As the weather warms up this spring, the Bend real estate market is warming up, too. New listings of homes in Bend rose 30% last month, up from 170 in February to 221 in March. This increase is consistent with last year, when new listings were up 30% between February and March 2024.
The influx of new listings has helped boost the number of active listings, even with home sales and pending sales picking up last month. Active listings were up 16% in March, from 392 in February to 455 last month.
Sales of homes in Bend were up 29% in March, and pending sales were up 20%. There were 124 homes sold, and another 158 homes went pending last month. On average, it took 53 days to sell a Bend home in March.
The median sales price in Bend was up 6%, from $700,000 in February to $740,000 in March. Year-over-year, the median sales price of a home in Bend is down 3% when compared to $760,000 in March 2024. Over the last six weeks, there was an average of 42 price reductions each week.
Pricing strategy is always important, but in this economic climate, it can be crucial to selling your home within your timeline. If you’re curious about the value of your Central Oregon home, our team is ready to help you understand how the market trends inform data-driven real estate decisions. Please contact us to start a conversation, and Happy Spring!
—Jason
Median Sales Price
- The median sales price of a home in Bend rose 6% last month, from $700,000 in February to $740,000 in March.
- Year-over-year, the median sales price is down 3%; it was $760,000 in March 2024.
New Listings
- There were 30% more new listings in Bend last month, up from 170 homes in February to 221 in March.
- In March 2024, there were 192 new listings, 30% less than this March.
Homes Sold and Pending Sales
- Home sales were up 29% in March, from 96 sales in February to 124 last month.
- Year-over-year, home sales in Bend are up 9% when compared to 114 transactions in March 2024.
- Pending sales were up 20%, from 132 in February to 158 in March.
- Annually, pending sales were up 5%.
Active Listings and Months of Inventory
- There were 16% more active listings in Bend last month, up from 392 homes on the market in February to 455 in March.
- Year-over-year, active listings are up 67% when compared to 273 homes on the market in March 2024.
- The months of inventory decreased by 10% last month, from 4.1 months’ worth in February to 3.7 months’ worth in March.
- In March 2024, there was 2.4 months’ worth of inventory in Bend.
Days on Market and Price Reductions
- On average, it took 53 days to sell a Bend home in March, shorter than 62 days in February.
- In March 2024, it took an average of 68 days to sell a home in Bend.
- Over the last six weeks, there was an average of 42 price reductions on Bend homes each week.
- During the prior six-week period, there were an average of 29 price reductions each week.
