Sales decline across most of Central Oregon
Central Oregon homes sold at a much slower pace than usual during the first quarter, and prices declined in Jefferson County and Sunriver, according to the Central Oregon Association of Realtors.
Prices were stable across most of the region, despite the lack of activity, the Realtors association said. The first-quarter report showed that 16% fewer homes were sold than in the first quarter of 2018, but the median price of all homes was up 3.92%.
“Across the region we are seeing a slowing in sales due to decreasing inventory levels, especially at the lower end of the market,” association spokeswoman Kim Gammond stated in an email.
Weather was a factor in the first quarter, Gammond said, but the Realtors also noted that La Pine was one of the few areas to see an increase in sales. Snowfall is typically greater in La Pine, but the median price in the area was the lowest in Deschutes County at $260,000.
Here are highlights of the report, which covers all residential sales including manufactured homes, condos, town houses and timeshares:
• Bend had 516 home sales, down 26% from the first quarter of 2018. The median price was $441,000, up 8% from the prior year.
• Crook County home sales were essentially level with first quarter of last year at 109. The median sales price was $265,000, up 6% from a year ago.
• Jefferson County had 38 sales, down from 53 a year ago. The median sales price was $187,000, down 4% from a year ago.
• La Pine/Three Rivers South had 116 sales, up 20% from a year ago. The median sales price of $260,000 was up slightly from $259,000 last year.
• Redmond/Terrebonne/Crooked River Ranch had 230 sales, down 14.5% from a year ago. The median sales price was $310,000, up 11% from first quarter 2018.
• Sisters had 55 sales, similar to 57 a year ago. The median sales price was $410,000, up 9% from last year.
• Sunriver had 50 sales, similar to 48 last year. The median price fell 5% from $403,000 in first quarter 2018 to $382,000.
— Reporter: 541-617-7860, email@example.com