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Bend Oregon Real Estate | November 2025 Trends
Buyer Activity Picks Up as New Listings Fall Sharply
November brought a shift in the Bend real estate market: strong buyer interest paired with a significant drop in new listings. Pending sales saw a sizable jump from one year ago, even though closed sales held flat and overall pricing trended slightly lower. With fewer homes hitting the market, buyers had to act quickly on the most desirable properties, while sellers benefited from motivated purchasers—even if final sale prices continued to come in below original asking.
When comparing November 2025 with November 2024 for Bend single family home sales on less than an acre, the following changes can be noted:
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Median sales price down 2% to $697,500
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Closed sales unchanged at 124
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Pending sales up 30.7% to 132
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New listings down 22.8% to 95
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Active inventory up 1.8% to 462
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Price per square foot up 2% to $385
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Percent of original price received down 1.2% to 93.6%
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Months of inventory unchanged at 3.7 months
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List-to-close days up 13.2% to 99 days
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Cash sales down 16.7% to 20.2%
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Sold volume down 1.8% to $109,186,235
A Tightening Supply Meets Renewed Buyer Interest
The sharp drop in new listings was the defining factor in November. With 95 homes introduced to the market—nearly a quarter fewer than a year earlier—buyers found themselves with limited options heading into winter. This tightening supply, combined with mortgage rates that eased slightly during the fall, pushed many buyers back into the market, reflected in the strong increase in pending sales.
However, the softening in prices and continued drop in the percentage of the original list price received show that sellers still need to keep expectations realistic. Homes are selling, but buyers are negotiating, and sellers who price too aggressively continue to face longer market times.
Looking Ahead
As Bend enters the deepest winter months, the market appears stable but cautious. Seller behavior—particularly the decision to delay listing until spring—may keep inventory lean through early 2026. If rates continue to settle and more buyers return, competition may tighten again. For now, the market sits in a more balanced place than it has in years, with steady demand and moderate pricing shaping the close of 2025.
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