Are Home Prices in Oregon Dropping? What Central Oregon Data Actually Shows
By Diana Pullen | Listing Specialist, Real Broker LLC | Serving Redmond, Bend, Terrebonne, Culver, Sisters, Prineville, Madras, La Pine, and surrounding communities
If you've been Googling this question, you're not alone. It's one of the most common things sellers and buyers are searching right now, and the headlines don't make it easy to get a clear answer. So let me give you one, using real local data from the Redmond market rather than statewide averages that may or may not reflect what's happening in your backyard.
What the Statewide Data Says
Oregon home prices statewide are essentially flat year over year. Redfin's August 2026 data shows a median Oregon home price of $506,889, down just 0.61% compared to last year. Zillow puts the statewide average home value at $504,432, down about 0.5% year over year.
That's not dropping. That's stabilizing after years of significant appreciation. The frenzied seller's market of 2020 through 2022 pushed prices up dramatically across the state. What we're seeing now is the market finding its footing at a more sustainable level, not a correction.
Mortgage rates hovering in the mid-7% range have cooled buyer urgency compared to the pandemic era, which has given the market more balance. More balance means buyers have more options and more time to decide. It also means sellers who price correctly are still selling well, and sellers who price above market are sitting longer than they'd like.
What the Redmond Data Specifically Shows
Here's where it gets more useful for you as a Central Oregon homeowner.
Median sold price comparison:
Same period last year (2025): $543,248
Current median sold price (closed sales, last 90 days 2026): $539,950
That's a difference of about $3,300 at the median, or roughly 0.6%. Essentially flat. Not a drop, not a surge; a stable market holding within a very narrow range year over year.
Days on market:
2025: 65 days average, 71 cumulative
2026 active listings: 99 days average, 117 cumulative
This is the more meaningful shift. Homes are taking longer to sell in 2026 than they did in 2025. That's not a price story; it's a patience story. Buyers have more inventory to choose from and they're taking their time. Sellers who price correctly are still closing. The ones who don't are sitting in that growing days on market number.
List to sold ratio:
The current median list-to-sold ratio is 97.07%, meaning sellers are getting very close to their asking price when they do sell. That's a healthy number. It tells you buyers aren't lowballing and sellers aren't in a desperate position; the market is transacting at close to asking on well-priced homes.
Current inventory:
There are 270 active single family homes for sale in Redmond right now. That's more selection than buyers have had in recent years, which contributes to the longer days on market. More choices mean buyers take longer to decide, and homes that aren't priced competitively within that pool sit while correctly priced ones move.
So Are Prices Dropping in Central Oregon?
Not meaningfully. The data shows a market that is flat to very slightly softer than last year at the median, with homes taking longer to sell and slightly more inventory available. That's a balanced market, not a declining one.
The homes that are struggling are the ones priced above where the market is transacting. With 270 active listings in Redmond and buyers taking their time, competition among sellers is real. A home priced 5% above market doesn't just sit; it actively makes the correctly priced competition look better by comparison.
The homes that are selling are the ones priced to match what closed sales data supports, in good condition, marketed well. Those are still moving and still closing at or near asking price.
What This Means If You're Thinking About Selling
The window to sell is still open. Equity positions for long-term Redmond homeowners remain strong even with flat year-over-year price movement, because the appreciation that happened between 2019 and 2023 was substantial. If you bought your home in Redmond for $300,000 ten or fifteen years ago, your equity story is very different from someone who bought at the peak in 2022.
The key is realistic pricing based on current closed sales data, not what you hope the market will pay or what your home was worth at the peak. The sellers getting clean, smooth transactions right now are the ones who came in priced correctly from day one and didn't have to chase the market down with reductions.
If you're wondering whether now is still a good time to sell in Redmond, the honest answer is yes for most long-term owners. But the strategy matters more now than it did in 2021 when everything sold regardless. This market rewards preparation and pricing. It exposes the sellers who skip those steps.
Want to Know Where Your Home Stands?
If you want a current, data-based picture of what your Redmond home is worth right now and what a realistic sale would look like in this market, that's exactly the conversation I have with sellers before we ever talk about listing.
Diana Pullen, listing specialist in Redmond and Central Oregon, Real Broker LLC. Real data, straight answers, no pressure.
https://www.calendly.com/diana-soldincentraloregon/consult
Market data reflects Redmond Oregon MLS closed sales and active listing statistics as of 2026. Statewide data sourced from Redfin and Zillow, August 2026. All figures are approximate and subject to change. This post is for informational purposes only and does not constitute financial or investment advice.
