The median sales price in the Bend, Oregon, residential real estate market rose in August as homes in the highest-priced tier dominated active listings and homes sold.
August’s median price was $769,500, which was 2.4 percent more than July’s median of $751,562 and 9.0 percent more than the August 2024 median of $706,705.
Of the 170 homes sold in August, 30 (17.7) percent were priced at $1.425 million or more. That is the highest percentage of homes from that price tier sold in one month in Bend since April, when that data point was 19.1 percent of total sales and the median price was a record $830,000.
August’s home listings in Bend also skewed toward the boutique end of the market. Of the 662 active listings, 164 (24.8 percent) were priced at $1.425 million or more. This tier of homes hadn’t consumed such a large share of the market since August 2024, with 142 of 552 listings (25.7 percent).
The 662 active listings in August marked the first decline in that data point this calendar year. Through eight months, the Bend, Oregon, real estate market averaged 551 active listings per month. That’s the highest average through eight months of a year since 2010, when there was an average of 657 listings.
August’s 662 listings represented a 20 percent increase from the 552 in August 2024. There hadn’t been as many 600 listings in any August since 2018.
Sold homes declined from July to August, from 177 to 170, and the average days on the market increased from 49 to 53. But the inventory in the Bend real estate market dropped from 4.0 percent in July to 3.9 percent in August.
Looking back to May, inventory – the amount of time required to sell all homes on the market given the current pace of sales – was 4.5 months. Although that is considered to be on the “buyer’s market” side of the analysis (six months is regarded as the boundary between a buyer’s market and a seller’s market), it was also the largest in Bend since a 5.1-month inventory in October. Three months later, Bend’s inventory is back below four months, showing the continued demand for homes in our area.
Activity in the Bend real estate market tends to slow slightly after August. But there have been more listings every month this year than in the same month the year before, so the “new” September might be closer to recent midsummer months in terms of listings and sales. August ended with 208 pending sales, indicating that September is likely to have more sales closing than we’re accustomed to.
Whether you’re in the market for a home priced at the highest end of the spectrum or something in the six-figure range, I believe I can help you achieve a successful outcome. The same applies if you’re thinking of selling your home. I bring my experience, my knowledge of the Bend market and my ethical, client-focused approach to bear on your behalf – regardless of the time of year. I invite you to call me at (541) 362-1031 or click on the link to visit Bend Property Search and connect through my website.