New listings, home sales and pending sales were down last month in Bend, which isn’t unusual during the transition from summer to fall for the local real estate market.

There were 9% fewer listings of Bend homes last month, down from 190 in August to 173 in September. Home sales slowed by 4%, with 149 homes sold in September, down from 156 in August. Pending sales were down 5%, from 190 in August to 181 last month.

The number of active listings in Bend was down 7% in September, from 552 homes on the market in August to 511 last month.

While these numbers reflect a slowdown month-to-month, it’s interesting to look back at September 2023 and realize how much the local real estate market has shifted since then. This September, there are:

  • 49% more active listings of homes in Bend
  • 33% more new listings
  • 9% more home sales
  • 45% more pending sales

The median sales price of a home in Bend is one metric that isn’t an increase year-over-year, and is down 5% compared to September 2023, when it was $750,000. Last month, the median sales price was $715,000, up 1% from $706,075 in August.

Based on our weekly data, an average of 53 homes had a price improvement each week over the last six weeks. During the same six-week period last year, there was an average of 37 price reductions each week.

With more inventory of homes for sale in Bend year-over-year, and a typical, seasonal slowdown of buyer activity, the days on market are lengthening. Last month, homes were on the market for an average of 54 days before selling, up from 42 days in August. In September 2023, homes were on the market for an average of 15 days.

As a seller, if you have the flexibility to list your home over the fall and winter months, you will have less competition with other new listings in Bend, and it can be an opportunity to highlight the warmth and comfort of your house. For buyers, the market is providing an increasing inventory of homes—the highest in recent months over the last five years. Need help understanding how to meet your real estate goals? We’re here to help.

—Jason

 

 

Median Sales Price

  • The median sales price of a home in Bend was $715,000 in September, up 1% from $706,075 in October.
  • Year-over-year, the median sales price is down 5% compared to $750,000 in September 2023.

New Listings

  • There were 9% fewer new listings in Bend last month, from 190 in August to 173 in September.
  • New listings were up 33% year-over-year; in September 2023, there were 130 new listings.

Home Sold and Pending Sales

  • Home sales were down 4% last month, from 156 Bend homes sold in August to 149 in September.
  • Pending sales were down 5%, from 190 in August to 181 in September.
  • Year-over-year, home sales were up 9% and pending sales were up 45%.

 Active Listings and Months of Inventory

  • In September, active listings in Bend were down 7%, from 552 in August to 511 last month.
  • Year-over-year, active listings are up 49% when compared to 343 Bend homes on the market in September 2023.
  • There is 3.4-months’ worth of inventory in Bend, down just slightly from 3.5-months’ worth in August.
  • In September 2023, there was 2.5 months of inventory.

Days on Market and Price Reductions

  • Bend homes sold in an average of 54 days last month, an increase from 42 days in August.
  • A year ago, it took an average of 15 days to sell a home in Bend.
  • Over the last six weeks, there was an average of 53 price reductions weekly.
Loading