August 2025 Market Report

Median Sale Price

Bend’s Median Sales Price was FLAT Year-Over-Year in July 2025, coming in at $750K, and slightly UP Month-Over-Month from June 2025. We remain in a market that is driven by the less "rate-sensitive" - as the lower price-point market is much slower than the Luxury and higher price-point markets this year. Well-documented this year has been the inventory rise across all price points, which has created headwinds for Sellers. With Months of Supply nearing 6, softening demand may continue to present more favorable conditions for Buyers throughout the Summer and upcoming Fall. Nationally, we’re seeing a similar trend—especially in markets that experienced sharp price appreciation and increased builder activity over the past four years.

New Listings by Month

New Listings increased +5% YOY in July 2025, and also up slightly Month-Over-Month from June 2025. Over the prior months, we were seeing a +15% to +20% YOY trend each month.  This decline helped keep our Months of Supply below the 6-month level for now, but we will not be surprised if we eclipse that in August.  

Months of Supply

Months of Supply came in at 5.9 months, representing a 0.8 Month of Supply increase to July  2024. We likely did not quite hit 6 Months of Supply due to a softening in New Listings over the last couple of months, but our "market slog" is keeping inventory at levels we have not seen in at least a decade.

Homes Pending by Month

Pending Units increased YOY for the 12th consecutive month, but only by +3% which is a smaller increase than we've experienced in previous months this year. That said, higher inventory and longer Days-On-Market has contributed to a higher number of transactions this year.

Financing Affordability

The Median Monthly Payment (w/ 20% down @ average FRM) for July 2025 came in at $4,293 - continuing contribution to market stagnation, especially in the <$1M market. The latest economic data indicates that we may start seeing some rate relief soon; however, we still do not expect much meaningful attrition on rates in 2025.