After a seasonal slowdown over the holidays, the Bend real estate market showed signs of picking back up in January. There was a 132% jump of new listings in last month, from 47 in December to 109 in January.
Pending sales were up 62% last month, with 123 homes going into pending status in January. Home sales have been a little slower to pick up, from 98 sales in December to 84 last month, but it’s not uncommon for transactions to take longer during the holidays.
The median sales price of a home in Bend was up 1%, from $677,500 in December to $684,950 in January. The median sales price was $686,000 in January 2022, so relatively flat year-to-year.
We just released our annual study for the Bend residential real estate market, which is a comprehensive report of market trends spanning the last decade. We use our weekly, monthly and annual research analysis to help us make data-driven decisions for our clients, and we’re here to answer your questions about buying or selling a home in Bend this year. We look forward to connecting with you!
—Jason
Median Home Price
- The median sales price was up 1% last month, from $677,500 in December to $684,950 in January.
- Compared to January 2022, when it was $686,000, the median sales price was flat last month.
Active Listings and Months of Inventory
- Active listings were down 19% in January, from 271 in December to 220 last month.
- However, compared to January 2022, active listings were up 100%.
- The months of inventory metric was up 7%, from 2.8 months’ worth in December to 3 months in January.
- There was only 0.8 months’ worth of inventory in January 2022.
- The months of inventory metric is the highest it’s been since May 2020.
New Listings
- New listings jumped up in January, from 47 in December to 109 last month.
- In January 2022, there were 147 new listings.
- Our weekly data shows a steady stream of new listings over the last four weeks, with an average of 30 homes listed each week.
Home Sold and Pending Sales
- Home sales were down 14% in January, but pending sales were up 62%.
- There were 84 sales in January, down from 98 in December.
- As for pending sales, 123 homes went to pending status in January, up from 76 in December.
- In January 2022, 177 homes went pending and 131 homes sold.
Days on Market and Price Reductions
- On average, it’s taking 55 days to sell a home in Bend, longer than the average of 42 days in December.
- Over the last six weeks, there have been an average of 23 price reductions each week.
