The Bend real estate market woke up in May. With 238 homes sold, rates quietly ticking down, and serious buyers competing for well-positioned listings, this month’s data tells a story worth paying attention to whether you’re thinking about buying, selling, or simply watching the market you live in.
Here’s what the numbers say, and what they actually mean.
π THE MAY NUMBERS
The median sale price in Bend landed at $807,450, with homes selling at $435 per square foot. Buyers and sellers are meeting close to asking price, the sale-to-list ratio came in at 97.32%, meaning most negotiations are modest, not dramatic.
At 44 days average on market and 4.07 months of supply, Bend has settled into balanced market territory, but don’t mistake balance for slow. The right homes, in the right locations, priced with intention, are still generating immediate interest and multiple offers.
970 active listings are on the market right now, giving buyers more choices than they’ve had in years. That inventory is real and it’s creating a clear divide between homes that are positioned well and those that aren’t.
π° WHERE RATES STAND
The 30-year fixed rate sits at 6.49% this month, down from 6.67% a year ago. It’s not a dramatic drop, but for buyers who’ve been doing the math, it’s a meaningful one. Affordability is incrementally improving, and the buyers in today’s market know it.
π·οΈ WHERE THE MARKET IS MOVING
Under $1M β Bend
157 homes sold in May, with the most activity concentrated in SE and NE Bend. These homes are averaging 30 days to find a buyer and selling at asking. There is some room to negotiate on credits or repairs, but don’t confuse flexibility with weakness. Priced-right homes in desirable pockets are not waiting.
$1M and Above β Bend
81 homes changed hands above $1M, driven largely by NW Bend. The story here mirrors the broader market, 30 days to contract, at asking, with modest room for credits or repairs. The luxury segment is active, and out-of-state buyers continue to find Bend compelling at this price point.
π NEIGHBORHOODS TO WATCH
Northwest Crossing
With a median sale price of $915,000 and 38 days on market, Northwest Crossing remains one of Bend’s most consistently in-demand neighborhoods. Demand is outpacing supply, and multiple offer situations are still happening here. If NW Crossing is on your list, come prepared, pre-approved, decisive, and ready to move quickly.
Awbrey Butte
At a median of $1,385,000 and 43 days on market, Awbrey Butte is drawing strong interest at the luxury level. The homes that are priced and presented well are moving within the first week. If you’ve been watching this neighborhood, waiting isn’t a strategy the right listing won’t sit.
π― STRAIGHT TALK FOR BUYERS AND SELLERS
For Buyers
The summer market is here, and activity is picking up. Get pre-approved now even if you’re still in research mode. Homes that are well-priced and well-presented are selling at asking or receiving multiple offers immediately. A useful benchmark to keep in mind: if a home has been sitting for more than 30 days, it’s likely due for a price adjustment. That’s your window to negotiate.
For Sellers
Four months of inventory puts Bend in a balanced market, but one that still leans in your direction. The buyers out there right now are serious and qualified. They’re also discerning. Location, quality, and deferred maintenance are the three things they’re evaluating in every home they walk through, and they’re factoring all of it into their offers. If your pricing doesn’t account for all three, expect longer days on market, repair requests, and credits at closing. Get ahead of it and you’ll find the right buyer faster than you think.
π WANT TO GO DEEPER?
Questions about what May’s market data mean for your specific situation? That’s exactly what I’m here for. Let’s connect,
Kim Halverson, Cascade Hasson Sotheby’s International
Hi@LovelyBendHomes.com, 541-371-2787 direct
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