After a spike in October, the median sales price of a home in Bend fell 10% in November to $713,750. The month before, the median sales price was $797,450, just below the all-time high of $799,950 in July 2023. The current median sales price is within 1% of November 2023’s price of $710,000.
As it normally does this time of year, residential real estate activity in Bend continued to slow down in November. Month-to-month, active listings were down 6%, new listings were down 24%, home sales were down 16% and pending sales down 33%. However, compared to November 2023, most of the metrics we track on the local real estate market are up year-over-year:
- 52% more active listings
- 41% more new listings
- 15% increase in home sales
- 17% increase in pending sales
- 31% more months of inventory
However, it’s taking longer to sell a home in Bend this fall than it did last year. On average, homes were on the market for 75 days before selling in November, longer than the average of 66 days reported in October of this year, and an increase from 50 days in November 2023.
As you consider your real estate goals for 2025, please reach out to us with your questions. Our team combines an intrinsic knowledge of the Central Oregon real estate market with data trended over 18 years to help our buyers and sellers make well-informed, data-driven decisions.
—Jason
Median Sales Price
- The median sales price of a home in Bend was $713,750 in November, down 10% from $797,450 in October.
- October’s median sales price was the second-highest ever, just below the all-time high of $799,950 in July 2023.
- Last month’s median sales price was within 1% of $710,000 in November 2023.
New Listings
- There were 24% fewer new listings in Bend last month, from 158 in October to 120 in November.
- New listings were up 52% last month compared to November 2023 when there were 85 homes new to the market.
Home Sold and Pending Sales
- Home sales were down 16% in November, from 146 Bend homes sold in October to 123 last month.
- Pending sales were down 33%, from 164 sales in October to 110 in November.
- Year-over-year, home sales were up 17% and pending sales were up 15%.
Active Listings and Months of Inventory
- Active listings of homes in Bend are down 6%, from 501 in October to 469 in November.
- Compared to November 2023, when there were 309 Bend homes on the market, active listings are up 52%.
- The months of inventory was up 2% month-to-month, from 3.4 months’ worth in October to 3.8 months in November.
- In November 2023, there was 2.9-months’ worth of inventory.
Days on Market and Price Reductions
- It’s taking an average of 75 days to sell a home in Bend, up from 66 days reported in October.
- Year-over-year, it’s taking 50% longer to sell a home, up from an average of 50 days in November 2023.
- There were an average of 35 price reductions each week over the last three weeks.
