September 2023- Bend Market Update
As we soak in the autumn scenery with our pumpkin spice lattes, it's a great time to check in on our local real estate scene.
Earlier in the year, most experts forecasted that the 30-year, fixed-mortgage rate would fall to within the 5% to 6% range in later 2023. Unfortunately, they seemed to miss the mark as last month's average 30-year fixed-rate mortgage surpassed 7%. Despite these rates, Bend witnessed a modest increase in the median sales price, which now stands at $750,000.
How do we compare? Below are the median sales prices for September in other Central Oregon communities.
La Pine: $399,000
What's Happening in Bend this October?
The 20th annual Bend Film Festival is happening this October 12-15th. This festival brings the work of the most talented independent filmmakers to Bend. Click here to see the 2023 schedule.
How long has it been since you've done a pub crawl? I'm guessing it's been too long. The Pints for Polio Pub Walk is on October 21st from 1-4 PM, and there are approximately 14 pubs participating. Since 2012, a total of 300,000 vaccines have been funded by this event. Click here for more details.
How is the Bend Real Estate Market? In September, we had 343 active listings, 130 new listings, and 125 listings go pending. Sold homes are spending an average of 17 days on the market, and for the fourth month in a row we have a stable 2 month supply of inventory.