Bend Real Estate at the Halfway Point
The first six months of 2026 are in the books, and the Bend real estate market has a story worth telling.
After a fast start fueled by optimism, momentum cooled as mortgage rates climbed back into the mid-6% range. But the headline numbers are more encouraging. Through June, Bend recorded 1,192 residential sales, the strongest first half since 2022. Much of that momentum came in May and June, when sales rose roughly 12.5% year over year despite lower inventory, a sign that buyers remain active even with higher rates.
Median sale prices have dipped, but the reason is more nuanced than it appears. Sales under $700,000 are up significantly compared to the previous three years, pulling the overall median lower. Price per square foot, meanwhile, has remained largely stable. What that tells you is that the market has not declined so much as it has shifted toward a different buyer profile.
For homeowners who purchased between 2021 and 2023, the picture is a bit more complicated. Appreciation since the COVID boom has been modest, and some owners are finding their homes worth less than expected. That reality is reflected in sellers averaging about 95.9% of their original asking price, a notable shift from the multiple-offer environment of a few years ago.
Days on market are faster than a year ago across all price points. Homes under $700,000 are averaging 21 days, mid-range homes between $700,000 and $1 million are moving in around 15 days, and even luxury homes are averaging just 18 days. Well-priced homes are still finding buyers without sitting.
The overall picture is a market that has settled into something more balanced. Buyers have more room to negotiate than they have in years, and sellers who price strategically are still finding success. The opportunity is real on both sides of the transaction.
If you are weighing a move in Central Oregon and want to talk through what these numbers mean for your specific situation, I would love to connect. Reach out anytime!
