The Year Sellers Had to Adjust

The dust has settled and all of the numbers have been recorded, allowing us to look back at the big picture of the year that was Bend real estate in 2025. It was a year defined by the most pronounced buyer’s market in years, as sellers experienced pre-COVID inventory levels paired with significantly fewer sales, longer days on market, lower percentages of list price received, and higher levels of concessions, among other challenges. In a culture where everything is often framed as either “the worst” or “the best” thing ever witnessed, it’s worth taking a step back and letting the data tell the actual story.

For this analysis, we’re looking at single-family homes, condos and townhouses, comparing key metrics to the previous four years to properly contextualize market conditions.

All local data is sourced from the Flex MLS and deemed reliable.

Closed Sales

Analysis:

While sellers faced tougher market conditions, closed sales actually surpassed the previous two years. Although still well below the COVID-era anomaly, this represents a gradual and encouraging increase in overall activity.

Days on Market

Analysis:

Days on market increased at a pace similar to what we saw between 2023 and 2024. While it’s far too early to make definitive predictions, early indicators suggest a market that may be beginning to stabilize. As sellers increasingly recognize the importance of accurate pricing, we should expect homes to sit for shorter periods moving forward.

Percentage of Original List Price Received

Analysis:

This is arguably the most telling statistic from 2025. Many sellers’ expectations have been shaped by more than a decade of favorable conditions, making it notable that this is the first time since 2012 that sellers received less than 96% of their original asking price.

Percentage of Transactions with Concessions

Average Concession Amount

Analysis:

This trend is not surprising. Buyers held more negotiating power than they have at any point since 2011–2012, and increased home prices only amplified the size of concessions. With more inventory and less urgency, buyers were better positioned to ask for—and receive—meaningful credits.

Conclusion: The Big Takeaways from 2025

While 2025 was undeniably more challenging for sellers, it was far from a broken market. Activity improved compared to the prior two years, buyer demand remained present, and pricing realism began to re-enter the conversation. The data points to a market that is recalibrating rather than collapsing — one where strategy, pricing, and preparation mattered more than ever. For buyers, opportunity expanded. For sellers, success required adaptation. As Bend heads into 2026, the numbers suggest a market moving toward balance, rewarding those who understand and respond to its evolving dynamics.

This article appears in the Source January 22, 2026.