December 2025 Housing Market Report for Central Oregon

Welcome to our holiday edition of the Beacon Report, a short-and-sweet market update for Bend and Redmond as we head into the slowest stretch of the real estate calendar. If the market feels quiet right now, that’s because it is—and that’s perfectly normal. Think of December real estate like the gym between Christmas and New Year’s: the lights are on, but most people are on vacation. 🎄

That said, beneath the calm surface, there are some important signals worth paying attention to—especially if you’re planning a move in 2026.

The Big Picture: The Fed, Rates, and 2026 on the Horizon

The biggest national headline this month came from the Federal Reserve, which cut interest rates for the third time this year. In addition, the Fed began purchasing approximately $40 billion in short-term U.S. Treasuries. While they didn’t officially label this as “quantitative easing,” the effect is familiar: injecting liquidity into the system to support assets and reduce borrowing costs.

Here’s the key takeaway:

• When the Fed prints money to buy debt, interest rates tend to move lower over time
• Mortgage rates don’t always drop immediately, but this is generally a tailwind for buyers
• All eyes are now on 2026, which is shaping up to be a fascinating year with potential Fed leadership changes and a market ready to unwind years of pent-up demand

Translation? The chess pieces are being set, even if the board looks quiet right now.

Local Market Snapshot: Bend & Redmond

Let’s jump into the local data from the Beacon Report, because this is where things get interesting.

Inventory: Where Did All the Homes Go?

Inventory has tightened up significantly:

• Bend SFR inventory: ~3 months

• Redmond SFR inventory: ~1.5 months

Earlier this year, Bend inventory climbed as high as six months. So what happened?

Simple: many sellers pulled their homes off the market when they didn’t sell. Those homes didn’t disappear—they’re just waiting on the sidelines and are likely to return in 2026 when conditions improve.

As the Beacon Report author notes:

“Bend and Redmond SFR inventory declined slightly in November, to 3 and 1 ½ month supply, respectively.”

Sales & Pricing: Quiet, but Stable

November closings came in at 122 sales, which sounds low—but it’s exactly what we expect during the holidays. Interestingly, that number is:

• Slightly higher than November 2024 (119 sales)
• Higher than November 2023 (114 sales)

So while it feels slow, the market is actually holding up better than many past years.

Price-wise:

• Bend’s median SFR sale price was very similar to November 2024

• Redmond’s median SFR sale price came in slightly higher than last year, with nearly the same number of sales

Again, from the Beacon Report:

“Median SFR sale price in Bend was similar to the median SFR sale price in November of 2024, with slightly more sales last month compared to Nov 2024. Redmond SFR median sale price last month was a little higher than in Nov 2024 with close to the same number of sales.”

That’s quiet confidence—not chaos.

Days on Market & Price Adjustments: You’re Not Alone

If your home has been sitting longer than expected, take a deep breath—you’re in good company:

• Median days on market for unsold homes: 99 days

• Over half of all listings have had price reductions
• Average price change: ~6% from original list price

This isn’t failure; it’s reality in a slower, more negotiable market. Deals are still getting done—just more thoughtfully.

What This Means for Buyers

If you’re a buyer who:

• Likes fewer crowds
• Wants time to think
• Enjoys negotiating without pressure

…then December through January is your moment.

Seasonal pricing anomalies often show up in the winter, and we’re already seeing hints of that. Historically, strong buying opportunities emerge in December, January, and February, before activity ramps back up in the spring.

Prepared buyers may find:

• More motivated sellers
• Better terms
• Less competition

If you want to “beat the rush,” now is the time to strategize—not scramble.

What This Means for Sellers

Let’s be honest: the holiday market is not a seller’s market. Showings slow down, buyers travel, and momentum pauses.

But here’s the silver lining:

• Serious buyers are still active
• Listings that stay on now are often positioning themselves for a stronger 2026
• Sellers who price and prepare strategically can still succeed

If your home didn’t sell this year, it doesn’t mean it won’t—it may just mean timing needs to catch up with motivation.

Looking Ahead: Why 2026 Could Be Big

We’re coming off three of the slowest years in modern real estate, and demand hasn’t vanished—it’s been coiling. As rates trend down and confidence improves, we expect:

• More buyers coming “out of the woodwork”
• More sellers re-entering the market
• A more active, competitive landscape

January 2026 is when the race really begins.

Final Thoughts

For now, enjoy the holidays. Spend time with family. Go to Mexico if you can. 🌴
And if you’re thinking about buying or selling in the next 6–18 months, this is the perfect time to plan, not panic.

If you’d like a personalized strategy or just want to talk through your options, the Bend Relo team is always happy to help. Sometimes the smartest move is simply being prepared before everyone else wakes up.

Happy holidays—and here’s to a strong year ahead. 🎉

Read the full Beacon Report for Central Oregon December 2025