Bend, OR 97701 Real Estate Market Report

ZIP Code: 97701
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates for properties in Bend, OR are averaging 6.39%, which is 0.52% higher than the 5.87% average observed during the February 2026 market period.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary market indicator, the median sold price of $539,900, signals recent transaction value and suggests a recalibrated market level versus asking expectations; representative recent sale pricing is below the median listing price, indicating pricing friction between seller expectations and closed transactions.

2. Despite a higher median listing price of $579,000, the gap to the median sold price of $539,900 may indicate pricing adjustment pressure as sellers reconcile offers in a market that appears more balanced than the 2025 peak.

3. Liquidity appears slower based on the median days on market of 345, which points to extended marketing time and slower sales velocity even as market temperature is described as neutral, suggesting transactions are completing but at a measured pace.

4. Macro and financing conditions are a headwind: interest rate pressure is moderate and Current 30-year fixed mortgage rates are averaging 6.39%, which is 0.52% higher than the February 2026 average of 5.87%; this combination may constrain price appreciation and supports a balanced-to-cautious outlook for near-term price movement.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Bend, OR 97701 Real Estate Market Report

ZIP Code: 97701
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates for properties in Bend, OR are averaging 6.39%, which is 0.52% higher than the 5.87% average observed during the February 2026 market period.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary market indicator is the median sold price of 383,000, which anchors current valuation and suggests recent transaction activity is centered around that level; given the neutral market temperature, pricing appears to be stabilizing rather than trending strongly in either direction.

2. Liquidity appears slow: the median days on market is 421, which indicates extended time-to-contract and suggests pricing friction or careful buyer selection rather than rapid turnover.

3. Price efficiency shows mixed signals: the median price per square foot is 311, providing a consistent per-unit benchmark for valuation comparisons, while broader trend data shows price year-over-year is down, so sellers may need to align expectations with recent transaction levels.

4. Macro and demand-side context: interest rate pressure is moderate and financing conditions are tighter than earlier in the year (current typical 30-year fixed rates averaging 6.39%, 0.52% higher than 5.87% in February 2026), which, combined with a flat rent year-over-year trend and a median market rent of 1,695, may limit investor appetite and support a measured, balanced market outcome.

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Notable Properties

The following 5 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.