CHERYL HEITZHAUSEN | CENTRAL OREGON 2021 ANNUAL MARKET REPORT

CENTRAL OREGON 2021 Annual MARKET REP ORT

Helping people buy and sell homes in the Pacific Northwest since 1972, Coldwell Banker Bain is an undisputed market leader, posting nearly $6 billion in sales in 2020. With 34 offices and more than 1,300 brokers in Washington and Oregon, plus a global reach that extends to 92,000 brokers in 43 countries, we’re not only one of the largest Coldwell Banker affiliates in the world, we’re also the most accomplished real estate company in the Northwest.

Our commitment to knowledge, expertise and market insights consistently undergirds our reputation for excellence and service. An emphasis on global access in the luxury realm, combined with the power, reach and recognition of the Coldwell Banker brand, allows us to outsell and outperform our rivals, as we elevate the standard for marketing premier properties in the Puget Sound are and the Pacific Northwest.

As important to us as business success— we also provide services in property management, commercial real estate, real estate investment and relocation management— is the understanding that real estate is more than just a transaction; it’s a key part of building safe, happy and prosperous lives for our clients, our brokers and their families.

MIKE GRADY President & Chief Executive Officer of Coldwell Banker Bain “It’s been 20 months since this hyper-market started and, from a numbers perspective, no one predicted anything like what we experienced in 2021. We ended up increasing listings by 10%, closings by 8.5%, average sales price by 21.1% and ended the year surpassing $8 Billion in total closed volume.

Looking ahead at 2022, the economic news continues to be positive: interest rates, net new job formations, migration patterns all good for the Pacific Northwest. The attitudes and moods of our business leaders is positive and upbeat.

There are some concerns for 2022. The media recent focus on recent “inflationary” trends, the announced easing of mortgage-backed securities being purchased by the Federal Reserve’s lead one to be aware that home mortgage interest rates are very low today and might slightly increase in 2022. And we’re slightly concerned about a report from NAR that the percentage of first-time home buyers was below 30% in November.

But we believe the positive economic news is significantly stronger and we remain bullish on 2022 and early 2023. Yes, inventory will be a continuing challenge and yes, home prices will continue to increase as the competition for inventory continues - but neither as concerning as 2021.”

2021 Q3 OREGON MARKET REPORT

3

2021 ANNUAL MARKET REPORT

BRIAN HOUSTON PRINCIPAL MANAGING BROKER OF BEND & Sisters “Home sales in Central Oregon remained strong rounding out 2021 vs. 2020. Closed sales for single family residences in Bend dropped slightly at -2.7% compared to 2020 while properties greater than one acre rose 6.7% and properties greater than $1 million rose 69.8%. Home sales in Sisters for single family rose 1.2% compared to 2020, while luxury homes greater than $1M rose 91.7%. The median sales price in Central Oregon showed significant increases 2021 vs. 2020. Median sales price for single family residences in Bend increased 27.3% compared to 2020 while properties greater than one acre the median sales price rose 24.5% and properties greater than $1M dropped -1.9%. Median sales prices in Sisters for single family rose 28.5% compared to 2020 while the median sales price for luxury homes greater than $1M dropped slightly at -0.1%.”

4 2021 Q3 OREGON AREA MARKET REPORT

central oregon area

SINGLE FAMILY (SF), ACRE +1 & LUXURY

BEND | SISTERS

MEDIAN SOLD PRICE

AVERAGE DOM

20

$679K

Bend Area (SF) Bend Area Acre +1

35

$967K

Bend Area Luxury ($1M+ SF)

32

$1.312M

20

$596K

Sisters Area (SF) Sisters Area Acre +1

29

$724K

Sisters Area Luxury ($1M+ SF)

$1.49M $300K

$600K

$900K

$1.2M

90

$1.5M

NUMBER OF SALES CLOSED

3500 3000 2500 2000

3090

1500

443

1000

673 236

500

75

46

Sisters Area

Sisters Area 1 Acre +

Sisters Area Luxury ($1M+, SF)

0

Bend Area

Bend Area 1 Acre +

Bend Area Luxury ($1M+, SF)

INVENTORY IN UNITS / 12.31.21

159

39

71

6

2

8

-65.1%

+30.8%

+18.3%

-60.0%

-50.0%

+0.0%

Bend Area

Bend Area 1 Acre +

Bend Area Luxury ($1M+, SF)

Sisters Area

Sisters Area 1 Acre +

Sisters Area Luxury ($1M+, SF)

2021 Q3 OREGON MARKET REPORT

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bend area BEND AREA

2021

2020

CHANGE

TOTAL HOMES SOLD

3,090

3,175

-2.7%

MEDIAN SOLD PRICE

$679K

$523K

+29.7%

20

53

-62.3%

100%

97%

+3.1%

2021

2020

CHANGE

TOTAL HOMES SOLD

443

415

+6.7%

MEDIAN SOLD PRICE

$967K

$777K

+24.5%

35

94

-62.8%

96%

93%

+3.2%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$679K

MEDIAN SOLD PRICE UP +29.7% from 2020

BEND AREA 1 ACRE+

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

6 2021 ANNUAL OREGON AREA MARKET REPORT

$967K

MEDIAN SOLD PRICE UP +24.5% from 2020

BEND AREA LUXURY

2021

2020

CHANGE

TOTAL HOMES SOLD

673

396

+69.9%

MEDIAN SOLD PRICE

$1.312M

$1.386M

-5.3%

32

97

-67.0%

98%

94%

+4.3%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$1.31M

MEDIAN SOLD PRICE UP 0.7% from 2020

2021 ANNUAL OREGON AREA MARKET REPORT

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sister area SISTERS SINGLE FAMILY

2021

2020

CHANGE

TOTAL HOMES SOLD

236

245

-3.7%

MEDIAN SOLD PRICE

$596K

$496K

+20.1%

20

63

-68.3%

100%

97%

+3.1%

2021

2020

CHANGE

TOTAL HOMES SOLD

75

91

-17.6%

MEDIAN SOLD PRICE

$724K

$677K

+6.9%

29

78

-62.8%

100%

98%

+2.0%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$596K

MEDIAN SOLD PRICE UP +20.1% from 2020

SISTERS ACRE +1

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

8 2021 ANNUAL OREGON AREA MARKET REPORT

$724K

MEDIAN SOLD PRICE UP +6.9% from 2020

SISTERS LUXURY

2021

2020

CHANGE

TOTAL HOMES SOLD

46

24

+91.7%

MEDIAN SOLD PRICE

$1.497M

$1.34M

+11.8%

90

143

-37.1%

98%

95%

+3.2%

AVERAGE DAYS ON MARKET SOLD/LIST PRICE%

$1.49M MEDIAN SOLD PRICE UP +11.8% from 2020

2021 ANNUAL OREGON AREA MARKET REPORT

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CHERYL HEITZHAUSEN assistant managing broker licensed in oregon Coldwell Banker Bain | sisters 291 W. cascade avenue | sisters, or 97759 Cell: (541) 420.7875 Office: (541) 549-6000 cherylheitzhausen@cbbain.com cherylheitzhausen.cbbain.com

*Information and statistics derived by CB Bain from the Northwest Multiple Listing Service (NWMLS), Regional Multiple Listing Service (RMLS) and the Multiple Listing Service of Central Oregon (MLSCO) each quarter. Statistics not compiled or published by the NWMLS, RMLS or MLSCO.