Bend Home Sales Down

We have been following the data and our transitional Bend real estate market is definitely showing downward trends in many categories.  The rapid rise in prices and demand we saw during the covid pandemic were unsustainable and now we are seeing adjustments in home sales, days on market and home prices. The shock of higher mortgage interest rates is mostly over and home buyers are back in the market. And sellers are more realistic with home prices and willing to negotiate terms.

When Bend single family home sales on less than an acre are compared year over year, the following changes can be seen:

• Average sales price down 7.7% to $801,839*
• Median sales price down 12.3% to $680,000
• Average list price up 5.5% to $970,512
• Median list price up 4.7% to $784,950 
• New listings down 27% to 195
• Homes for sale up 21.9% to 217
• Pending sales down 26.5% to 161
• Sold homes down 38.8% to 126
• Average days on market up 212.5% to 50
• Months of supply up 66.7% to 1.5
• Average price per square foot down 9% to $384
• Average percentage of list price to sales price down 4.2% to 99%
• Dollar volume of closed sales down 43.5% to $101,031,669

Bend Home Sales Still Not at Pre-Pandemic Levels

Although we have more homes available for purchase than we had a year ago, we are still in a strong seller's market. With less than 2 months of supply, list prices are still higher than they were a year ago, although the multiple offers we experienced which drove home prices upward are greatly reduced and closed home prices are down. We still need new listings and many home sellers are reluctant to put their homes on the market, especially those with low interest rates. Your Bend Premier Real Estate broker can help you find out what your home is worth in today's market.