The selection of homes for sale in the Bend, Oregon, real estate market continued to grow in March, building on milestone figures for active listings in the first two months of the year.
The 455 active listings in March were the most for that month since 2014, when there were 467 active listings in Bend. Yet even with the relatively high number of listings, the median price rose from February.
March’s median sales price in Bend was $740,000. That’s 5.7 percent more than February’s median of $700,000. On a year-to-year basis, the median price was 2.6 percent less than the $760,000 in March 2024.
In the last three months, the month-to-month median price has alternated between going up at least $35,000 and going down by at least $35,000.
The inventory of homes in March was 3.7 months. That’s a drop from February’s 4.1 months, but it’s also the highest inventory for any March since it was 5.4 months in 2014. As a reminder, the rule of thumb for a balance between a buyer’s and a seller’s market is six months, so the Bend market continues to tilt toward sellers.
March was the ninth straight month that Bend’s inventory was at least three months. The market had not had that long of a run with at least months of inventory each month since 2018-19 – interestingly, in the same months (July through March).
The average days on market for a Bend home in March declined for the second month in a row, even with the increase in active listings. This data point was 110 days in January, 62 in February and 53 in March. An average DOM of 53 days is the lowest for any March in our data set (dating to the start of 2017) outside of the 2021-23 pandemic-altered years.
We are moving out of the part of the year usually characterized by relatively low real estate activity. If you’re in the market for a home or considering selling your residence, I am confident I can be of help. In all types of markets, I have employed an ethical, client-focused approach that leads to successful outcomes. I have deep and broad experience in the Bend market that goes far beyond sales statistics – experience I will use on your behalf. I invite you to call (541) 362-1031 or click here to visit Bend Property Search and connect through my website.