Representing many hours of in-depth research analysis, we are proud to announce that our 2024 Annual Market Study has just been published. This comprehensive report includes data spanning 11 years on the Bend real estate market, including statistics for single-family homes, homes on acreage, condominiums and townhomes, residential lots, lots on acreage and multi-family homes.
We have published this study every year since 2006 to provide our clients with a big-picture, historical context for Bend’s unique and dynamic real estate market. In addition to snapshots that track important metrics year-by-year over 11 years, there are three-year reviews that illustrate month-by-month trends since 2021.
Find a few highlights from our 2024 report below. We look forward to hearing your feedback and answering any questions you might have about this study and how current market trends might inform your real estate decisions moving forward. We are here to help!
—Jason
Median Sales Price of Single-Family Homes
- The median sales price of a Bend home was $724,118 in 2023, down -0.79% from 2022.
- Since 2013, when it was $269,000, the median sales price is up 169%, and in the last three years, up 12%.
Single-Family Home Sales
- At 1,592 sales in 2023, home sales in Bend were down 23% from 2022.
- Home sales have declined from 37% over the last three years, from 2,526 sales in 2021 to 1,592 last year.
Active Listings of Single-Family Homes
- The monthly average of active listings in 2023 was 289, the exact same average as 2022.
- Over the last ten years, the monthly average of active listings has trended 48% downward; in 2014, there was a monthly average of 556 active listings.
- By far, the lowest monthly average of active listings was in 2021, when it was 166.
- Since then, the monthly average of active listings has risen 74%.
New Listings of Single-Family Homes
- On average, there were 153 new listings each month in 2023, 24% fewer than in 2022.
- The year with the highest monthly average of new listings was 2017, when there was an average of 246 each month.
Days On Market for Single-Family Homes
- The monthly average for the length of time to sale a home was 36 days in 2023, up 33% from 2022.
- The all-time low monthly average was in 2021, when it was just 18 days.
- Since 2015, the monthly average of days on market is down 72%.
Residential Lots
- The monthly average of lots for sale was 99 in 2023, up from an average of 86 in 2022.
- Over ten years, the monthly average of lots for sale is down 48%, and down 52% from 2016, when there was an average of 206 available lots each month.
- In 2023, there were 89 total sales of lots over the course of the year, down 25% from 2022.
- There were 261 total sales of lots in 2013, 66% more than last year.
- As the number of sales has trended downward, the median sales price of residential lots has trended upward.
- The median sales price of a lot in Bend was at an all-time high of $392,000 in 2023, up 15% from 2022 and up from $140,000 in 2013.
*In 2020, the MLS of Central Oregon changed database/software providers, which reduced the measurable span of some of our metrics
**A bare land, residential lot is sited on less than one acre
