Local News

Median Home Prices Soar

Median home prices in Central Oregon are skyrocketing and owners are receiving massive equity in a short period of time. In Bend, the average home price in January was $683,000 dollars, jumping more than eight percent to $740,000 in February. Local realtor Chad Pasinetti, of Pasinetti Group Northwest, said neighboring cities also saw spikes over the last month, but from January 2022 to February 2022, Redmond was the only city that went down from $500,000 to $483,000. While a drop, it’s still the highest in history. Pasinetti  doesn’t see demand slowing down and feels the prices are strictly due to lack of inventory and a case of supply and demand. Too few properties and too many people moving here with available homes are selling fast. The average number of days on the market for a home in Redmond is seven; in Bend four; Sunriver is three days; and in Sisters, houses usually sell in two days. 

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