Even as sales activity slows in Bend this fall, the inventory of homes for sale continues to be much higher than a year ago.
There were 419 active home listings in September, down 4% from August, but up 44% from last September when there were 291 active listings. New listings were up 3% last month, from 181 in August to 186 in September.
It’s taking longer to sell a home in Bend. Last September, homes were selling in an average of 17 days. Last month, it took an average of 38 days to sell a home in Bend.
The median sales price in September was within 1% of August, from $717,000 to $724,900 last month. Year-over-year, the median price of a Bend home is up 12%, from $650,000 last September.
Are you curious about what your home is worth? Using data is the best way to ensure that your home is priced appropriately for the current market conditions to help you sell it on your timeline. Our team is ready to help you develop a pricing strategy for listing your home in Bend.
Median Home Price
- The median price of a home in Bend is $724,900, just 1% higher than in August when it was $717,000.
- Annually, the median sales price is up 12%, from $650,000 in August 2021.
Active Listings and Months of Inventory
- Active listings of homes for sale in Bend are down 4%, from 437 in August to 419 last month.
- Compared to September 2021, active listings are up 44% (from 291 last year).
- The months of inventory is steady at 2.3 months’ worth in September.
- Last September, there was 1.2 months’ worth of inventory.
New Listings
- There were 186 new listings in September, up 3% from August when there were 181 new listings.
- New listings in September were down 22% compared to a year ago when there were 237 Bend homes listed for sale.
Home Sold and Pending Sales
- Home sales in Bend were down 3% last month, from 188 in August to 182 last month.
- Year-over-year, the number of homes sold in Bend was down 23% last month compared to September 2021 when there were 235 home sales.
- Pending sales were down 25%, from 218 in August to 163 in September.
- Annually, pending sales are down 30%.
Days on Market and Price Reductions
- It took an average of 38 days for a Bend home to sell last month, 52% longer than in August when it took an average of 25 days.
- Last September, homes in Bend were selling in an average of 17 days.
- There are an average of 60 price reductions each week (based on data from the last six weeks).
As always, we are here to answer your questions about the market trends for Bend.
—Jason
