Bend, Oregon Real Estate Market Reports

First, the good news: inventory is up significantly in Bend after plunging to record lows during the late winter. New listings are up 35% month-over-month and 12% year-over-year, while buyer activity is lagging behind last year’s. The bad news: although sale prices have dropped 2% month-over-month, they’re still really, really high. Some relief may be in sight, however. March’s pending sales had a median list price of just $680,000. Granted, homes have been selling for well above list price in Bend, but that should give us a basic sense of what sale prices should look like in April. We could…

Hitting record sale prices during the winter is unheard of in Bend, but that’s exactly what happened in February. The median sale price jumped up all the way to $787,500, an astonishing 14% month-over-month and 33% year-over-year increase. In 2021, exceptionally low inventory in the winter set the stage for prices to increase even further in the spring. Well, inventory is even lower this year, but it remains to be seen whether prices will ramp up from here. February’s pending sales were listed at a median of $750,000, so March’s median sale price will be lower. List prices are on…

Here we go again: Bend’s inventory is back at record lows as we open the New Year, dropping 25% month-over-month to just 0.6 months in January. Meanwhile, prices tied the record highs that we saw in November, reaching a median of $690,000. That’s all in spite of the signals we saw in December that buyer activity might be cooling down. Homes were spending longer on the market, going pending in a median of 18 days. In January, though, that figure was down to 11 days. List prices fell back to a median of $690,00, with a number of new listings…