong at $492,592, complemented by 1136 new listings. Notably, August took the lead as the month with the highest number of homes sold, highlighting the evolving trends in Redmond's real estate landscape. The combination of a growing city, expansive farmland, and robust real estate activity makes Redmond an attractive and evolving destination for potential homeowners.
YEAR END REPORT
2022
2023
% CHANGE
REDM OND
Homes Sold This Year
1109
818
- 26.23 %
RESIDENTIAL
Median Days on Market
11
28
154.55 %
Median Sale Price
$510,000
$492,592
- 3.41%
New Listings
1331
1136
- 14.65 %
Month With Most Homes Sold
March
August
?
Month With Least Homes Sold
December
December
?
% List to Sale
83.31%
71.95 %
- 13.66 %
/ colleenpeterson.realestate
- 3.41% M EDIAN SALE PRICE
CELLEENPETERSON.EVREALESTATE.COM
YEAR END REPORT
BEND
Bend, with a population of just over 100,000 residents, is Central Oregon's outdoor mecca, boasting amazing food and drink, endless outdoor activities, and being a wonderful place to raise a family. In 2022, Bend's real estate market demonstrated strength, witnessing the sale of 134 homes with an exceptionally short median days on market of 6. The median sale price reached $852,500, supported by 171new listings. May stood out as the peak month for home sales, underscoring Bend's appeal as a desirable living destination. In 2023, the market experienced a decrease, with 104 homes sold and a still-short median days on market (13). The median sale price showed a shift to $554,000, complemented by 144 new listings. Surprisingly, June took the lead as the month with the highest number of homes sold, reflecting the evolving trends in Bend's real estate landscape. The combination of outdoor recreation, family-friendly atmosphere, and a diverse real estate market makes Bend an ideal and evolving community for those seeking a dynamic living experience.
YEAR END REPORT
2022
2023
% CHANGE
BEND
Homes Sold This Year
2889
2244
- 22.32 %
RESIDENTIAL
Median Days on Market
9
20
122.22 %
Median Sale Price
$730,000
$720,000
- 1.37 %
New Listings
3559
2853
- 19.83 %
Month With Most Homes Sold
May
June
?
Month With Least Homes Sold
December
January
?
% List to Sale
81.19 %
78.67 %
- 3.10 %
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.
- 1.37% M EDIAN SALE PRICE
BEND.EVREALESTATE.COM
M ARKET REPORT | 2023 CENTRAL OREGON REVIEW
YEAR END REPORT
SUNRIVER
Sunriver, with a population of just over 1,100 residents, is known as the place where the Pacific Northwest comes to vacation. In 2022, Sunriver's real estate market flourished, witnessing the sale of 214 homes with an impressively short median days on market of 8. The median sale price reached $810,500, supported by 239 new listings. September emerged as the peak month for home sales, contributing to Sunriver's reputation as a sought-after vacation destination. In 2023, the market experienced a slight decrease, with 159 homes sold and a still-short median days on market (21). The median sale price remained robust at $768,500, complemented by 231new listings. Notably, August took the lead as the month with the highest number of homes sold, showcasing the evolving trends in Sunriver's real estate landscape. The combination of a small-town feel, vacation appeal, and a thriving real estate market makes Sunriver an attractive destination for those seeking a picturesque and recreational living experience.
2022
2023
% CHANGE
SUNRIVER
Homes Sold This Year
214
159
- 25.70 %
RESIDENTIAL
Median Days on Market
8
21
162.5 %
$810,500
$768,500
- 5.18 %
239
231
- 3.35 %
Month With Most Homes Sold
September
August
?
Month With Least Homes Sold
December
December
?
% List to Sale
89.54 %
68.81%
- 23.14 %
YEAR END REPORT
Median Sale Price New Listings
/ colleenpeterson.realestate
45.57% M EDIAN SALE PRICE
CELLEENPETERSON.EVREALESTATE.COM
YEAR END REPORT
LA PINE
La Pine, with a population of just over 2,500 people, offers a smaller community with larger lots of land, providing an ideal setting for those seeking a close-knit atmosphere. The town is renowned for its amazing fishing and hiking opportunities. In 2022, La Pine's real estate market was robust, witnessing the sale of 407 homes with a median days on market of 34. The median sale price reached $426,000, supported by 560 new listings. June stood out as the peak month for home sales, contributing to the town's vibrant real estate scene. In 2023, the market experienced a decrease with 294 homes sold and a longer median days on market (48). Despite this, the median sale price remained competitive at $385,000, complemented by 411 new listings. Notably, August took the lead as the month with the highest number of homes sold, highlighting the evolving trends in La Pine's real estate landscape. The combination of a smaller community, spacious lots, and abundant outdoor activities makes La Pine an attractive and evolving destination for those seeking a tranquil living experience.
YEAR END REPORT
2022
2023
% CHANGE
LA PINE
Homes Sold This Year
407
294
- 27.76 %
RESIDENTIAL
Median Days on Market
34
48
41.18 %
Median Sale Price
$426,000
$385,000
- 9.62 %
New Listings
560
411
- 26.61%
Month With Most Homes Sold
June
August
?
Month With Least Homes Sold
December
December
?
% List to Sale
72.68 %
71.51%
- 1.61%
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.
- 9.62% M EDIAN SALE PRICE
BEND.EVREALESTATE.COM
M ARKET REPORT | 2023 BEND NEIGHBORHOOD REVIEW
YEAR END REPORT
2022
2023
% CHANGE
BOYD ACRES
Homes Sold This Year
239
174
- 27.2 %
RESIDENTIAL
Median Days on Market
9
25
177.78 %
$679,000
$654,500
- 3.61%
Median Sale Price
- 3.61%
New Listings
303
192
- 36.63%
Month With Most Homes Sold
June
May
?
Month With Least Homes Sold
November
October
?
% List to Sale
78.88 %
90.63 %
26.17 %
M EDIAN SALE PRICE
YEAR END REPORT
2022
2023
% CHANGE
AW BREY BUTTE
Homes Sold This Year
145
123
- 15.17 %
RESIDENTIAL
Median Days on Market
15
20
33.33 %
$1,240,000
$1,125,000
- 9.72 %
193
182
- 5.70 %
Month With Most Homes Sold
August
July
?
Month With Least Homes Sold
January
January
?
% List to Sale
75.13 %
67.58 %
- 10.06 %
Median Sale Price New Listings
/ colleenpeterson.realestate
- 9.72% M EDIAN SALE PRICE
CELLEENPETERSON.EVREALESTATE.COM
YEAR END REPORT
2022
2023
% CHANGE
SUM M IT W EST
Homes Sold This Year
260
222
- 14.62 %
RESIDENTIAL
Median Days on Market
11
17
54.55 %
$1,177,500
$1,201,000
1.99 %
Median Sale Price New Listings
1.99%
315
257
- 18.41%
Month With Most Homes Sold
May/July
June
?
Month With Least Homes Sold
February
November
?
% List to Sale
82.54%
86.35 %
3.70 %
M EDIAN SALE PRICE
YEAR END REPORT
2022
2023
% CHANGE
RIVER W EST
Homes Sold This Year
125
85
- 32 %
RESIDENTIAL
Median Days on Market
7
14
100 %
Median Sale Price
$930,000
$910,000
-2.15 %
New Listings
148
108
- 27.03 %
Month With Most Homes Sold
April
September
?
Month With Least Homes Sold
December
January
?
% List to Sale
84.46 %
78.70 %
- 7.26 %
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.
-2.15% M EDIAN SALE PRICE
BEND.EVREALESTATE.COM
M ARKET REPORT | 2023 BEND NEIGHBORHOOD REVIEW
YEAR END REPORT
2022
2023
% CHANGE
ORCHARD DISTRICT
Homes Sold This Year
94
60
- 36.17 %
RESIDENTIAL
Median Days on Market
8
12
50 %
$600,000
$609,000
1.50 %
Median Sale Price New Listings
1.50%
120
78
- 35 %
Month With Most Homes Sold
February
August
?
Month With Least Homes Sold
January
Jan/April/Nov
?
% List to Sale
78.33 %
76.92 %
- 1.80 %
M EDIAN SALE PRICE
YEAR END REPORT
2022
2023
% CHANGE
OLD BEND
Homes Sold This Year
28
12
- 57.14 %
RESIDENTIAL
Median Days on Market
7
16
128.57 %
Median Sale Price
$835,000
$1,216,000
47.57 %
New Listings
32
34
6.25 %
Month With Most Homes Sold
June
March
?
Month With Least Homes Sold
September
Nov/Dec/Jan/Feb
?
87.50 %
35.29 %
- 59.76 %
% List to Sale
/ colleenpeterson.realestate
47.57% M EDIAN SALE PRICE
CELLEENPETERSON.EVREALESTATE.COM
YEAR END REPORT
2022
2023
% CHANGE
M OUNTAIN VIEW
Homes Sold This Year
283
210
- 28.80 %
RESIDENTIAL
Median Days on Market
8
15
87.50 %
$575,000
$563,272
- 2.04%
Median Sale Price
- 2.04%
New Listings
350
223
- 36.29 %
Month With Most Homes Sold
March
June
?
Month With Least Homes Sold
December
January
?
% List to Sale
80.86 %
94.17 %
16.48 %
M EDIAN SALE PRICE
YEAR END REPORT
2022
2023
% CHANGE
LARKSPUR
Homes Sold This Year
134
104
- 22.39 %
RESIDENTIAL
Median Days on Market
6
13
116.67 %
Median Sale Price
$852,500
$554,000
- 35.05 %
New Listings
171
144
- 15.79 %
Month With Most Homes Sold
April
April
?
Month With Least Homes Sold
December
December
?
% List to Sale
78.36 %
72.22 %
- 7.86 %
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.
- 35.05% M EDIAN SALE PRICE
BEND.EVREALESTATE.COM
M ARKET REPORT | 2023 BEND NEIGHBORHOOD REVIEW
YEAR END REPORT
2022
2023
% CHANGE
CENTURY W EST
Homes Sold This Year
205
197
- 3.90 %
RESIDENTIAL
Median Days on Market
7
21
200 %
$1,025,000
$975,000
- 4.88 %
Median Sale Price
- 4.88%
New Listings
238
241
1.26 %
Month With Most Homes Sold
April
June
?
Month With Least Homes Sold
December
January
?
% List to Sale
86.13 %
81.74 %
- 5.10 %
M EDIAN SALE PRICE
YEAR END REPORT
2022
2023
% CHANGE
SOUTHW EST BEND
Homes Sold This Year
173
140
- 19.08 %
RESIDENTIAL
Median Days on Market
6
15
150 %
Median Sale Price
$720,000
$680,000
- 5.56 %
New Listings
208
163
- 21.63 %
Month With Most Homes Sold
May
June
?
Month With Least Homes Sold
December
December
?
83.17 %
85.89 %
3.27 %
% List to Sale
- 5.56% M EDIAN SALE PRICE
YEAR END REPORT
2022
2023
% CHANGE
SOUTHERN CROSSING
Homes Sold This Year
63
36
- 42.86 %
RESIDENTIAL
Median Days on Market
7
8
14.29 %
$795,000
$794,000
- 0.13 %
Median Sale Price
- 0.13%
New Listings
76
52
- 31.58 %
Month With Most Homes Sold
April
May
?
Month With Least Homes Sold
January
March/December
?
% List to Sale
82.89 %
69.23 %
- 16.46 %
M EDIAN SALE PRICE
YEAR END REPORT
2022
2023
% CHANGE
OLD FARM DISTRICT
Homes Sold This Year
352
275
- 21.88 %
RESIDENTIAL
Median Days on Market
9
19
111.11%
$642,037
$601,995
- 6.24 %
423
280
- 33.73 %
Month With Most Homes Sold
September
June
?
Month With Least Homes Sold
April
November
?
83.22 %
98.21%
18.02 %
Median Sale Price New Listings
% List to Sale
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All
- 6.24% M EDIAN SALE PRICE
M ARKET REPORT | 2023 BEND NEIGHBORHOOD REVIEW
YEAR END REPORT
2022
2023
% CHANGE
SOUTHEAST BEND
Homes Sold This Year
116
94
- 18.97 %
RESIDENTIAL
Median Days on Market
8
25
212.50 %
$739,450
$712,000
- 3.71%
Median Sale Price New Listings
132
122
- 7.58 %
Month With Most Homes Sold
April
Dec/Jan/April
?
Month With Least Homes Sold
September
May
?
% List to Sale
87.88 %
77.05 %
- 10.92 %
/ colleenpeterson.realestate
- 3.71% M EDIAN SALE PRICE
CELLEENPETERSON.EVREALESTATE.COM
YEAR END REPORT
2022
2023
% CHANGE
DRW
Homes Sold This Year
95
54
- 43.16 %
RESIDENTIAL
Median Days on Market
14
14
0%
$600,000
$553,625
- 7.73 %
Median Sale Price New Listings
105
68
- 35.24 %
Month With Most Homes Sold
March
April/October
?
Month With Least Homes Sold
December
September
?
% List to Sale
90.48 %
79.41%
- 12.22 %
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.
- 7.73% M EDIAN SALE PRICE
BEND.EVREALESTATE.COM
Colleen Pet erson Global Real Estate Advisor ? +1(541) 213-9810 Colleen.peterson@evrealestate.com Colleenpeterson.evrealestate.com
©2024 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principals of the Fair Housing Act. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.