It is Taking Longer to Sell Bend Homes

Summer is traditionally the peak selling season for Central Oregon homes. For home buyers looking to buy a Bend home before school starts, July is usually the month when many purchases happen, with August the month for closing these sales and new owners moving into their new homes. While July 2025 has followed these trends to a certain extent, the change in the market with high mortgage interest rates limiting buying power, it has become a price driven market with sellers recognizing that if they really need to sell, the asking price has to match today's market and not that of previous years. July 2025 also saw a mar...

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More Bend Home Inventory and Moderate Price Increases Were the Norm for 2024 Sales

2024 Bend home sales experienced modest price increases for the year, but Bend home buyers were fortunate to have more options. Sellers who had hesitated putting their property on the market during Covid and following when mortgage interest rates were close to 8% finally had more inclination to do so when mortgage rates dropped to the mid 6% range during the summer of 2024. Delayed moves which were offset by high mortgage rates for a subsequent purchase finally made sense when rates dropped. Although there was an increase in home prices and sales for Bend single family homes, it was modest. With more in...

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More Inventory Means More Choices for Bend Home Buyers

There are more homes on the market for potential Bend home buyers to choose from than there were at the same time last year. With more inventory, there has been more motivation for sellers to negotiate price and terms with buyers. This in turn has resulted in homes selling for less than asking price, often after price reductions, in order to generate offers. While the overall sales price is up slightly over the same time last year, the months of supply is up over 11%.

When the data from November 2024 for Bend single family home sales on less than an acre is compared with those from November 2023, the following changes can be seen:

• Average sales price up 4.1% to $888,821
• Median sales price up 2.6% to $711,875

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Bend Home Prices Up and Inventory Levels Down

Despite the trends for January and February 2024 in which prices seemed to stabilize, the sales price of Bend homes rose unexpectedly in March. The year over year figure shows both median and average Bend home prices were up over 12% and inventory levels were down. When coupled with the steep rise in prices, affordability remains a major problem for potential Bend home buyers.

When March 2024 is compared with March 2023 for Bend single family homes on less than an acre, the following trends are noted:

• Average sales price up 12% to $893,967*
• Median sales price up 13.2% to $760,000
• Average list price up 9....

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Bend Home Sales Slow

There is a seasonal slow down experienced every fall for Bend real estate sales. When school starts, many would-be Bend home buyers focus on other things. While retirees and second home buyers may be active in early to mid fall, once Thanksgiving comes, the number of Bend real estate sales drop as both buyers and sellers tend to concentrate on holiday activities with home sales secondary to celebrating the season. In 2023, however, the annual slow down for Bend home sales typically seen in November was exceptional. When November of 2023 is compared with November of 2022, Bend single family home sales on less than an acre reflect the following:

• Average sales price up 3.5% to $859,650*
• Median sales price up 1% to $702,750
• New listings down 26.1% to 82
• Homes for sale down 29.9% to 281
• Pending sales down 18.7% to 87
• Sold homes down 24.1% to 104
• Average days on market up 22% to 50

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