Buyer Activity Surges as Bend Home Prices Continue Modest Growth

The Bend real estate market continued to strengthen in May 2026, with higher home prices, more closed sales, and a significant increase in pending sales compared to one year ago. While affordability remains a challenge for many buyers, the market has shown resilience. Demand remains healthy, inventory is still below last year's levels, and properly priced homes are attracting attention quickly. The strongest signal from May's numbers may be the surge in pending sales, suggesting buyer confidence remains intact heading into the summer market.

Quick Market Snapshot – May 2026

• Median Sales Price: $792,500 ↑ 2.7%
• Closed Sales: 158 ↑ 9.7%
• Sold Price Per Square Foot: $407 ↑ 1.6%
• % of Original Price Received: 97.7% ↑ 0.5%
• Cash Sales: 25.3% ↓ 25.6%
• Sold Volume: $147,842,931 ↑ 10.9%
• List to Close Days: 53 ↓ 19.1%
• Closed Sales with Seller Concessions: 39.2% ↑ 2.7%
• Average Seller Concession: $8,000 ↑ 6.7%
• Median Original List Price: $795,000 ↓ 9.0%
• New Listings: 299 ↑ 2.7%
• Pending Sales: 205 ↑ 25.0%
• Active Inventory: 577 ↓ 14.8%
• Months of Inventory: 3.7 ↓ 22.3%
• Unsold Listings: 32 ↑ 23.1%

Bend Oregon Real Estate Market May 2026

The median sales price for single-family homes on less than an acre increased to $792,500, up 2.7% from May 2025. While not a dramatic increase, it represents continued price stability despite elevated mortgage rates and ongoing affordability concerns. The average sold price per square foot rose to $407, up 1.6% year-over-year, reinforcing the trend of modest appreciation across much of the Bend market. Sellers also received 97.7% of their original asking price, an improvement over last year and evidence that well-priced homes continue to attract competitive interest.

Closed Sales and Pending Activity in Bend

Buyer demand strengthened considerably during May. Closed sales increased to 158 homes, up 9.7% from one year ago. More notably, pending sales surged 25% to 205 transactions, one of the strongest year-over-year gains we've seen so far in 2026. These pending sales are particularly important because they represent future closings and suggest that buyer activity remained strong as the market entered the summer season. Despite higher borrowing costs, many buyers appear to be moving forward with purchasing decisions rather than waiting for interest rates to decline.

Seller Concessions Continue to Influence Transactions

One of the more notable characteristics of today's market is the continued use of seller concessions. In May, 39.2% of all closed sales included seller concessions, up from one year ago. The average concession amount reached $8,000, an increase of 6.7%. These concessions are often used to help buyers offset closing costs, prepaid expenses, or mortgage rate buydowns. While sellers are generally achieving strong sale prices, concessions remain a useful tool for keeping transactions together and addressing affordability concerns.

Inventory Levels and Months of Inventory

Inventory remains relatively constrained compared to last year.

• New Listings: 299 homes (up 2.7%)
• Active Inventory: 577 homes (down 14.8%)
• Months of Inventory: 3.7 months (down 22.3%)

While new listing activity increased slightly, active inventory and overall supply remain lower than they were a year ago. The decline in inventory combined with stronger pending sales continues to provide support for home prices throughout Bend.

Pricing Strategy Remains Critical

The median original list price declined 9% to $795,000, indicating sellers are entering the market with more realistic pricing expectations. That strategy appears to be paying off. Homes moved from list to close in just 53 days, a 19.1% improvement over last year. Buyers continue to respond quickly when homes are appropriately priced and marketed. At the same time, 32 listings were withdrawn from the market without selling, up 23.1% from last year. This serves as a reminder that pricing too aggressively can still result in an unsuccessful listing, even in a healthy market.

What This Means for Buyers and Sellers

For Sellers

Market conditions remain favorable. Inventory is below last year's levels, homes are selling more quickly, and sellers are receiving nearly 98% of their original asking price. However, today's buyers remain value-conscious. Strategic pricing and strong marketing continue to be critical to achieving the best results.

For Buyers

While competition has increased compared to earlier in the year, opportunities still exist. Seller concessions remain common, and buyers have more negotiating flexibility than they did during the peak seller's market years. Preparation and quick decision-making remain important, particularly for homes that are priced competitively.

Market Outlook for Bend Real Estate

The May 2026 data suggests the Bend housing market continues to move in a positive direction. Prices are showing modest appreciation, pending sales are increasing significantly, and inventory remains relatively limited. The combination of stronger buyer activity and lower supply should continue to support market stability through the summer months. Although mortgage rates remain a factor, buyers appear to be adapting to the current environment rather than waiting on the sidelines. If that trend continues, Bend's market should remain healthy through the remainder of the summer selling season.

Bend Oregon Real Estate Market FAQs – May 2026

Are home prices increasing in Bend, Oregon?

Yes. The median sales price increased 2.7% year-over-year in May 2026, reaching $792,500 for single-family homes on less than an acre.

Why are pending sales important?

Pending sales represent homes that have gone under contract but have not yet closed. Because pending sales increased 25% in May, they suggest continued buyer demand and future closing activity.

Are seller concessions still common in Bend?

Yes. Nearly 40% of all closed sales included seller concessions, with an average concession amount of $8,000.

Is Bend currently a buyer's market or seller's market?

With 3.7 months of inventory and strong pending sales activity, Bend remains closer to a seller's market, although conditions are much more balanced than during the pandemic housing boom.

Are homes selling faster than last year?

Yes. The average time from listing to closing declined to 53 days, nearly 20% faster than May 2025.