Posts from March 7th, 2023
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Bend Oregon Real Estate | February 2023 Trends
Bend Home Prices Coming Down
For many years we have tracked Bend real estate trends and have consistently watched home prices rise year over year. Since coming out of the housing recession in 2011, Bend median home prices have risen over 465% from a low of $165,210 in December, 2010 to a high of $775,000 in March of 2022. When the Covid-19 pandemic hit, the rate of Bend home price increase accelerated to over 75% in three years. This rate of increase was unsustainable and since reaching their high last summer, Bend home prices have fallen.
February 2023 was the first month which saw a year over year price reduction in Bend homes. When February 2023 Bend single family home sales on less than an acre are compared with those from February 2022, the following changes can be seen:
- Average sales price down 7% to $821,827*