If you've been watching the housing market lately, you may have seen headlines about a surprising surge in pending home sales across the U.S. — the highest we've seen in nearly three years. That's a big deal for buyers and sellers alike, and when you pair it with what we're seeing locally here in Bend and Central Oregon, a clear picture starts to emerge: opportunity — but only if you understand the market on both the national and local level. Reuters

National Momentum: Pending Sales on the Rise

In November, contracts to purchase previously owned U.S. homes climbed 3.3% from October and were 2.6% higher than a year ago — far above what economists expected. This bumped the index tracking these agreements to its highest level since early 2023, a sign that buyers are re-entering the market with confidence. Reuters

According to the National Association of Realtors, what's driving that renewed activity is a combination of:

• Lower mortgage rates than we saw earlier in the year

• Wage growth that's outpacing home-price gains

• More homes available than in recent tight-inventory years Reuters

The national average rate for a 30-year fixed mortgage has dipped into the low-6% range — the most affordable it's been in over a year. Reuters

What's Happening Here in Bend and Central Oregon

While national trends are encouraging, local market conditions are what really matter if you're thinking about buying or selling here in Bend.

Here's the snapshot:

Bend Market by the Numbers (Late 2025)

• Median Sale Price: About $680,000–$760,000 — up modestly year-over-year in many reports. Redfin

• Average Days on Market: Roughly 65–77 days, meaning buyers are taking their time — and sellers have an opportunity to stand out with thoughtful pricing and presentation. Redfin+1

• Inventory: Levels are higher than they've been in recent years, giving buyers more choices. The Bulletin

• Pending to Sold Days: Around 66 days from pending to contracted — a healthy pace that reflects real decision-making. Zillow

This paints a picture of a balanced market, where neither buyers nor sellers are at a dramatic disadvantage — and where well-positioned homes still perform very well. Bend Premier Real Estate

What This Means for Buyers

More choices + better affordability = opportunity.

If you've been sitting on the sidelines hoping for a market crash — that's not what we're seeing here. Instead, the conditions are giving you room to:

✔ Tour more homes at your own pace rather than rushing to bid
✔ Negotiate with confidence (especially on homes that have been listed longer)
✔ Lock in rates in the low-6% range before they possibly tick up again — a plus compared with earlier in 2025

That's especially important in a lifestyle-focused market like Bend, where many buyers are relocating from larger West Coast cities and are drawn not just by outdoor access and community — but by stability and quality-of-life value.

What This Means for Sellers

For sellers, the message is clear: preparedness pays off.

While homes aren't flying off the market in days the way they did during the most frenetic years of 2020–2022, well-priced, well-presented properties do attract attention — and often result in strong offers. Because buyers have more options than they've had in years, pricing strategy matters more than ever.

With inventory higher than a decade ago in some months, a thoughtful staging strategy and realistic pricing are key to standing out. The Bulletin

Bend's Market Is Becoming More Balanced — And That's a Good Thing

After several years of rapid price growth and tight supply, 2025 ushered in a bit more breathing room for everyone — buyers, sellers, and investors alike. More homes are active on the market, and the pace of sales reflects steady, intentional decision-making rather than frenzied bidding wars. 

That doesn't mean prices are collapsing — they're stable and, in many segments, inching upward — but there's enough supply and clarity to give people confidence to act when the time is right.

Bottom Line

Whether you're buying your first home, moving up, downsizing, or thinking about selling:

• Buyers benefit from more choices and true negotiation power.

• Sellers still see healthy demand when properties are positioned well.

• Both sides gain from a market that's shifting into balance rather than extremes.

If you'd like a customized snapshot of current Bend market stats — including pending sales, recent comps, and neighborhood-specific trends — just let us know! Our Bend Premier Brokers are happy to put together a report tailored to your goals.