A Quieter Month, More Negotiating Room and the Story Behind the Numbers
August brought an change of pace to Bend’s Orchard neighborhoods. The median sale price came in at $567,500, six homes sold and the neighborhood ended the month with only 10 active listings. But the numbers I find most interesting are the two list to sale percentages. Homes sold for 85.98% of their original asking price, yet 93.96% of their asking price at the time of sale.
That gap tells us quite a bit how buyers and sellers handling their real estate needs in August.
Median Sale Price: $567,500
August’s median sale price dropped to $567,500, compared with $621,000 in July and $627,000 in June.
Before assuming Orchard neighborhood home values suddenly took a big step backward, it’s worth remembering that only six homes sold during August. In a neighborhood with relatively few monthly transactions, the particular homes that sell can move the median quite a bit. We've certainly seen that this year. Monthly median prices have ranged from $557,000 to $750,500.
The average of the monthly median prices through August is $624,750, putting August below the 2026 average but still within the fairly wide range we've seen this year.
Price Per Square Foot: $418
Here’s where things get more interesting.
While the median sale price declined, the median price per square foot actually increased from $381 in July to $418 in August. August was also slightly above the year to date monthly average of approximately $409 per square foot. So we have a lower median sale price but a higher price per square foot.
That's a good reminder that one statistic rarely tells the whole story. The size, age, condition and location of the homes that happen to sell can have a significant effect on the monthly numbers.
Six Homes Sold
August recorded six closed sales, down from 11 in July.
Those sales generated $3,281,500 in total volume. Through the first eight months of 2026, Orchard has recorded 43 sales totaling just over $27 million. August was quieter than July but it wasn't the slowest month of the year. January and March each recorded only two sales.
As we move out of the busy summer season, it'll be interesting to see whether activity picks back up or settles into a more typical fall pace. Or this falls mid term elections, the economy and politics in general have a larger influence on the markets?
The Pricing Story Is Worth Watching
This is probably the most interesting part of the Orchard neighborhoods August numbers.
Homes sold for 85.98% of their original list price, compared with 93.96% of their list price at the time of sale. That’s a sizable difference. It suggests that at least some of the homes that sold needed meaningful price adjustments before buyers were ready to move forward. We've been seeing this theme in several other Bend neighborhoods this summer, although the gap in Orchard was particularly noticeable in August.
Buyers are still purchasing homes, but they're clearly paying attention to value. When the original asking price doesn't line up with what buyers are willing to pay, they're showing a willingness to wait. For sellers, that's a pretty useful message: the market eventually gets a vote on the price.
Inventory Is Surprisingly Tight
The Orchard neighborhoods ended August with only 10 active listings, down from 11 in July and 19 throughout much of the first half of the year. That's not a lot of inventory. Normally, limited selection can give sellers more leverage. Yet August buyers still negotiated meaningful discounts from both the original and final asking prices.
That combination makes the Orchard neighborhoods particularly interesting right now: there aren't a lot of homes to choose from but buyers don't appear willing to overlook pricing simply because inventory is limited.
Homes Are Taking Longer to Sell
The median time on market increased to 80.5 days, up from 32 days in July and 21 days in June.
That's a noticeable shift. The Orchard neighborhoods have experienced some fairly dramatic swings in market time this year from just five days in April to 128 days in February. Through August, the monthly median has averaged about 44 days. So August was definitely on the slower side.
For sellers, it reinforces the importance of those first few weeks on the market. Buyers have access to plenty of information and even when inventory is relatively limited, they're willing to wait when they don't see the right combination of price, condition and value.
Financing Continues to Drive the Market
Of August’s six sales, one was cash and five were financed.
That's consistent with what we've seen throughout much of the year. Through August, Orchard has recorded 11 cash purchases and 32 financed purchases, meaning roughly three out of every four sales have involved financing. That makes mortgage rates and affordability particularly relevant to this neighborhood.
It also separates Orchard from some of Bend's higher priced neighborhoods, where cash purchases can make up a much larger percentage of monthly activity.
What It Means for Buyers
August gave Orchard buyers an interesting combination: limited inventory, but negotiating opportunities.
There may not be dozens of homes to choose from, but the difference between original asking prices and eventual sale prices suggests buyers shouldn't automatically assume that limited inventory means there's no room for discussion. The key is understanding the individual property. A home that's already been priced realistically may offer much less negotiating room than one that's been sitting on the market after starting too high.
What It Means for Sellers
For sellers, August's numbers aren't necessarily negative but they do send a clear message.
There are buyers in the market and the Orchard neighborhoods do not have an abundance of competing inventory but buyers are paying attention. If a property comes to market significantly above where buyers perceive its value, limited inventory alone may not be enough to get them to act.
Price, presentation and condition all matter.
Getting those pieces right from the beginning can be much more effective than testing the market with a higher price and making adjustments later.
Bottom Line
The median sale price was $567,500, price per square foot increased to $418, six homes sold and only 10 listings remained active at month's end. But the bigger story may be pricing. Homes sold for 85.98% of their original asking price and 93.96% of their final asking price, while median market time increased to 80.5 days.
Buyers haven't gone anywhere, they're simply being selective and paying close attention to value.
If you're considering buying or selling in the Orchard neighborhoods, I'd be happy to help you look at what these trends mean for a particular home rather than relying on neighborhood averages alone.
