Plenty of Activity, More Buyer Choices and a Strong Finish for Well Priced Homes
August was a busy month in Bend’s Old Farm neighborhood, with 27 homes sold up from 23 in July and more than $18.5 million in total sales volume. The median sale price moved down from July but there’s another number I find particularly interesting: homes that sold in August closed at 100% of their list price at the time of sale. That combination tells us quite a bit about the current market. Buyers have choices and they’re paying attention to value, but when a home reaches the right price, they’re willing to step up.
Median Sale Price: $614,900
August’s median sale price was $614,900, down from $725,000 in July.
That’s certainly a noticeable change, but as I’ve mentioned with several of these neighborhood reports I wouldn’t interpret a one-month change in the median as an equivalent change in home values. Old Farm has a broad mix of properties and the particular homes that close during any given month can move the median considerably. Looking at the bigger picture helps. The average of the monthly median sale prices from January through August is approximately $651,186, with monthly medians ranging from $570,000 in March to $725,000 in July.
August was on the lower side of that range, but not dramatically outside what we’ve seen this year.
Price Per Square Foot: $336
The median price per square foot came in at $336, compared with $330 in July.
That’s actually an interesting contrast to the drop in median sale price. While the median sale price declined by more than $100,000 from July, the price per square foot increased slightly. The monthly average through August is approximately $343 per square foot, so August remains pretty close to the neighborhood’s 2026 trend.
That’s another reason I like looking beyond median price alone.
27 Homes Sold
Buyer activity was solid in August with 27 closed sales, matching June and up from 23 in July.
That’s also above the monthly average of approximately 24 sales so far this year. August sales generated $18,587,888 in total volume, the second-highest monthly total of the year behind March’s $19.35 million. Through August, Old Farm has generated nearly $128 million in residential sales volume.
For a neighborhood level market, that’s a healthy amount of activity.
The Pricing Numbers Tell the Story
This may be my favorite part of August’s report.
Homes sold for 95.04% of their original list price, but 100% of their list price at the time of sale. That’s quite a difference and it says something about today’s buyers. Some sellers apparently had to adjust their expectations after initially coming to market. But once those homes reached a price buyers considered appropriate, they sold at the asking price.
We’re seeing similar versions of this same story throughout Bend. Buyers haven’t stopped buying. They’ve just become more particular about what they’re willing to pay. For sellers, that makes pricing correctly from the beginning increasingly important. Starting too high may simply mean spending more time on the market before eventually adjusting to where buyers were willing to engage in the first place.
Inventory Continues to Decline
Old Farm finished August with 51 active listings, down from 54 in July and 69 in June.
In fact, active inventory had remained at roughly 69 – 70 homes from January through June before dropping during the summer.
So while buyers have more choices than they did during Bend’s extremely competitive market a few years ago, Old Farm certainly doesn't look oversupplied based on August's numbers.
Homes Took a Little Longer to Sell
Median market time increased to 40 days, up from 19 days in July and 14 days in June.
That’s worth watching as we head into fall, there’s some perspective here as well. Old Farm started the year with a median 81 days on market in January and 59 in February before dropping sharply during spring and early summer. August’s 40 days tells me buyers aren’t necessarily rushing. They have enough choices to compare properties, look carefully at condition and decide whether the asking price makes sense.
At the same time, the 100% final list-to-sale ratio shows that when buyers do find the right combination of home and price, they’re willing to act.
Financing Dominates the Old Farm Market
August had 4 cash sales and 23 financed sales.
That means roughly 85% of the month’s purchases involved financing. This has actually been a consistent theme in Old Farm throughout 2026. Financed purchases have represented the large majority of transactions every month. That makes Old Farm somewhat different from some of Bend’s higher priced neighborhoods, where cash transactions can make up a much larger percentage of monthly sales.
It also means mortgage rates and affordability are especially relevant when looking at future buyer demand here.
What It Means for Buyers
For buyers, August’s numbers are a bit of a mixed bag in a good way.
You have choices and the difference between original asking prices and eventual selling prices shows that sellers may be willing to adjust when the market tells them they started too high. But don't assume that means every home has a lot of negotiating room. The homes that actually sold in August closed at 100% of their final asking price. So if a good property has already been adjusted to a realistic price, waiting for another large discount may not be the best strategy.
What It Means for Sellers
For sellers, August provides a pretty clear message:
The market is rewarding the right price. Twenty seven sales is solid activity, inventory has declined and successful transactions closed at full final asking price. The 95.04% original list to sale figure also shows that buyers aren't necessarily going to chase an optimistic starting price. Good preparation, presentation and realistic pricing remain important and getting those things right from the beginning may help avoid unnecessary time on the market.
Bottom Line
Old Farm had a solid August and remains one of Bend’s most popular neighborhoods. The median sale price settled at $614,900, 27 homes sold, active inventory declined to 51 properties and total sales volume reached nearly $18.6 million. The number that stands out to is 100%. Homes that successfully sold closed at 100% of their list price at the time of sale. That’s a pretty good indication that buyers are out there and ready to purchase. They are simply doing their homework and responding to homes that offer the right combination of price, condition and value.
If you're considering buying or selling in Old Farm, I'd be happy to help you look beyond the neighborhood averages and see what the market is doing for a particular property or price range.
