April 2022 Bend Real Estate Market Report

Last Updated October 18, 2022

April’s numbers show a clear shift starting to take place in Bend’s market. Pending sales are down 11% month-over-month, while new listings are up 13%. As a result, Bend’s inventory shot up from 0.67 months in March 2022 to 1 month at the end of April.

One month of inventory is still very low, and most properties are still going off the market as fast as ever. But March and April’s numbers indicate that Bend’s market is starting to depressurize. Anecdotally, at the end of April, we started to see properties sit on the market longer, and we predict that the shift will be even more visible in May’s numbers.

With that said, Bend’s median sale price stayed flat in April, hovering near record highs at $775,000. The trendline for list prices in Bend is still moving upward.

Bend’s market could very well reach a tipping point in the next couple of months where more properties start to sell for below list price. In April, though homes still went for an average of 2.5% above list.