March brought a bit of a bounce back for the Bend housing market. The median home price ticked up with the season, landing at $748,000.
We also saw 122 homes sell—that’s 28 more than in February, which is pretty typical as we head into spring.
Cash sales have been holding steady. Last month, there were 34 homes bought with cash and 78 with conventional financing. That’s a total increase of 29 conventionally financed sales from February, and much of that likely has to do with mortgage rates slowly coming down.
Homes are starting to sell faster, too. After the slower winter months, the average time on market is now about 32 days before a home gets an accepted offer. It’s a nice drop from the past few months, even if it’s still a bit longer than what we’ve seen in recent years.
Inventory is holding at around three months, which is a pretty balanced spot. That said, some of the higher price ranges are a little more saturated and are taking longer to move:
$825K–$925K → ~5.3 months of inventory
$1.125M–$1.225M → ~9.5 months
$1.225M–$1.325M → ~6.7 months
$1.425M+ → ~6.9 months
So, if you're shopping or selling in those price points, it might take a bit longer.
If you are in the market to buy or sell, reach out to me—let’s discuss how the market trends could impact your next move.
