Statistics may not be everyone's cup of tea, but looking at the numbers provides a baseline in times of uncertainty. Home prices are rising across the board, and vacant lots are not far behind. The sale of larger acreage increased significantly in 2020, as well as higher-priced homes:
Deschutes County Vacant land sold $1-2M
2016 - 4 sold lots
2017 - 4 sold lots
2018 - 4 sold lots
2019 - 4 sold lots
2020 - 11 sold lots
By 2016, Central Oregon real estate had mostly recovered from the sub-prime lending debacle, and more buyers were focusing on the high desert. The surge in new buyers increased sales in the higher price points significantly:
Deschutes County Sold Homes between $1-2M
2016 - 100 sold homes
2017 - 131 sold homes
2018 - 183 sold homes
2019 - 231 sold homes
2020 - 436 sold homes
Deschutes County Sold Homes between $2-3M
2016 - 5 sold homes
2017 - 11 sold homes
2018 - 13 sold homes
2019 - 17 sold homes
2020 - 35 sold homes
As a point of reference, in 2010, in Deschutes County, there were 18 homes sold between $1-2M, and two sold between $2-3M. There are currently 52 homes listed for sale between $1-2M, and 16 listed between $2-3M.
With 75 homes listed between 250-500k, and 119 listed between 500k-$1M, homeownership is still in reach for most buyers, and record-low interest help immensely.
All of the statistics are meaningless without local, onsite knowledge of the real estate inventory. If there is a home, lot, or acreage you are considering, there is a strong chance I have already researched the property.
