The Mid-Year Checkup: Bend Real Estate in 2026

As the celebration of America’s 250th birthday fades into the background and more people begin floating down the Deschutes each afternoon, one thing is certain — we’ve officially reached the halfway point of 2026. That also means it’s time to see what the first six months of Bend’s real estate market have revealed.

After a fast start fueled by optimism, momentum cooled as mortgage rates climbed back into the mid-6% range. But beyond the headlines, what do the numbers actually say? More homes have sold than in any first half since 2022, median prices have dipped, homes are selling faster than last year, and sellers are still receiving nearly 96% of their original asking price.

Below is a comparison of five key indicators over the past five years. All data reflects residential sales (single-family homes, condos, and townhomes) from the local Flex MLS.

Homes Sold:

Through June, Bend recorded 1,192 residential sales—the strongest first half since 2022. Much of that momentum came during May and June, when sales increased roughly 12.5% year over year despite lower inventory, showing buyers remain active even with higher mortgage rates.

Median Sale Price/Median Price Per Sq/Ft/% of Original List Price Received:

At first glance, a lower median sale price alongside a stable price per square foot seems contradictory, but it reflects what buyers are purchasing. Sales under $700,000 are up 15%, 25%, and 6% compared to the previous three years, pulling the overall median price lower.

Perhaps most surprising is how little Bend’s price per square foot has changed over the past five years after the rapid appreciation seen during the COVID housing boom. Many homeowners who purchased between 2021 and 2023 are discovering their homes have appreciated far less than expected — or, in some cases, are worth slightly less than when they purchased—helping explain why sellers are averaging 95.9% of their original asking price rather than receiving multiple offers above list.

Median Days on Market:

Homes are selling faster than a year ago but remain well above the pace seen during the pandemic. That trend is consistent across price points, with homes under $700,000 averaging 21 days on the market, homes between $700,000 and $1 million average 15 days, and luxury homes average 18 days.

Conclusion:

The numbers suggest Bend has settled into a more balanced market—one where realistic expectations matter more than urgency. Buyers have more negotiating power than they did just a few years ago, while sellers who price strategically continue to find success. Every market creates opportunities — it simply changes who those opportunities favor. Rather than trying to perfectly time the market, the better approach is making the right decision for your circumstances with guidance from an experienced real estate advisor.

This article appears in the Source July 9, 2026.