After an all-time high of $799,950 in July, the median sales price in Bend was down 8% in August to $738,389. The median price is 3% higher than August of last year, when it was $717,000.
There were 5% fewer new listings last month in Bend—which is a normal trend from July to August—down from 164 in July to 155 in August. Active listings were down 5% also, with 354 Bend homes on the market in August. Based on our weekly research, active listings were down about 10% in the first two weeks of September. Last week, there were 320 active listings in Bend.
As some of the 195 pending transactions were processed in August, home sales rose 16%, from 140 in July to 162 last month. Pending sales were down 25%, with 146 homes pending in August. It took an average of 18 days to sell a Bend home last month, quicker than the 24 days in July.
If you are considering the timing of listing your home in Central Oregon this fall and winter, we can help you position your listing at the right price and the right time. Please contact us to chat about your real estate goals.
Median Sales Price
- The median price of a home in Bend is $738,389, down 8% from an all-time high in July of $799,950.
- In August 2022, the median sales price in Bend was $717,000, 3% less than it is currently
- There were 5% fewer new listings in August, from 164 in July to 155 last month.
- Year-over-year, new listings are down 14% compared with July 2022, when 181 Bend homes new to the market.
Home Sold and Pending Sales
- Home sales were up 16% last month, from 140 in July to 162 in August.
- Pending sales were down 25% in August, from a 2023 high of 195 in July to 146 last month.
Active Listings and Months of Inventory
- There were 5% fewer active listings of Bend homes in August, from 374 in July to 354 last month.
- In August 2022, there were 437 active listings in Bend.
- Based on our weekly research, active listings are down about 10% in the first two weeks of September.
- The months of inventory was 2.2 months in August, down 19% from July (2.7 months’ worth) and down 4% from August 2022 (2.3 months’ worth).389
Days on Market and Price Reductions
- It took an average of 18 days to sell a home in Bend in August, down 25% from 24 days in July.
- In August 2022, there were an average of 25 days on market.
- Over the last six weeks, price reductions on homes in Bend averaged 36 per week.