Late Winter Market Report

While national economic trends often dominate the headlines, it’s imperative to analyze the specific conditions prevailing in our locale. Often people speak about “the market” in general, which is far too broad. You must really zoom into your location to understand the dynamics of what’s going on. We can’t ignore national trends, as they do have some level of impact, but it’s far more important to understand the specifics in Bend and what that means for buyers and sellers locally.

Presently, the Bend real estate market exhibits a state of equilibrium, characterized by a healthy inventory level of approximately three months. This figure signifies a balanced marketplace, affording prospective buyers a reasonable selection of available properties without inducing undue scarcity. If you remember a few years ago between 2020-22, it was typical for there to be less than 1.5 months of inventory, which along with low interest rates helped drive the madness of the COVID real estate world.

Furthermore, we observe approximately 350 active listings, representing a diverse array of residential options. This breadth of choice enables discerning buyers to identify properties that align with their specific requirements and preferences. The current market conditions facilitate a more deliberate and considered decision-making process, a welcome departure from the accelerated pace of previous years.

The average days on market (DOM) currently stand at 45. This metric indicates a measured market pace, where buyers are conducting thorough due diligence and sellers are adopting realistic pricing strategies. This extended DOM reflects a return to a more traditional market dynamic, where transactions are conducted with prudence and deliberation.

The prevailing market conditions, characterized by a stable inventory, ample listings and a moderate DOM, can be attributed to the enduring desirability of Bend as a residential destination, coupled with the persistent influence of elevated interest rates.

The sustained period of higher interest rates, now approaching three years, has effectively moderated the frenzied market activity observed in previous cycles. However, it has not diminished the fundamental attraction of Bend as a desirable place to reside. This confluence of factors has resulted in a market that is both robust and stable. Therefore, the following guidance is offered:

For Prospective Buyers: The current market presents a favorable opportunity for strategic acquisition. The availability of inventory and the extended DOM provide ample time for thorough evaluation and negotiation. It’s advisable to engage a qualified real estate professional to navigate the market and secure a property that aligns with your financial and lifestyle objectives.

For Prospective Sellers: A well-informed and strategic approach is paramount. Accurate pricing, comprehensive marketing and a patient negotiation strategy are essential for achieving a successful transaction. The market favors sellers who present their properties competitively and are prepared to engage in constructive dialogue with prospective buyers.

This article appears in The Source Weekly March 20, 2025.