July 2026 Market Report

Thoughts for Buyers

We are starting to see some of the advantages buyers have enjoyed begin to narrow in some cases. New listings dropped nearly 5% this quarter while pending sales jumped over 10%. Translation: fewer homes coming on the market, more of them getting snapped up. Shopping under $700K? This might be your moment. The median payment on a Bend home right now, 20% down, is $3,637, low compared to the past two years. If rates dip toward 6%, expect demand and prices to move quickly. Don't wait for a better rate to act, treat any dip as your cue. Shopping between $1.2M and $3M? Keep an eye on the stock market. When it rallies, Bend's high end tends to follow, and we're already seeing that start to play out in luxury home sales this summer.


Thoughts for Sellers

Wow!  What a market turn around for Sellers compared to where we were 4 months ago!   We are watching in real time, as the market appears to be rebounding from the slow performance of the first quarter.  This is most notable when we look at the performance of new construction homes in Discovery West.  Two months ago, there was close to 5 months if inventoy in this neighborhood just in new construction homes. Now we are at 2.3 months of inventory AND listing volumes have increased dramatically.  How should sellers navigate this trend?  For homes that are already on the market, pricigin is still key.  In general, listings that are selling are still priced below last year's comps.  If you are priced above, it is time to take a redcution to capture the increasing demand.  Some buyers are still coming in with incredibly low offers, because they've been focused on the headlines from earlier in the year.  If this is the case, a counter offer with good fatucatl data that backs up the recent shift in the market is key to negotiating your position.  For those looking to list, you have about 6 good wees left of prime buyer traffic before the market takes a pause from late August to mid December.  Make sure you are still taking time to adequately prepare your home before listing, but time is of the esscence so make sure to get it on the market before the end of July.


Monthly Median Sales Price

As expected, Bend's median sales price dropped from nearly 800K last month to 727K in June, roughly flat to 2025. Price reductions led by lackluster sales volumes on Bend's West side combined with a  massive rally in the financial markets is leading to a renewed boost in overall sales volumes. We expect to see the median and average sales prices for homes in Bend to stay in line with what we saw in 2025 through the end of summer, and we could see a rally towards the last quarter of 2026.  Towards the back half of 2025 Bend's inventories were hitting levels not seen in over 13 years, which led to declining prices.  Right now, listing volumes are lighter than typical, which means we will most likely see a shortage of inventory from September through December when compared to last year.

New Listings By Month

In Q1 2026 new listing volumes were up 9%  YOY.  Q2, which is typically higher in volume, was down nearly 5% to last year. We believe some of the listing declines in Q2 are related to the soft Q1 sales performance. The reduction in listing activity is leading to much tighter inventories for the summer of 2026 compared to 2025.

Monthls of Supply

Months of supply are dramatically down compared to last year.  In 2025 our inventory levels peaked in July at 5.9 months, and June was hovering around 5.75 months.  This year's decrease in Q2 listing volumes helped reduce our months of supply for June to 4.73 months.

Homes Pending By Month

Pending units jumped again in June, up over 10% year over year.  We believe that this is due to a rebound in the financial markets accompanied by significant price reductions.  This increase combined with a lack of listings is contributing to a much tighter real estate market compared to 2025. We expect this trend to continue through the remainder of this summer.

Adffordability

30-year rates continue to stay elevated near 6.5% and with a correction in the median sales price of a Bend home that is more in line with the year to date trend, your monthly payment without taxes and insurance is $3,637.  This is back to a relatively low amount compared to what we've seen over the past 2 years.