Why Inventory Is Rising in Bend in 2025

After years of tight supply and sky-high demand, the Bend real estate market is shifting.

As of mid-2025, inventory is rising steadily — and it’s a trend worth watching whether you’re planning to buy, sell, or invest.

So what’s behind the surge in available homes? Let’s break it down:

🏡 1. Homeowners Are Finally Ready to List

Many would-be sellers held off during the uncertainty of high interest rates in 2023 and early 2024. But life doesn’t wait forever — people are now ready to move for job changes, family needs, or retirement. As rates stabilize and the market cools, more listings are hitting the market.

“We waited for the right moment, and now we feel like we can finally make a move,” is a common sentiment among sellers in 2025.

📉 2. Affordability Pressure Slows Buyer Demand

Even though interest rates have dipped slightly, home prices remain elevated. This has caused many buyers — especially first-timers — to step back, reassess their budgets, or pursue more affordable options outside the city center.The result? Longer days on market and more active inventory.

🚧 3. Builders Are Catching Up

After years of construction delays due to supply chain and labor issues, new developments are finally making progress. Builders in Bend, Redmond, and La Pine are delivering more finished homes, giving buyers additional choices and increasing total inventory.

From modern townhomes to single-family homes with ADUs, the new build market is heating up.

🏠 4. Investors Are Rebalancing Portfolios

Some real estate investors — particularly those focused on short-term rentals — are reevaluating their holdings. With rising insurance costs, stricter STR regulations, and softer rental demand, some are opting to sell while prices are still high.

This adds even more inventory, especially in desirable locations near downtown, Old Mill, and resort areas.

🔄 What This Means for Buyers and Sellers

The increasing inventory is helping move Bend toward a balanced market for the first time in years. Sellers now face more competition, meaning pricing, presentation, and timing are more important than ever. Meanwhile, buyers have more leverage, less pressure to rush, and more opportunity to negotiate.

We’re not in a buyer’s market yet — but it’s no longer the extreme seller’s market of 2021–2022. If you’re considering a move, this could be your window to act before the next shift.

Curious how your home or neighborhood fits into the bigger picture? Let’s chat about local inventory trends and what they mean for your next move.

FAQs

Q: Is Bend still a seller’s market?

A: Not quite. While Bend hasn’t flipped fully into a buyer’s market, we’re moving toward a more balanced one. Homes are staying on the market longer, and buyers now have more options — and negotiating power.

Q: Why is inventory increasing if demand is still strong?

A: Demand hasn’t disappeared, but it’s become more price-sensitive. At the same time, more sellers are listing, builders are catching up, and some investors are exiting the market — all contributing to the inventory bump.

Q: Should I wait to sell my home in Bend?

A: Not necessarily. If your home is well-maintained, priced right, and marketed effectively, it can still sell quickly. However, you may not see the bidding wars that defined earlier years.

Q: Will increased inventory push prices down?

A: Not dramatically — at least not yet. More inventory can cool price growth, but Bend’s long-term desirability and limited developable land still help support prices.

Q: How can buyers take advantage of this shift?

A: With more choices and fewer bidding wars, buyers can take more time, negotiate better terms, and avoid overpaying. It’s a great time to reenter the market if you felt priced out before.