Many of the metrics that we track weekly and monthly on the Bend real estate market are showing increases month-to-month typical of the early summer season.
There was a 38% surge of new listings of Bend homes in May, up from 167 in April to 231 last month. Pending sales were up 2% and home sales were up 25%. The available inventory was up 31% with 291 active listings in May.
The median home price in Bend rose also, from $669,100 in April to $747,500 in May, a 12% increase month-to-month. Compared to May 2022, the median sales price is up 1%.
Homes in Bend sold a little more quickly in May than they did in April, with an average of 40 days on the market. In May 2022, homes were selling, on average, in only 28 days. There are an average of 26 price reductions on listings in Bend each week according to our data over the last six weeks.
If you are thinking about listing your home this summer, we are here to help you make data-driven decisions on when to list, how to price your property and what to expect throughout the process.
Median Home Price
- The median home price in Bend is $747,500, a 12% increase from $669,100 in April.
- Last May, the median sales price of a home in Bend was $740,000.
- There were 231 new listings in Bend last month, an increase of 38% over April.
- In May 2022, there were 245 new listings.
Home Sold and Pending Sales
- Pending sales were up 2% last month and home sales were up 25% compared to April.
- Year-over-year, pending sales were down 24% and home sales were down 26% compared to May 2022.
- There were 161 homes sold last month and 185 homes went pending.
Active Listings and Months of Inventory
- Active listings were up 31% in May, from 222 in April to 291 in May.
- In May 2022, there were 269 active listings.
- The months of inventory was up 6% month-to-month, from 1.7 in April to 1.8 months’ worth in May.
- Compared to May 2022, the months of inventory is up 50%.
Days on Market and Price Reductions
- It takes an average of 40 days to sell a home in Bend, a little quicker than the 45 days in April.
- Last May, it too only an average of 28 days to sell a Bend home.
- There were an average of 26 price reductions each week over the last six weeks.