Homes in overbuilt areas of Central Oregon are on the market for about half of what they sold for a few years ago.
The residential real estate market in Central Oregon remains flooded with inventory.
Redmond’s average home sales price peaked in 2006 at $285,134, and it has fallen to 66 percent of that. Some homes in Fieldstone have fallen to about 50 percent of their 2006 price.
One 1,559-square-foot home, for example, is listed by Focus Realty for $125,000. The three-bedroom home is full of amenities, including a fireplace and walk-in closet. In 2006, the same home sold for more than $230,000, according to county property records.
To see Patrick Cliff’s report in the Bend Bulletin, click here.
