Bend Real Estate Sales - January 2023 Trends

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

Bend Home Sales Facing New Twists and Turns

The road ahead for Bend home sales in 2023 is facing many changes from that seen in 2022. Although the fall 2022 Bend real estate market experienced a season of transition with a significant slowing of home sales, the change should be looked at in relationship to the market prior to the Covid-19 pandemic and resulting real estate boom. While the road ahead appears to be in a "slow down" mode, it is all relative to an overall healthy market more balanced between sellers and buyers.

When January 2023 is compared with January 2022 for Bend single family home sales, the following changes are noted:

  • Average sales price up 7.9% to $849,680*
  • Median sales price up .3% to $684,950
  • New listings down 27.8% to 109
  • Homes for sale up 59.4% to 204
  • Pending sales down 24.4% to 121
  • Sold homes down 36.8% to 84
  • Median days on market up 277.8% to 34
  • Months of supply up 116.7% to 1.3
  • Average price per square foot down 3.3% to $378
  • Average percentage of list price to sales price down 1.7% to 98.3%
  • Dollar volume down 31.9% to $71,373,088

Are Bend Real Estate Sales Returning to Pre-Covid Conditions?

We have been experiencing this change from a booming sellers' market in which lack of inventory drove multiple offers and home prices upward to a market in transition for the past six months, the major impetus to this change coming from rising interest rates. We are seeing the growth in home prices leveling off and with less demand for homes, inventory levels and days on market increasing. With more options for home buyers, the need for sellers to price their listings to today's market has added importance. Listening to the advice of a well informed Bend Premier Real Estate broker is more important than ever when pricing a home to sell. 

Bend Oregon Real Estate

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

Comments (8)

John Pusa
Glendale, CA

Hello Lynnea Miller very good detailed real estate sales report for Bend, Oregon.

Feb 07, 2023 04:20 PM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Hi John Pusa .  Thanks for checking in! Our market is definitely in transition. 

Feb 07, 2023 05:09 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Thanks for the marketing report Lynnea and your "Bend in the Road" photo was very engaging it pulled me right in. I like it. Jeff

Feb 07, 2023 08:23 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Lynnea... I read your numbers with great interest. Ours in the Charlotte region are quick similar in terms of trends, except for one thing... we have now had seven consecutive months of much lower new listings resulting in a low months supply of inventory.

Feb 08, 2023 04:38 AM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Hi Nina Hollander, Broker . Thanks for checking in.  And yes, fewer new listings, but existing listings sitting longer has led to an increase in inventory. But inventory still very low.  We are working to encourage new listings asap.

Feb 09, 2023 09:19 AM
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Hi Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI .  I try to find photos that work for the topic of the blog.  Glad it caught your attention.

Feb 09, 2023 09:20 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Lynnea Miller well I have been crying wolf for the past six months and no one listened, our market has turned in the end of the third quarter of last year.... but the good news is check out my market report today and you will see an upbeat bounce .... Endre

Feb 10, 2023 09:23 PM
Roy Kelley
Retired - Gaithersburg, MD

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

Have a great day and a productive week.

Feb 23, 2023 10:10 AM