Activity in the Bend real estate market continues to pick up momentum with an increase of new listings, available inventory and home sales. New listings were up 57% between February and March, with 198 homes in Bend newly listed last month.
Sales were up 12% last month, from 112 completed transactions in February to 125 in March. Pending sales were up again, too, from 164 in February to 174 last month, a 6% increase. The available inventory was up 6% in March, with 222 active listings in Bend last month.
The median sales price of a Bend home was up 3% month-to-month, from $659,450 in February to $680,000 in March. Price reductions continue to be relatively low, with the asking price lowered on an average of 15 homes each week.
Homes in Bend are selling a little more quickly, too, based on our monthly data. Once a home is listed, it’s taking an average of 47 days to sell—10 days quicker than in February.
Scroll down to see more details on the newest market trends for Bend, including year-over-year data. Want more data-driven guidance on listing your home in Bend? Our team is ready to help. Contact us here.
Median Home Price
- The median sales price of a home in Bend is $680,000, up 3% from $659,450 in February.
- Last March, the median home price in Bend was $770,000.
- There were 198 new listings of Bend homes in March, a 57% increase over February when 126 homes were newly listed.
- There were 26% fewer listings last month compared to February 2022.
Home Sold and Pending Sales
- Home sales in Bend were up 12% last month, from 112 in February to 125 in March.
- Pending sales were up 6% in March, from 164 in February to 174 last month.
- Year-over-year, sales activity is down; there were 244 pending sales and 209 home sales in March 2022.
Active Listings and Months of Inventory
- Active listings of homes in Bend were up 6% in March, from 209 in February to 222 last month.
- Last March, there were 75% fewer active listings (127).
- The months of inventory measurement is down 5%, from 1.9 months’ worth in February to 1.8 in March.
- There was only 0.6 months’ worth of inventory in March 2022.
Days on Market and Price Reductions
- On average, it’s taking 47 days to sell a home in Bend, a little bit quicker than the average of 57 days in February.
- Nationally, homes spend about 54 days on the market before selling.
- Last February, homes were selling in an average of only 20 days.
- There are an average of 15 price reductions weekly based on our data from the last six weeks.