Happy October! We hope you are enjoying this beautiful fall weather and the fun activities that make living in Central Oregon a uniquely wonderful experience.
After a busy summer, real estate activity in Bend has slowed somewhat. There were 16% fewer new listings in September, and 14% fewer pending sales and 15% fewer home sales. Even so, active listings were down only 3% and the months of inventory rose 14% to 2.5 months’ worth.
The median sales price of a home in Bend was up 2% last month, from $738,389 in August to $750,000 in September. The median price is up 3% compared with August 2022 when it was $724,900. Based on our weekly data, there are an average of 37 price reductions each week.
Bend homes continue to sell briskly, with an average of 15 days on the market before an offer is accepted.
Although the local real estate market might be a little less active this fall than it was this summer, we are working with sellers on strategies for listing their homes and with buyers to find the right home. We’re here to help you, too. Contact us with your questions about how to price your home, when to list it and how to submit a competitive offer.
—Jason
Median Sales Price
- The median price of a home in Bend is $750,000, up 2% from September, when it was $738,389.
- Compared with September 2022, the median home price is up 3%.
New Listings
- There were 130 new listings in September, 16% fewer than in August when there were 155.
- New listings in Bend are down 30% compared to September 2022.
Home Sold and Pending Sales
- Home sales in Bend were down 15% month-to-month, from 162 in August to 137 in September.
- Year-over-year, home sales were down 25% when compared to September 2022.
- Pending sales were down 15% in September, from 146 in August to 125 last month.
- Compared to September 2022, pending sales were down 23%.
Active Listings and Months of Inventory
- There were 343 active listings of homes for sale in Bend last month, down 3% from August and down 18% from September of last year.
- There is 2.5 months’ worth of inventory in Bend, up 14% from August 2023 and up 9% from September 2022.
Days on Market and Price Reductions
- It is taking an average of 15 days to sell a home in Bend, just a little quicker than the 18-day average in August.
- In September 2022, homes were selling in average of 38 days.
- There was an average of 37 price reductions each week based on our data over the last 6 weeks.
