August 2025 Housing Market Report for Central Oregon

Bend Market Overview

Inventory in Bend edged down from 5 months in June to 4.5 months in July, keeping the market balanced but slightly favoring sellers. The median sale price held steady at $750,000, essentially unchanged from $749,000 last year.

Homes are moving in 21–24 days on average, with roughly 25% of July sales topping $1 million. The $550k–$700k range is the most active price point, while luxury homes above $1.4M are selling more slowly, with six to seven months of inventory. More than half of listings have seen price cuts — a normal seasonal trend that often accelerates heading into fall.

Redmond Market Overview

In Redmond, the median sale price dipped from $530,000 in June to $506,000 in July, down slightly from $528,000 last year. Homes are taking longer to sell, with median marketing times rising from 17 days in May to 26 days in July. Sales volume has eased for three straight months, while inventory has held steady at 3 months.

The slower pace means buyers have more negotiation room, but well-priced homes are still attracting offers. Sellers need to stay competitive with pricing and presentation to capture buyer attention.

Key Trends to Watch

• Rates Near Lows: Mortgage rates are close to their one-year low, giving buyers more purchasing power.

• Pent-Up Demand: Years of delayed moves are building momentum, with July marking the highest number of monthly sales since September 2022.

• Fall Surge Potential: Market activity feels poised to pick up as we move into fall, possibly making it the “spring market” of 2025.

Advice for Buyers & Sellers

For Buyers:
In Bend, act quickly on competitively priced homes. In Redmond, take advantage of slightly more time and room to negotiate, but have financing ready to move fast when the right property comes along.

For Sellers:
Bend’s tighter inventory gives an edge, but accurate pricing is still essential. In Redmond, standout marketing and sharp pricing are key to attracting offers.

Bottom Line

Sellers are getting punished for overpricing their homes. As David Keyte points out, buyers today are well-informed, and with plenty of options, they’ll skip an overpriced listing without hesitation. In this market, starting at the right price isn’t just strategy — it’s survival.

Read the full Beacon Report for Central Oregon August 2025