If you’ve ever sold real estate — or really anything — you’ve probably been warned about the importance of listing at the right price. But what do the actual numbers say, and what’s the reasoning behind it? In August, single-family homes in Bend sold for an average of 94.1% of their original list price — the lowest August figure since 2011. Median days on market climbed to 32, the highest since 2012. These shifts tie directly to inventory levels.
A “seller’s market” typically occurs when there is less than three months of active inventory, a trend Bend homeowners enjoyed from 2020 through much of 2023. A “buyer’s market” is generally defined as six months or more of inventory, something Bend hasn’t seen consistently since 2011. Today, the market sits in between, with 4.3 months of active inventory (Central Oregon Flex MLS).
This means Bend homeowners now, more than at any time in the past 14 years, need to price their properties accurately if they want them to sell. While each home is unique—factors like location, season, and condition all play a role—one fact is clear: overpricing limits your audience.
According to The Real Estate Trainer, listing at market value will attract about 60% of eligible buyers. Price a home 10% above market, and interest drops to around 30%. Push it 15% higher and only about 10% of buyers will look. To put it simply, if your home’s fair market value is $1,000,000 and there are 100 buyers in that range, 60 will consider it at the correct price. At $1,100,000, that number falls to 30. At $1,150,000, you’re left with just 10.
Redfin reports that buyers view an average of 8–10 homes before making a purchase. Cutting your potential pool in half — or worse — makes it far more likely your home will become one of those listings that lingers on the market. Some sellers think, “I’ll just start high and reduce the price later.” While that’s possible, it comes with risk. The longer a home sits and the more price reductions it sees, the more suspicion it raises among buyers. Human nature assumes something must be wrong.
In today’s evolving market, it’s more important than ever to understand the process and work with a real estate advisor who is actively tracking conditions and tailoring strategies to your needs.
Key things to keep in mind when listing your home:
●Do you need to achieve a specific price for your property, or are you more focused on moving forward with your plans?
●Do you have a hard timeline for selling, or is there flexibility in your schedule?
●What are the current market conditions, and how are they shifting month to month?
●How does your home compare to similar listings in location, condition, and amenities?
●Are you prepared to adjust your strategy quickly if the market changes or feedback suggests your pricing is off?
Asking yourself these questions upfront — and being honest about the answers — can make the difference between a home that sells smoothly and one that lingers on the market.
Nathan Powers is the director of Marketing/Business Development at Engel & Völkers Bend
This article appears in the Source October 2, 2025.
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