For those unfamiliar with the region, Central Oregon is often synonymous with Bend. Bend’s rapid population growth and booming real estate market have been widely documented—but what about the surrounding communities?
To understand what today’s numbers really mean, we need to put them into context. Let’s start with a quick snapshot of national trends and compare them to the Central Oregon housing market back when hits like “Uptown Funk” and “Thinking Out Loud” were topping the charts and “Better Call Saul” had just premiered on AMC (that would be 2015).
A common rule of thumb across many sources is that residential real estate typically appreciates about 3–5% annually, or roughly 30–50% over a decade, in what would be considered a “normal” market.
National Real Estate Growth (Data: Federal Reserve Bank of St. Louis)
Median Home Sale Price
Q4 2015: $302,500 | Q4 2025: $405,300
Increase: 34%
Average Home Sale Price
Q4 2015: $366,700 | Q4 2025: $534,000
Increase: 46%
Overall, national home prices have largely stayed within the expected 3–5% annual appreciation range.
Bend Real Estate Growth (Data: Local Flex MLS – Residential Homes)
Median Home Sale Price
Q4 2015: $342,260 | Q4 2025: $749,400
Increase: 119%
Average Home Sale Price
Q4 2015: $408,576 | Q4 2025: $963,716
Increase: 136%It has been discussed at length, but it’s still worth repeating: Bend’s real estate market experienced extraordinary growth during the COVID years, pushing prices to levels that were difficult to sustain long-term.
Redmond Real Estate Growth (Data: Local Flex MLS – Residential Homes)
Median Home Sale Price
Q4 2015: $230,000 | Q4 2025: $540,750
Increase: 135%
Average Home Sale Price
Q4 2015: $265,414 | Q4 2025: $618,132
Increase: 133%
While Bend often grabs the headlines, Redmond’s housing market has quietly grown at an equal—if not greater—rate. For years, it was common to hear that the same home in Redmond would cost roughly $200,000 more in Bend. At the lower price ranges, that gap is no longer nearly as wide.
Sisters Real Estate Growth (Data: Local Flex MLS – Residential Homes)
Median Home Sale Price
Q4 2015: $449,500 | Q4 2025: $806,000
Increase: 79%
Average Home Sale Price
Q4 2015: $501,173 | Q4 2025: $907,805
Increase: 81%
Sisters is a more unique market due to its lower sales volume, but even with fewer transactions its growth still far exceeds the national average.
Sunriver Real Estate Growth (Data: Local Flex MLS – Residential Homes)
Median Home Sale Price
Q4 2015: $383,500 | Q4 2025: $867,500
Increase: 126%
Average Home Sale Price
Q4 2015: $422,505 | Q4 2025: $1,027,207
Increase: 143%
Like Sisters, Sunriver has fewer transactions, which can make prices appear more volatile depending on a handful of high-value sales. Still, its long-term growth has largely mirrored the dramatic appreciation seen in Bend and Redmond.
Concluding Thoughts
Bend often receives the spotlight when people talk about Central Oregon’s real estate boom—and for good reason. But the data shows that the surge in home values has not been limited to Bend. Over the past decade, surrounding communities have experienced similarly dramatic growth. Recently, however, we’ve begun to see some homes purchased during the peak of the early 2020s selling for roughly what they were bought for—or occasionally even less. That’s one of the natural consequences of a market that rises too quickly: eventually, prices need time to catch up with themselves.
This article appears in the Source March 19, 2026.
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