The Buyer's Market Has Changed. Have You? - The Source

The Bend housing market has shifted in ways that give buyers more room to negotiate — and they’re starting to take advantage of it. More options, longer days on market and a growing willingness from sellers to negotiate have created opportunities for buyers to be more selective and strategic. But having leverage and knowing how to use it are two very different things.

One of the clearest signs of this shift is seller concessions. Year to date, 43.9% of closed single-family homes in Bend have included a concession — the highest percentage ever recorded. To put that in perspective, concessions were included in just 19.3% of sales in 2021 and 8.5% in 2016. The average concession in 2026 is approximately $9,000, giving today’s buyers another tool when negotiating a purchase. *Data sourced from local FlexMLS and deemed reliable.

With more ways to negotiate and more variables to consider, today’s buyers have more to think about than simply finding a home they like and deciding what to offer. Before making that offer, here are four questions every buyer should be asking.

1. Am I negotiating the price—or the entire deal?

The best deal isn’t always the one with the lowest purchase price. Buyers may be able to negotiate seller-paid closing costs, repairs, interest-rate buydowns or other terms that can meaningfully affect the overall cost of the purchase.

A $10,000 price reduction may sound better than a $10,000 concession, but depending on the buyer’s circumstances, the opposite could be true. The important thing is understanding the options and determining which provides the most value.

2. What am I really getting for my money?

A home’s value isn’t determined by its listing price alone. Buyers should consider the complete transaction, including financing, condition, inspection findings, concessions, ongoing costs and long-term value.

A slightly higher-priced home with favorable terms may ultimately be a better deal than a cheaper home with little room for negotiation. The goal isn’t simply to spend less. It’s to get the most value for what you spend.

3. How much leverage do I have—and how should I use it?

Having more negotiating power doesn’t mean every offer will be accepted. The strongest negotiations are based on evidence: How long has the property been on the market? Has the price been reduced? How does it compare with recent sales? What competing homes are available? Is the seller offering concessions?

Just as important is knowing when to push, when to compromise and when to walk away. The goal isn’t to “win” the negotiation. It’s to buy the right home on the right terms.

4. Am I waiting for a better market—or waiting for certainty?

Mortgage rates, inventory and prices will continue to change. Waiting for the perfect combination of lower rates, falling prices and abundant inventory may mean waiting for a market that never arrives.

Instead, buyers should focus on whether a home fits their needs and whether the numbers make sense for their situation today.

Of course, knowing which questions to ask is only part of the equation. Knowing how to answer them—and turn those answers into a successful negotiation—is where experience matters.

Today’s buyers have access to more information than ever, including online tools and artificial intelligence. But information isn’t the same as local knowledge, experience or negotiation skill. AI can help a buyer understand what concessions are possible. An experienced real estate advisor can help determine which concession to pursue, how much to ask for and how to structure the offer.

The Bend market may have changed. For buyers, the opportunity isn’t simply having more leverage. It’s knowing what to do with it.

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