Last Updated October 3, 2023
The current state of Bend’s market would have been difficult to predict just a short while ago. Prices heated up in the summer, approaching a median of $800,000 in spite of mortgage rates climbing higher than 8%. We’re back in the $750k range now, but the summer’s price action showed that plenty of buyers still have an appetite for Bend properties, as long as the home is right.
With inventory above 3 months, there’s a lot more homes to choose from now, and properties with less desirable features are sometimes languishing on the market with significant price reductions. In September, homes spend a median of 20 days on the market and sold for an average of 95.5% of their original list price, meaning that sellers are starting to make more concessions.
List prices were signicficantly less aggressive in September than what we saw over the summer, falling to a median of about $750,000. Meanwhile, active inventory sits at a median of $890,000, an all-time high, meaning Bend’s higher-end inventory is sitting on the market longer than it’s lower-end inventory. Even more high-end homes could accumulate as the weather shifts, so that’s a number to watch out for in the months ahead.
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