Deschutes County includes La Pine, Bend, Redmond, Terrebonne, and Sisters. This morning there are 196 single-family homes for sale in Deschutes County, with the median list price of 899k and median days on the market of 34. In addition to the single-family homes for sale in Deschutes County, there are six condos, 14 manufactured homes on land, 33 townhomes, and 37 timeshares available. Buyer demand has put increasing upward pressure on home prices, as you can see here:
Volume and Median List Price by City
Bend: 94 homes for sale, $1,145,000
Redmond: 45 homes for sale, $560,910
Terrebonne: 7 homes for sale, $985,000
Sisters: 33 homes for sale, $768,250
La Pine: 8 homes for sale, $419,500
Madras: 22 homes for sale, $413,914
Prineville: 30 homes for sale, 392,400
The projections for the first several months of 2021 show firm to rising home prices with little new inventory. The median days on the market for pending homes last week was five, with 7% of Bend's listings seeing a price increase. In an average year, home inventory starts building at this time of year, leading into the busy spring and summer months. With rampant speculation in all financial markets and strong buyer demand for homes in Central Oregon, I do not anticipate a flood of inventory to alleviate the need. Many home sellers interested in upsizing or downsizing within Central Oregon are sitting on the sidelines because of the high re-entry cost.
Real estate is rarely in a balanced state, yet home sales happen every day of the week. Knowing the market and making wise choices are vitally important in today's market conditions. Please use the free tools available on EnjoyBendLife, like Market Trends, Market Reports, or the Sold Property Search. Whenever you need anything, I am just a phone call away!
