Bend Oregon Real Estate - November 2021 Trends

By
Real Estate Broker/Owner with Bend Premier Real Estate 200009031

Bend OR Real Estate Sales Still Strong November 2021

Bend homes prices are still rising, despite the seasonal slowdown that is experienced in 4th quarter. Demand is strong, but there is a significant reduction in inventory as is typical in the fall, especially once the holiday season begins. The median home price of a Bend single family home has broken a new record and is now pushing $700,000. More purchases this fall have involved loans as compared with the 2021 summer when cash buyers usually won in a multiple offer scenario. With fewer multiple offers, more buyers with loans are having their offers accepted. If the price of the home works for their budget, first time homeowners are now seeing their offers accepted.

When November of 2021 is compared with November of 2020, the following can be noted for Bend single family home sales on less than an acre:

  • Average sales price up 26.4% to $808,882*
  • Median sales price up 26.9% to $683,250
  • New listings up 10.9% to 143
  • Homes for sale down 62.3% to 172
  • Pending sales up 68.4% to 357
  • Sold homes down 4.3% to 201
  • Median days on market up 83.3% to 11
  • Months of supply down 61.9% to .8
  • Average price per square foot up 22.2% to $385
  • Median price per square foot up 21.6% to $360
  • Median percentage of list price received down .2% to 100%
  • Dollar Volume of closed sales up 19.2% to $160,158,550

Although Bend Home Sales Have Slowed, It is Still a Seller's Market

Lack of inventory with strong demand has been an issue for many months in Central Oregon. The Bend market continues to experience insufficient inventory levels to meet the demand of buyers.  This has led to among the highest home prices we have ever seen, with no end in sight. With both average and median sales prices up 26% from November of 2021, we can anticipate that Bend homeowners will keep seeing increased equity in their property. For those willing to sell at market prices, they should find their homes sell quickly for top dollar.

Bend Real Estate

Original blog can be read at Bend Premier Real Estate's blog page.

Comments (10)

Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I hear it's a beautiful place for property. I am most definitely am feeling the Oregon vibe

Dec 10, 2021 06:38 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

How HIGH can they Go? That is the question. Green sells and requires more Green to get it. Jeff 😎

Dec 10, 2021 09:49 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Lynnea... amazing to me how similar the trends in our respective markets are (except for price). We have a number of areas in the Charlotte region where home sale prices have set new records in Novmeber 2021 and inventory is down to less than half of a month.

Dec 11, 2021 05:18 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Lynnea and Thanks for your market report to share with us here in the Rain.  Make it a great day!

Dec 11, 2021 08:32 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Lynnea:

This is a well-done and easy to follow analysis of the Bend housing market. Seems we are seeing plenty of record setting around the country.

Jeff

Dec 14, 2021 03:25 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local real estate reports.

Dec 16, 2021 01:02 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lynnea, Bend's real estate market sounds like Denver's, except your sales price is about $100K more.   Great report.

Dec 20, 2021 01:12 PM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Hi Joan Cox .  Thanks for checking in! Our prices have been shocking me all year - and they keep rising!

Dec 20, 2021 01:37 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Tuesday morning, Lynnea.

I hope you are having a productive month. Enjoy the holidays.

Dec 21, 2021 06:07 AM
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Price appreciation in Bend is great for homeowners and a challenge for home buyers. Same as across much of the country.

Dec 24, 2021 04:32 PM