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Bend Oregon Area Real Estate Market Insights May 2024

May 2024 Bend Real Estate Market Recap 🤔 Why do more people pay cash for homes in May? Here's the headline for last month's Bend real estate market: 🤯 Bend's median home price increased nearly 7%, or $46,000 in ONE MONTH. Is that bananas or what? 💵 Not only did the Bend median home price increase to $753,000, we also saw nearly 40% of all sales paid for with cash. In fact, May 2024 had to the highest rate of cash sales since LAST MAY. Now that's an interesting trend... what's that all about? 🎄Here's what we think - Taxmas. Uh, what the heck is Taxmas? It's like Christmas during tax season, my friend! 🎁 And if you're an Oregon resident, you know Santa was VERY generous this Taxmas! 🤑 Many Oregonians got a big fat check from Uncle Sam when they filed their taxes this year. And even though we now have the highest months of inventory since pre-pandemic days, much of that inventory is above $1M. 🟰 Days on market stayed flat at 10 days, so homes are moving pretty quick once they hit the market. So far in 2024, May was the: BEST month for sellers 💲Highest sales price (tied with March) 🔻Least days on market COSTLIEST month for buyers 🔺High interest rates 🔺High prices What to know what’s coming next? 🤓 We have predictions, and you know we love crunching the numbers to find the next trends! Email us us for where we foresee the market going in June and beyond! 📲 For more information contact: SARAH LYNCH WILLIS Licensed Oregon Realtor® Realty One Group Discovery 📲 503-739-5006 📧 [email protected] 👩‍💻 centraloregonlandsales.com + SUZANNE MOORE Licensed Oregon Realtor® Realty One Group Discovery 📲 541-316-0396 📧 [email protected] 👩‍💻 centraloregoninvestornetwork.com