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8

July 8th, 2024 by

Bend Home Prices Up as are Inventory Levels

Bend home prices are up year over year but so are inventory levels. The rate of the increase in Bend home prices has dropped, but we are still not experiencing overall reduced home prices. While buyers have more options, mortgage interest rates (just short of 7% as of July 3, 2024) remain high which has limited the buying power for many. July typically is the busiest month of the year for Central Oregon home sales and it remains to be seen whether the combination of high prices and high mortgage interest rates will curtail Bend real estate sales this summer.

When June 2024 is compared with June 2023, the following changes for Bend single family home sales on less than an acre can be noted:
  • Average sales price up 5.9% to $969,547*
  • Median sales price unchanged at $775,000
  • Average list price up 4.3% to $990,450
  • Median list price up 10.1% to $825,000
  • New listings down 11.7% to 219
  • Homes for sale up 19.5% to 459
  • Pending sales down 10.7% to 142
  • Sold homes down 18.4% to 146
  • Average days on market up 6.1% to 35
  • Months of supply up 37% to 3.7
  • Price per square foot up 4.6% to $453
  • Average percentage of list price received up .1% to 99.5%
  • Dollar volume of closed sales down 13.6% to 141,553,797
The last time Bend's inventory level was at 3.7 months was July 2015. However, the average Bend home price in July 2015 was $391,044 and mortgage interest rates per Freddie Mac were around 4%. Now the average Bend home is listed close to a million dollars and mortgage rates are close to 7%. As the summer progresses, those home sellers who need to sell before fall may find that they will need to adjust their sales price to accommodate the limited purchasing power of many potential Bend home buyers. 

Bend Oregon Real Estate Months of Supply June 2024
Bend real estate Average Home price June 2024
Categories: Bend Oregon Real Estate Trends
Tags: bend oregon real estate, bend real estate, bend homes for sale, bend oregon, bend home prices, bend single family homes, bend homes, bend real estate trends, Downtown Bend, Bend Luxury Homes, Old Mill, Awbrey Butte, Awbrey Glen, Awbrey Village, Broken Top, Deschutes RiverWoods, Mt Bachelor Village, NorthWest Crossing, Shevlin Ridge, Skyliner Summit, The Bridges, Tetherow, Bend, Tuscany Pines, Widgi Creek, Easton, Westgate, Wood River Village, Discovery West Phase 2, Discovery West Phase 3, Discovery West Phase 4, Discovery West Phase 5, Shevlin Park area, Mortgage
Related Markets: Awbrey Butte , Awbrey Glen , Bend , Broken Top , Deschutes RiverWoods , Discovery West Phase 2 , Discovery West Phase 3 , Discovery West Phase 4 , Discovery West Phase 5 , Downtown Bend , Easton , Mt Bachelor Village , NorthWest Crossing , Shevlin Park area , Shevlin Ridge , Tetherow , The Bridges , Westgate , Widgi Creek , Wood River Village
550 NW Franklin Ave., Suite 108
Bend, OR 97703
(619) 519-1615
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 03/09/2026. The listing information on this page last changed on 03/09/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Mon 03/09/2026 5:42:34 PM EST) or RMLS (last updated Mon 03/09/2026 5:40:29 PM EST) or COAR/MLSCO (last updated Mon 03/09/2026 5:41:43 PM EST). Real estate listings held by brokerage firms other than Bend Premier Real Estate may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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