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Just driving anywhere through Bend or Redmond you can see countless rows of signs or flags for budding residential developments coming up in spring to the end of the year. Notable South County residential developments and sales include Caldera Springs’ new expansions Wildlife Forest Preserve Homesites and Forestbrook Vacation homes in Sunriver.
For the first quarter of 2025, according to First American Title subdivision sales reports divides sales in existing homes by Bend’s NW, NE, SW and SE. Largest sales are in the Northwest with 126 sales, average sales price of $1,190,000; then the Northeast with 122 Sales, average sales price of $672,000; the Southeast with 83 sales, with average sales price of $1,013,000; and the Southwest with 80 sales, with average sales price of $917,000.
In Redmond 97756 zip code, with 220 sales, with average sales price of $620,000.
In Bend/Sunriver also known as Three Rivers South 97707 zip code, with 92 sales, with average sales price of $693,000. Average sales price of resort properties of Sunriver, Caldera Springs and Crosswater run higher than the average Three Rivers South 97707 homes’ sales prices.
In La Pine 97739 zip code, with 72 sales, with average sales price of $376,00.
Recent notes from appraisers are important because appraisers often direct lenders to determine whether they will give a buyer a loan or the amount of the loan, based on the appraiser’s report on the market activity, condition and value of existing or new homes in question:
“As is common in the Central Oregon real estate market, it appears that market activity has begun to increase as the Spring season approaches,” according to State-Certified Appraiser Donnie Montagner of Beacon Appraisal Group’s Beacon Reports.
His first quarter report tracks the larger markets of Bend and Redmond: “In February 2025: the SFR median sale price in Bend in January was $735k, which is higher than was seen in January of 2023 and 2024. The number of sales was also higher than in January of the prior two years. The SFR inventory level in Bend is around a 2.5-month supply. Redmond had a significant increase in median sale price last month which was a result of four SFR sales that sold higher than $750k. There were 32 total SFR sales in Redmond last month, which is in line with Jan 2023-2024. The SFR inventory in Redmond is holding steady at around a two-month supply.
“In March: Bend SFR market increased – slightly- in inventory last month and the median marketing times in Bend and Redmond declined in February. New SFR building permits increased in Bend and declined slightly in Redmond. 18% of sales in Bend were $1 Million and over sale prices.
“In April: -The smaller market quarterly figures are updated in this report. Most small SFR market areas in Central Oregon had a slight increase in inventory in the first quarter of 2025 when compared to the last quarter of 2024. The SFR inventory in Bend and Redmond is three and two months respectively; not a lot of change from the last quarter of 2024.
“The Bend SFR market had a boost in the number of sales last month and the median marketing time declined to 32 days: the lowest since September of 2024. There was a slight change in price trend and number of sales in Redmond last month. The median marketing time in Redmond declined to 34 days, the lowest in the past three months.”
At beaconappraisers.com/market-overviews, you can find more detailed information for single family residential home sales in Bend and Redmond, such as number of sales, days on market, median sales price per square foot, number of months’ supply of inventory, number of conventional financing versus cash transactions. There is less information there on the smaller markets of Sisters, Sunriver, La Pine and Jefferson and Crook County residential developments.
Since so many homeowners had refinanced their homes to historically low rates, owners are understandably hesitant about putting their home up for sale unless life or job changes warrant relocating. Why would homeowners want to move to pay higher interest rates on a loan if they are already free and clear of their mortgage — unless selling now at the higher prices would yield them net sale proceeds to be free and clear of mortgages if they moved or would only require a small loan?
So, existing homes’ inventory is still low. Many baby-boomers’ existing homes need updating to be able to compete with newly constructed homes when they are ready to upsize or downsize. But due to tariffs, the cost of building materials is expected to rise, and consequently contractors’ bids will increase so new construction home prices will predictably escalate. In either case, to attract buyers who are paying higher sales prices and higher interest rates on their loans, builders, savvy sellers and would-be buyers are looking to raise their homes’ market value or their income with home improvements, room additions for multi-generational house mates or ways to make rental income. Local builders are now offering homes with Accessory Dwelling Units (ADUs), larger garages and/or “mother-in-law quarters” or additional primary suites.
Otherwise, homeowners have the same opportunities to expand their existing living quarters and to build income or offset higher mortgage rates with ADUs and other income-generating opportunities in upcoming county discussions. Deschutes County Commissioner Tony DeBone points out, “The state legislature has authorized counties to allow Accessory Dwelling Units (ADU) and is also starting discussion about Recreational Vehicles (RV) as a long-term rental. Deschutes County has taken the opportunity for rural residents to build an accessory dwelling unit (ADU) on certain rural properties that can be used for a family member to live long term, or it can be rented. The path for planning and permits is available at this website for deschutes.org/adu and deschutes.org/rv.
According to Community Development Director Peter Gutowsky, “In 2023, Deschutes County adopted state legislation (SB 391) that allow for Rural Accessory Dwelling Units in certain zones. Regarding RVs as rental dwellings, those rules are not yet in effect. The Board of County Commissioners will be considering an ordinance for first reading on May 7.” If you have additional questions, Tanya Saltzman, senior planner, can be reached at, Tanya.Saltzman@deschutes.org.
Between 2010 and 2020, Deschutes County’s unincorporated areas grew by 40,520 people, a 25-percent jump and the City of La Pine’s population rose from 1,640 to 2,512, a 53-percent hike, according to the U.S. Census Bureau. In July 2023, La Pine was cited as Oregon’s fastest-growing city, according to Portland State University’s Population Estimate Reports.
According to La Pine’s City Manager Geoff Wullschlager, these are the area’s most recent housing projects applied for or in the pipeline:
| Subdivision | Status | Location: |
| Habitat (34 Townhomes) | Approved (City) | Newberry
Neighborhood |
| Finley Butte Ranch
(89 Residential Lots) |
Under Review* | East of
Huntington Meadows |
| Spike Acres (10 lot subdivision) | Under Review* | Cagle Neighborhood |
| Trailhead (22 lots) | In Development | North of
Huntington Meadows |
| Reserve in the Pines
(Estimated 20-30 res. Lots) |
In Development | Newberry
Neighborhood |
| Ponderosa Park
(45 lot subdivision – 44 single family, 1 multi-family) |
Approved (City) | North of
Huntington Meadows |
*Under Review does not guarantee approval or future development
| Multi-Family Housing Projects | Status | Location: |
| Huntington Apartments
(59 units) |
In Development | West of Newberry
Neighborhood |
| Drafter Rd Apartments
(39 units) |
Approved (City) | North La Pine –
Drafter Rd. |
| Momentasize (11 units) | Approved (City) | North of
Huntington Meadows |
“The City of La Pine is in an auspicious position with regards to residential development, when compared to the Central Oregon region,” said Wullschlager. “This is primarily attributable to the abundance of available residential land within city limits, coupled with the recent large capital expansion of its water and sewer infrastructure. Because of the rapid increase of housing within the community, the city is having to add additional system expansion to the sewer system to meet growing capacity requirements.”
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