At $769,500, the median sales price of a home in Bend was up 2% month-to-month and 9% year-over-year. In July of this year, the median sales price was $752,562, and it was $706,075 in August 2024.
Incentives including concessions sellers extend to buyers—or a cash offer from a buyer—play a big role in the stats we see each month. In August, before concessions from sellers were calculated, 25% of Bend homes sold at or above their original asking price. After concessions were calculated, that statistic dropped to 16%.
These percentages were fairly consistent, both for homes in Bend that sold under $1 million and those that sold over $1 million. In August, 38% of home sales included concessions from sellers, from as low as $300 to as high as $50,000. When it comes to cash, we’re still seeing many Bend homes purchased without mortgages. In August, 32% of the homes sold in Bend were purchased with cash.
Home sales in Bend were down 4% in August, from 177 in July to 170 last month. However, compared with August 2024, home sales were up 9% last month. Pending sales were up 9% year-over-year also, and up 12% month-to-month. There were 208 homes in Bend pending in August, up from 186 in July.
There were 21% fewer new listings of homes in Bend last month, down from 220 in July to 174 in August. New listings were down 8% year-over-year. The length of time it’s taking to sell a home rose from an average of 49 days in July to 53 in August. In August 2024, it took an average of 42 days to sell a Bend home.
Although the number of active listings was down 6% month-to-month, there were 20% more homes on the market in Bend than in August 2024. Active listings were down from 705 in July to 662 in August of this year, but up from 552 in August 2024.
Coming up with a pricing strategy on your home can be challenging, especially in a market as unique as ours. Our approach combines our longtime experience in the Bend real estate market with comprehensive metrics tracked over the last 18 years to help you make informed, data-driven decisions about listing your home. We’re here to help and invite you to reach out with your questions.
—Jason
Median Sales Price
- The median sales price of a home in Bend was $769,500 in August, a 2% increase over $752,562 in July.
- Year-over-year, the median sales price is up 9%; it was $706,075 in August 2024.
New Listings
- There were 21% fewer new listings of Bend homes last month than in July.
- In August, there were 174 new listings, down from 220 in July.
- Year-over-year, new listings are down 8% compared with 190 in August 2024.
Home Sold and Pending Sales
- Home sales in Bend were down 4% in August, from 177 in July to 170 last month.
- Pending sales were up 12% month-to-month, from 186 in July to 208 in August.
- Year-over-year, home sales and pending sales are up 9%.
- In August 2024, there were 156 home sales and 190 pending sales.
Active Listings and Months of Inventory
- Active listings of homes in Bend were down 6% last month, from 705 in July to 662 in August.
- There are 20% more active listings than in August 2024, when 552 homes were on the market.
- There was 3.9-months’ worth of inventory in Bend last month, down 3% from 4 months in July.
- In August 2024, there was 3.5-months’ worth of inventory.
Days on Market and Price Reductions
- The days on market for a home in Bend went from an average of 49 days in July to 53 days in August.
- In August 2024, it took an average of 42 days to sell a Bend home.
- Over the last six weeks, there was an average of 80 price reductions on homes in Bend each week.
- The prior six-week period showed an average of 89 price reductions each week.
