Bend Real Estate Market Shifts | November 2024
The Bend Real Estate single-family residential (SFR) market experienced a notable shift last month, with the median sale price dropping from $800K in October to $700K—its lowest point since early 2024. High-end properties over $1 million represented roughly 21% of total sales in November, a significant decrease from 35% in October.
Sales activity slowed overall, with fewer transactions and an increase in average days on market to 51 days. Meanwhile, SFR inventory remained steady at around a 3-month supply. These seasonal patterns, including longer market times and reduced sales volume, are consistent with Central Oregon’s typical real estate trends for this time of year.
Bend, Oregon continues to be a sought-after destination for homebuyers, thanks to its unique blend of outdoor recreation, vibrant culture, and small-town charm. However, like many real estate markets, Bend is influenced by seasonal trends and broader economic factors. This time of year often brings slower sales activity, longer marketing times, and price adjustments, as buyers and sellers navigate the holiday season and colder months.
Despite these seasonal changes, Bend remains a desirable market with strong long-term potential. Inventory held steady at a 3-month supply in November, providing opportunities for both buyers and sellers to make strategic moves. Whether you’re looking for a luxury home or a starter property, understanding the current market dynamics is key to achieving your real estate goal.
Bend, Oregon: A Thriving Real Estate Market in the Heart of Central Oregon
Bend, Oregon, is one of the most desirable places to live in the Pacific Northwest, offering a perfect blend of outdoor adventure, vibrant city life, and strong real estate investment opportunities. Nestled against the eastern slopes of the Cascade Mountains, Bend attracts homebuyers with its stunning scenery, thriving economy, and high quality of life. The real estate market here is dynamic, with a mix of luxury homes, modern downtown condos, family-friendly neighborhoods, and investment properties that continue to see strong demand.
The city’s outdoor lifestyle is a major draw, with world-class skiing at Mt. Bachelor, miles of scenic trails, and endless opportunities for kayaking, fishing, and mountain biking. Bend’s bustling downtown and the Old Mill District offer trendy restaurants, craft breweries, boutique shopping, and a lively arts scene, making it an attractive place for both full-time residents and second-home buyers. With continued population growth, job opportunities, and infrastructure improvements, Bend remains a prime location for real estate investment and homeownership in Central Oregon.