Active listings in the Bend, Oregon, real estate market in May were at their highest in almost seven years as opportunities for buyers continued to increase.
There were 631 active listings in May. That is 21 percent more than the active listings in the month prior (522), and 65 percent higher than in May 2024. The last time the Bend real estate market had as many active listings in one month was August 2018, when there were 634.
One hundred forty homes were sold in May – seven fewer than in April – but the average days on market decreased to 46 days from April’s figure of 68 days. Inventory (the time it would take to sell all homes on the market at the current pace of sales) rose 25 percent, from 3.6 months in April to 4.5 months in May. The 4.5-month inventory is the highest for the Bend market since October 2019, when it was 5.1 months.
After April’s median sales price set a record for the Bend market, May’s data point – predictably – retreated. The median price in Bend in May was $774,250. That’s 6.7 percent less than April’s figure of $830,000 and 2.6 percent higher than the median price in May 2024.
Our data set begins in 2007, and May’s median price is the fifth-highest in any one month on record for Bend. May’s data brought the year-to-date median price to $750,000, which is 4 percent more than Bend’s year-to-date median sales price through May 2024.
May ended with 202 pending sales. The sum of pending sales and homes sold in May was 342, the most in the Bend market since August 2024 (346 combined).
Whereas April’s sales data in Bend – including the median price – reflected an outsized influence from homes priced at more than $1.4 million, May’s market statistics showed the influence of homes priced for less than that.
Every price tier for homes at $1.4 million and less had an inventory of less than that of the highest-priced tier. Two price tiers ($625,100-$725,000 and $925,100-$1.025 million) had a sales price-to-list price ratio of at least 100 percent. The average days on market for homes in the price tiers of $1.4 million and less, in the main, were less than that for the priciest tier (75 days).
Wherever you are in a real estate journey – considering selling your home, looking to buy, investigating the Bend market from a high level – I believe I can be of help. We have access to years of information to help you make decisions backed by data. We bring extensive experience, in all market conditions, deep knowledge of Bend and a client-focused, ethical approach to our work. We’d be pleased to help you meet your real estate goals. Please call (541) 362-1031 or click here to visit Bend Property Search and connect through my website.