What Did the Bend Market Do in the First Half of 2026?
First, let's look at June.
Bend's median home price fell $67,000. If that's all you looked at, you'd think the market was cooling. But that's not the whole story.
201 homes sold in June, up 28% from May and 44% from last June. So why did prices fall? Different homes sold.
May had an unusually high number of luxury sales, pushing the median to $795,000. June saw more homes sell in Bend's core price ranges, bringing the median back to $728,000. That doesn't mean your home's value suddenly dropped 8%.
In fact, one of our favorite stats tells a different story: price per square foot came in at $356, almost identical to last June's $355. That suggests underlying home values have been remarkably stable despite the monthly swings in median price.
Other June Highlights
- Inventory held steady around 3.5 months, indicating a balanced market between buyers and sellers.
- Cash buyers made up about 30% of all sales.
- Homes sold in a median of 18 days, compared to 24 days last June.
For reference, during the peak COVID frenzy, inventory sat at two weeks or less. Three and a half months means buyers have real choices without the market tipping into oversupply.
What June Means for Buyers and Sellers Right Now
For buyers, more inventory than we've seen in recent years creates room to negotiate. Asking for concessions, repairs, or price reductions is reasonable in this environment, something that simply wasn't possible a few years ago.
For sellers, the market is rewarding homes that are priced correctly and presented well. Staged, clean, decluttered, and photographed in a way that looks good on a phone screen. Homes that aren't hitting those marks are sitting. Suzanne's weekly Real Deal email newsletter recently featured almost exclusively properties that had been on the market over 100 days, a clear pattern for anyone paying attention.
"Testing the market just is not a thing right now. The market is really rewarding homes and sellers that are pricing well and are well presented."
To us, this is what a healthy market looks like. Buyers have more choices and negotiating power, but well-priced homes are still selling quickly. Sellers can absolutely succeed. They just need to price strategically instead of testing the market.
First Half of 2026: The Bigger Picture
Now that we're into Q3, it's worth stepping back to look at how the first six months shaped up for Bend real estate as a whole.
- 914 homes sold in the first half of 2026, compared to 759 during the same period last year, a 20% increase in sales volume.
- Inventory grew from about 2.5 months in January to 3.5 months by the end of June, giving buyers more options without creating an oversupply.
- Cash buyers made up about 30% of first-half sales, down from roughly 35% last year, meaning financed buyers are becoming a bigger part of the market again.
- Price per square foot finished almost exactly where it was a year ago, confirming that underlying values have held steady even as the monthly median fluctuates.
The biggest story from the first half of the year isn't prices. It's participation. More buyers are getting off the sidelines, and that's happening even with interest rates still sitting in the mid-sixes.
Bottom Line
More buyers. More homes selling. More inventory. Stable values. That's a healthy, balanced market heading into the second half of 2026. There's no oversupply pushing prices down, and there's no shortage driving buyers into bidding wars. For investors watching Bend, this kind of stability is worth paying attention to.
Stay Connected with COIN
Want to talk through what Q3 might bring for Bend real estate, or discuss your own buying and selling plans? Join us at the Central Oregon Investor Network monthly meetup, where local and out-of-state investors come together to share resources and learn from one another. And if you're ready to build passive income through real estate, check out the PRIMO Private Money Academy to learn how private money lending works in this market. We'd love to see you there.
