Boosted by increased sales of homes priced at $1,425,000 and higher, the median sales price in Bend rose 12% in October, from $715,000 in September to $797,450 last month. Compared to a year ago, the median sales price of a home in Bend is up 9%, and just below the all-time high of $799,950 in July 2023.
Sales of luxury homes in Bend priced at $1,425,000 and above more than doubled last month compared to August and September. In October, 31 homes in that price range sold, compared to 15 and 14 homes in the two months prior.
Real estate activity in Bend again slowed down month-to-month this fall. Active listings were down 2%, new listings were down 9%, home sales were down 2% and pending sales down 9%. Even so, comparing this October’s metrics with those from October 2023 show an increase of real estate activity year-over-year in Bend:
- 47% more active listings
- 10% more new listings
- 15% increase in home sales
- 36% increase in pending sales
- 26% more months of inventory
However, it is taking longer to sell a home in Bend this fall than it did last year. On average, homes were on the market for 66 days in October, up from 54 in September of this year, and an increase from only 32 days in October 2023.
If you’re curious about how the market trends can help you achieve your real estate goals and determine the market value of your home, we’re here to help answer your questions.
—Jason
Median Sales Price
- The median sales price was $797,450 in October, up 12% from $715,000 in September.
- Year-over-year, the median sales price of a home in Bend is up 9% when compared to $734,000 in October 2023.
New Listings
- There were 9% fewer new listings in Bend last month, from 173 in September to 158 in October.
- Compared to October 2023, when there were 144 homes introduced to the market, new listings were up 9% last month.
Home Sold and Pending Sales
- Home sales were down 2% last month, from 149 Bend homes sold in September to 146 in October.
- Pending sales were down 9%, from 181 in September to 164 in October.
- Year-over-year, home sales were up 15% and pending sales were up 36%.
Active Listings and Months of Inventory
- Active listings of homes in Bend are down 2%, from 511 in September to 501 in October.
- Compared to October 2023, when there were 341 Bend homes on the market, active listings are up 47%.
- The months of inventory was flat month-to-month at 3.4-months’ worth in October.
- In October 2023, there was 2.7-months’ worth of inventory.
Days on Market and Price Reductions
- Bend homes sold in an average of 66 days last month, an increase from 54 days in September.
- A year ago, it took an average of 32 days to sell a home in Bend.
- Over the last six weeks, there were an average of 51 price reductions each week.
- In the six weeks prior, there were an average of 53 price reductions each week.
