Central Oregon Residential Real Estate Brief November 9, 2026
The clearest development this week is the continued seasonal decline in available homes without a corresponding improvement in selling speed. Bend’s asking inventory contracted but exposure lengthened and the median asking price moved below $800,000. Bend also amended an affordable housing incentive policy, although the program remains closed to new applicants.
Current market pulse..
Beacon Appraisal had not posted its November report as of November 9, so September remains the latest publicly verified Cascades East Association of Realtors (CEAR) based closed sales period. A separate Altos Research snapshot provides a more current view of active single family asking inventory. It is not a CEAR closed sales report and its geographic boundaries and how it calculates it’s data differs from the Beacon report.
Area | Active listings, Oct. 30 | Change from Oct. 23 | Median market time | Listings reduced |
Bend | 744 | −9 | 84 days | 54% |
Redmond | 293 | +3 | 84 days | 60% |
Sisters | 144 | +2 | 116 days | 41% |
Sunriver | 72 | −5 | 119 days | 42% |
La Pine | 192 | −2 | 119 days | 58% |
Bend’s median asking price fell from $829,900 to $799,900 during the week, while median market time increased from 77 to 84 days. That does not mean Bend home values fell 3.6% in a week. It just means that the composition of active listings changed which reinforces that aspirational pricing is struggling and sellers are adjusting to today’s market conditions. In Deschutes County single family inventory fell from 1,326 to 1,263 listings. Of 38 pending sales, 24 had reduced their asking prices by an average of nearly 8% before securing a contract. This is proof that buyers are out there and are responding to meaningful price adjustments not simply lower inventory.
A few things to consider…
- Bend: Seasonal supply is shrinking but longer exposure and widespread reductions favor well prepared buyers.
- Redmond: Inventory increased slightly and 60% of active listings had reduced prices the strongest reduction share in our five market area.
- Sisters and Sunriver: Approximately four months of active listing exposure makes individual seller motivation more important than the monthly median.
- La Pine: At 119 median days and 58% with reductions, it remains the clearest buyer leverage market.
- Tumalo: 36 properties listed for sale with an average of 117 days on market. All of the recent sales have been 20 acre or smaller properties.
Bend Housing Incentive Amended…
On November 4, the Bend Urban Renewal Agency adopted Resolution BURA 179, effective immediately. It expands the forms of assistance available to five previously approved housing and employment projects to include applicable system development charges and permit fees. The change responds partly to a prevailing wage determination affecting annual tax rebate assistance. bendoregon.gov
The important limitation: this is not a newly available incentive for developers. The resolution specifically says the program remains paused and is not accepting new applications. Existing housing criteria still include reserving at least 15% of units for households earning no more than 90% of area median income, with rent increases below Oregon’s statutory maximum.
State policy watch…
Oregon’s official rulemaking page still shows Division 47 as a draft considered for possible adoption October 22; it does not yet provide a filed final rule or effective date. Accordingly, the Oregon Homes provisions should still be described as proposed or adoption unconfirmed, not as an operative rule. A separate Division 46 middle housing model code update is proposed for a December 3 hearing and possible adoption. oregon.gov
Bottom line…
What changed: Asking inventory declined in Bend, Sunriver and La Pine but marketing times have lengthened. Bend amended assistance for five previously approved projects, while keeping the incentive program closed to new applications.
Why it matters: Falling seasonal inventory does not automatically restore seller leverage. Correctly priced homes are selling though what the sales data shows is that many listings need substantial reductions before buyers engage.
What to watch: The November Beacon/CEAR report for October closings should be out this week. It should show that Bend has entered the slower selling season with longer market time than we have already been seeing. The state should post a final Division 47 filing and effective date.
