April 2023 Bend Oregon real estate market infographic

April 2023 Bend Real Estate Market Report

Last Updated May 4, 2023

Sale prices in Bend are continuing to zigzag, with April’s sales hitting a median of $669,000, down 3% month-over-month. One thing to note is that we’re dealing with a pretty small sample size – only 173 sales, down 39% year-over-year. It’s hard to extrapolate a trend from these kinds of numbers, but if we zoom out a bit, sale prices have basically been flat over the past few months.

We had predicted a surge of activity in the spring months, and so far it hasn’t materialized in Bend. In particular, new listings were actually down 13% month-over-month. Homes are selling faster, however. We’re back down to a median of 11 days, and that’s a good sign for sellers.

However, we’re seeing buyers hesitate more at the upper end of Bend’s market. Now that the weather’s turning, more higher-end homes are hitting the market, but buyer activity is still concentrated at lower price points. Affordability is very much a concern, and that could keep prices down even as competition ramps up for less expensive properties.

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