Bend Oregon Housing Market Snapshot – February 2026

Here are the key statistics shaping the Bend Oregon real estate market in February 2026:

• Median Sales Price: $725,000 (up 3.6%)

• Closed Sales: 117 homes (up 20.6%)

• Price Per Square Foot: $391 (up 6.5%)

• Sold Dollar Volume: $109,639,192 (up 31.2%)

• New Listings: 198 homes (up 13.8%)

• Pending Sales: 146 homes (up 19.7%)

• Active Inventory: 380 homes (down 12.2%)

• Months of Inventory: 3.2 months (down 27.2%)

• List to Close Days: 105 days (up 9.4%)

• Percent of Original List Price Received: 94.5% (down 2.1%)

• Cash Sales: 29.9% of transactions (down 12.1%)

• Unsold Homes: 34 (up 142.9%)

These numbers reflect a market where buyer activity is increasing while inventory tightens, creating steady price growth and a competitive environment for well-priced homes.

Buyer Activity Strengthens as Inventory Tightens

February 2026 brought renewed momentum to the Bend housing market. Closed sales increased significantly compared with last year, and buyer activity remained strong with a noticeable rise in pending transactions.

At the same time, the number of homes available for sale declined, tightening overall supply. When demand increases while inventory contracts, the result is typically steady price growth and stronger competition among buyers.

While the market remains far more balanced than the fast-moving conditions seen during 2021 and early 2022, February's numbers suggest the Bend market is entering the spring season with solid underlying demand.

Bend Oregon Real Estate Market February 2026

Several key indicators highlight the strength of the current market:

• Median Sales Price: $725,000 — up 3.6%

• Closed Sales: 117 homes — up 20.6%

• Price Per Square Foot: $391 — up 6.5%

• Sold Dollar Volume: $109,639,192 — up 31.2%

The increase in total dollar volume reflects both higher prices and increased transaction activity. Buyers remain active across multiple price points, particularly in well-located neighborhoods with strong lifestyle appeal.

Median Sales Price Trends for Bend Single-Family Homes

The Bend median home price reached $725,000, representing a 3.6% year-over-year increase.

While appreciation has moderated compared with the rapid gains seen earlier in the decade, Bend continues to show consistent long-term pricing strength driven by several factors:

• continued migration to Central Oregon

• Bend's nationally recognized outdoor lifestyle

• limited long-term housing supply relative to demand

This pattern of moderate appreciation is widely viewed as a healthier and more sustainable market trajectory.

Closed Sales and Pending Activity in Bend

Buyer activity increased notably during February.

• Closed Sales: 117 homes — up 20.6%

• New Pending Sales: 146 homes — up 19.7%

Pending sales often serve as a forward indicator of market activity. The increase suggests that transaction volume may remain elevated as the spring selling season approaches.

However, buyers remain more deliberate than they were during the peak market years, carefully evaluating value, interest rates, and long-term affordability.

Inventory Levels and Months of Inventory

Inventory tightened considerably compared with last year.

• Active Listings: 380 homes — down 12.2%

• Months of Supply: 3.2 months — down 27.2%

A balanced housing market typically sits around five to six months of supply. With Bend currently near three months of inventory, the market still leans toward sellers, particularly for well-priced homes in desirable neighborhoods.

Limited supply can lead to increased competition when appealing properties enter the market.

Pricing Behavior and Negotiation Trends

Although home prices increased, negotiation patterns shifted slightly.

• Price Per Square Foot: $391 — up 6.5%

• Percent of Original Price Received: 94.5% — down 2.1%

This indicates buyers are still paying strong prices overall, but the market now allows for more pricing discipline and negotiation compared with the height of the pandemic-era market.

Homes priced accurately for current conditions tend to sell efficiently, while over-priced listings may require adjustments.

Cash Sales and Market Composition

Cash purchases declined compared with last year.

• Cash Sales: 29.9% of transactions — down 12.1%

Cash buyers still represent a significant portion of the Bend market, but the shift suggests financed buyers are becoming a larger share of overall transactions, which can slightly moderate price acceleration.

Days on Market and Unsold Inventory

Market timelines lengthened slightly.

• List-to-Close Days: 105 days — up 9.4%

• Unsold Homes: 34 — up 142.9%

While the majority of homes are still selling, this increase in unsold listings reinforces the importance of accurate pricing and effective market positioning.

New Listings Entering the Market

More sellers entered the market during February.

• New Listings: 198 homes — up 13.8%

Many homeowners appear to be preparing for the upcoming spring selling season. However, because overall inventory declined, new listings are still being absorbed by buyer demand relatively quickly.

What This Means for Bend Buyers and Sellers

For buyers, today's market offers more negotiating room than the peak frenzy years, though limited inventory means desirable homes may still move quickly.

For sellers, the market remains favorable, particularly for homes that are priced appropriately and presented well. Strong buyer activity combined with tightening inventory continues to support pricing stability.

Bend Real Estate Market Outlook

As Bend moves deeper into the 2026 spring market, several factors will influence housing trends:

• mortgage interest rate movement

• continued relocation to Central Oregon

• new inventory entering the market

If buyer demand remains steady while supply stays limited, Bend could see continued price stability and moderate appreciation throughout the year.

Bend Oregon Housing Market FAQ

Is the Bend Oregon housing market rising or falling?
The Bend housing market is currently experiencing moderate price growth with rising sales activity and tightening inventory.

Is Bend still a seller's market?
Yes. With 3.2 months of housing supply, the market still favors sellers, although buyers now have more negotiating leverage than during previous peak years.

Are home prices increasing in Bend Oregon?
Yes. The February 2026 median sales price reached $725,000, representing a 3.6% increase year over year.