Last Updated December 4, 2023
Bend’s market saw a significant slowdown in November, but sale prices stayed relatively flat, dropping 1% month-over-month to a median of $729,000. Only 118 properties went pending, down 15% year-over-year and a remarkable 54% compared to November 2021.
However, listing activity is down a similar amount. Inventory accumulated in Bend through the summer and now sits at 2.9 months. That may seem high compared to Bend’s post-pandemic boom, but it’s still lower than the pre-pandemic average.
Nonetheless, sellers will have some tough choices to make in terms of whether to wait out the winter or go off the market and get a fresh start next spring. In November, homes spent a median of 35 days on the market, and that number will likely climb further from here.
As I emphasized last month, patience is key, but it’s also important to make a great first impression (or second, or third impression as it may be). Bend sellers are making more and more concessions, with homes selling for a median of 93.4% of their original list price is November, down from 95.6% a month ago. But it’s important to be realistic about your own timeframe for making a sale and the best approach for balancing your desire for a quicker sale and a higher price point.
Further reading
When Will the Housing Market Crash (and Housing Prices Drop) in Oregon?
Eugene Seller’s Agents: How to Know Who’s Best for You
The Ultimate Bend, Oregon Relocation Guide
Eugene Oregon Relocation: The Ultimate Guide
Best Places to Live in Oregon: Bend vs. Eugene
Tips for First-Time Home Buyers in Oregon
Looking to Retire in Bend, Oregon? Here’s What to Consider.
Looking to Retire in Eugene, Oregon? Here’s What to Consider.
Best Neighborhoods in Bend Oregon: Our Definitive List
Best Neighborhoods in Eugene Oregon: Our Definitive List