As Bend home prices surge, more C.O. homebuyers look elsewhere in region
Median home sales price in Bend has reached nearly $450,000
BEND, Ore. (KTVZ) -- According to the Central Oregon Association of Realtors, Bend home sales prices averaged about $450,000 at the end of 2019.
To learn more about what has contributed to the rising house prices, NewsChannel 21 tagged along with Bend Realtor Sam DeLay. DeLay said some factors include the growing population and increasing diversity in the area's demographics.
“We see a huge range of people,” DeLay said. “You see retirees come here, because there are so many outdoor recreational things to do, and you see young families come here because of the schools.”
DeLay showed NewsChannel 21 inside a three-bedroom, two-bath house in the Boyd Acres neighborhood. At 1,893 square feet, the single-level house, built in 2013, costs $447,000.
“It’s a single-level home, which tends to be more desirable, especially for folks coming here to retire,” DeLay said.
Next, he showed NewsChannel 21 inside a three-bedroom, 2.5-bathroom house in Southwest Bend. Built in 2004, it has two stories and 2,358 square feet of space. Although it is older, it is also more expensive, selling for $450,000.
“You’re seeing people go to the outskirts of Bend, because you get a lot of the same amenities,” DeLay said.
According to Redmond Realtor Gail Rogers, the median home sales price in Redmond in 2019 was $372,000. That's a 3% increase from the Redmond median sales price in 2018. Still, it’s about $100,000 less than the Bend median sales price.
Rogers took NewsChannel 21 to Canyon Rim Village, a newly constructed neighborhood on the edge of Redmond’s Dry Canyon Trail. She said the price for a three-bedroom, two-bathroom single-level house in the neighborhood falls between $300,000 and $330,000.
Chris Davis, the regional director of Central Oregon Hayden Homes, said the cost of a 2,000-square=foot house, complete with a three-car garage, in Emerald View Estates falls a bit closer to the Bend median sales price. He said homebuyers would expect to pay anywhere from the low to mid-$400s.
To see how housing prices compare south of Bend, NewsChannel 21 headed to La Pine to meet up with Realtor Terri Buxton.
Buxton showed a three-bedroom, two-bathroom, single-level house built in 2008. The house is about 1,700 square feet and comes with a fully finished shop and two additional sheds. The house is for sale at about $419,000, almost $30,000 less than Bend’s median sales price.
Buxton also showed NewsChannel 21 a newly built home in La Pine’s Crescent Creek neighborhood. The house is about 1,853 square feet, and it includes three bedrooms, two bathrooms and a two-car garage. Completed in 2019, the house costs $335,000, more than $100,000 less than the median sales price in Bend.
According to DeLay, Buxton, and Rogers, the surge in median sales prices was likely spurred by the number of new developments brought to the Central Oregon housing market as the area continues to grow, along with the demand for housing.