While buyer activity in Bend has continued to slide downward, November’s numbers show that – for the time being – the market here has reached a kind of equilibrium.
Inventory, however, remains flat month-over-month. That’s because new listings are down almost as much as pending sales. Would-be sellers have little incentive to put their homes on the market, especially if they bought when mortgage rates were much lower.
Sellers got slightly more aggressive in November, with list prices increasing to a median of $720,000, up 3% month-over-month. That corresponds with a slight decrease in inventory. There are plenty of buyers still looking in Bend who are willing to pay a premium – for the right property.
