Caldera Springs · Overview
Inside Caldera Springs
Caldera Springs is a private residential resort community adjacent to Sunriver Resort, 15 miles south of Bend. The community launched in 2006 on 400 acres and expanded eastward in 2021, bringing the master plan to 1,000 acres. The original build-out included 320 single-family homesites and 45 cabins; the expansion adds a 220-acre Wildlife Forest Preserve permanently protected from development.
The community centers on 14.7 acres of lakes and streams, including Obsidian Lake and Trailmere Lake, where owners and resort guests paddle, kayak, and fly fish. Thirteen miles of paved and soft trails wind through forested terrain, and the par-27 Caldera Links course, designed by Bob Cupp, is available to owners and Sunriver Resort guests. A master-plan investment announced in 2024 funded Forest House, Forest Park, and a reimagined Lake House.
Caldera Springs operates in connection with Sunriver Resort and is managed by CoralTree Hospitality. Homes include custom single-family residences, Caldera Cabins, and Forestbrook vacation homes with attached studio units. The Forestbrook enclave began delivering homes in 2024, with pricing starting at $1.29 million; expansion-area homesites have been priced from the low $400,000s.
Drive times
2minSunriver ResortDirectly adjacent
15minBend / Old Mill DistrictSunriver is 15 miles south of Bend via US-97
20minMt. BachelorVia Century Drive and Cascade Lakes Highway
42minRedmond Airport (RDM)34 miles via US-97 north through Bend
Subdivisions in Caldera Springs
Caldera Springs · Lifestyle
Amenities
DiningLake House
Waterfront restaurant on Obsidian Lake with indoor-outdoor dining and Mt. Bachelor views, plus the adjacent Shore Shack walkup bar with fire-pit seating.
PublicRecreationForest House
Recreation center with multiple heated outdoor pools, one of Oregon's longest dual-racer water slides, a lazy river, a kids' pool, a 1,748-square-foot fitness center, a game room, and poolside dining.
Owners and Sunriver Resort vacation-home guests onlyRecreationThe Quarry
Infinity-edge pool overlooking Obsidian Lake, outdoor year-round spas, and a fitness center with stocked locker rooms.
Owners and resort guestsRecreationForest Park
Four-season park with six pickleball courts, a dog park, a children's play area, and a winter sledding hill.
Owners and resort guestsRecreationCaldera Links Golf Course
A 9-hole, par-27 course designed by Bob Cupp, with holes from 60 to 185 yards plus putting and chipping greens.
Owners and Sunriver Resort guestsRecreationLakes and Trails
14.7 acres of lakes and streams with paddleboard, kayak, and canoe rentals through The Outpost, connected by 13 miles of paved and soft trails.
Owners and resort guestsWellnessSpa at Sunriver Resort
Full-service spa at the adjacent Sunriver Resort, with complimentary fitness-center access for Caldera Springs owners and guests.
Owners and resort guestsOtherWildlife Forest Preserve
A 220-acre permanently protected open space supporting habitat for river otters and bald eagles observed on the community's waterways.
Community open spaceCentral Oregon · MLS DeskLive · MLS--:--:--
Caldera Springs · The marketThe market,
The market,
on record
$1,288,000
6Active homes
—Closed · 30 days
—New · 30 days
93.6%Sale to list
—Median to pending
—Months of supply
▸ Median sale · single-family · Sunriver (city) · 5-year overlay ↓ 13.8% over the window$715,000
| Month | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Jan | $892K | $930K | $939K | $928K | $1.2M |
| Feb | $879K | $850K | $923K | $841K | $860K |
| Mar | $950K | $933K | $705K | $880K | $740K |
| Apr | $1.1M | $839K | $1.0M | $810K | $865K |
| May | $863K | $888K | $892K | $899K | $745K |
| Jun | $1.1M | $957K | $1.1M | $830K | $715K |
| Jul | $975K | $980K | $813K | $1.1M | — |
| Aug | $920K | $967K | $1.0M | $799K | — |
| Sep | $950K | $925K | $774K | $946K | — |
| Oct | $828K | $1.0M | $785K | $830K | — |
| Nov | $819K | $875K | $1.6M | $723K | — |
| Dec | $870K | $1.3M | $1.2M | $1.4M | — |
Live single-family figures from the regional MLS. Months of supply is active inventory divided by the homes closed in the last 6 months, then divided by 6. Four months or less is a seller’s market, four to six is balanced, six or more is a buyer’s market.
Caldera Springs · For saleFeatured
Featured
homes
▶ Tour$183,000
56856 EnterprisePowder Village Condo · Sunriver
0 bd1 ba448 sf
$370,000
56858 EnterprisePowder Village Condo · Sunriver
2 bd2 ba940 sf
$294,000
56856 EnterprisePowder Village Condo · Sunriver
1 bd1 ba703 sf
$195,000
56856 EnterprisePowder Village Condo · Sunriver
0 bd1 ba392 sf
$185,000
56856 EnterprisePowder Village Condo · Sunriver
0 bd1 ba448 sf
$175,000
56856 EnterprisePowder Village Condo · Sunriver
0 bd1 ba392 sf
Caldera SpringsHomes in
Homes in
Caldera Springs
Every active single-family listing in Caldera Springs, on the real terrain. Click any dot for the price, the beds, and the street.
Live · MLS0 active listings
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A short tour of Caldera Springs, Central Oregon.
Sunriver · This week
Open houses
Guides and insights
Caldera Springs real estate, explained
Local housing news, market data, and buyer and seller guides for Caldera Springs and Sunriver.
Dec 10, 2025Sunriver Year Round Living vs Vacation Home
Sunriver works as both a full-time home and a vacation property, but those two lifestyles look very different in practice. Here is an honest comparison of costs, trade-offs, and daily life.
Read the guide →
Jun 10, 2026Bend Oregon Market Report: June 2026
Bend closed May at a $797,000 median, up 3.6% year over year, while sales slowed and inventory held flat. The full June 2026 market report.
Read the guide →
Apr 1, 2026Bend Considers Wildfire-Resistant Building Standards Cost vs Safety
Bend City Council meets today to consider adopting the same wildfire-resistant building codes already in effect in Deschutes County and Sisters. Here is the honest cost-versus-safety analysis.
Read the guide →In their words
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Sell with usWhat’s your
What’s your
home worth?
A real number, not a guess. Built from what your street actually trades for, the days on market on your block, and the comps that closed this quarter.
$1,288,000
Regional median
Common questions
Caldera Springs real estate questions
What is the median home price in Caldera Springs?
The median list price for a single-family home in Caldera Springs is $1,288,000 as of June 2026, based on live MLS data.