Redmond was Central Oregon’s fastest-growing home market in the second quarter, according to a report by the Central Oregon Association of Realtors.
The Redmond/Terre Bonne/Crooked River Ranch area saw double-digit growth in both median price and sales volume compared to the second quarter of 2018. The median price rose 11.78% to $324,977, and sales volume rose 12.32% to 401 transactions.
Sisters and Jefferson County saw larger increases in median price, but it wasn’t accompanied by large volume increases. In Jefferson County, the median price rose 13% to $240,000, and in Sisters it rose 12.25% to $480,975.
Sales volume in Jefferson County was similar to last year: 71 transactions, compared with 68 in the second quarter of 2018.
Volume declined significantly in Sisters.
There were 70 transactions in the second quarter, down 27% from 96 last year. Sisters had a notable number of all-cash transactions — 40%, according to ECONorthwest, which prepares the report for the real estate association.
Bend, which is Central Oregon’s largest real estate market, posted an 8.21% increase in median price, which was $459,900. Volume rose 1.87% from last year to 872 transactions.
Crook County and the La Pine/Three Rivers South area followed a similar pattern of strong price growth with flat sales volume. In Crook County, the median price rose 8.92% to $275,000. There were 127 transactions, compared to 130 during second quarter 2018.
The median price in the La Pine area was $279,450, up 7.48% from last year. Sales volume also fell 10% to 140 transactions from 157 last year.
Sunriver saw declines in both price and volume. The median sale price was $475,000, down 5.94% from the same period last year. The number of transactions also declined from 78 to 73. No newly built homes were sold in Sunriver.
Sunriver continued to have the quickest turnaround in the region. Homes sold in the second quarter spent a median 49 days on the market.