MARKET UPDATE • BEND

Pictured Above: Mt. Bachelor in Bend, Oregon

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“Before you make up your mind about buying or selling in Bend, let’s make sure we’ve looked at all the facts. Here is a look at whats happening in the Bend Real Estate market right now, November 12th, 2025.”

— Justin Scott • REALTOR® • Varsity Real Estate

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The Waiting Game:
Everyone's asking the same question right now - should I wait or should I move? Bend's market is whispering contradictory messages: opportunity for some, caution for others. Local broker Justin Scott cuts through the noise to reveal what's really happening in Central Oregon and why your next move matters more than your timing.

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Selling Your Home in This Market

FACTS FOR SELLERS ✅ You've still got a slight edge in Bend, but with 122 days on market and half your competition dropping prices, nail your pricing strategy from day one or risk joining the discount crowd in a sea of 711 listings.

BRUTALLY HONEST FOR SELLERS ‼️ You're entering a crowded arena where half your competition has already blinked and dropped prices. Unless you need to sell now, why compete in November and December’s buyer markets, when spring historically brings hungrier buyers and perhaps thinner inventory? Time is your friend here.

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Buying a Home in This Market

FACTS FOR BUYERS ✅ Bend's buyer-friendly buffet: 711 homes to choose from, half already price-dropped, and sellers sitting for 122 days, strong negotiating, a $600k-$900k+ budget, and competition still lurks on well-priced homes.

BRUTALLY HONEST FOR BUYERS ‼️ 711 homes, 122 days on market, 52% already discounted ➡️ this market is begging you to wait. Let sellers sweat through winter while you watch prices drop and desperation rise. Your dream home will still be there in March, likely at a lower price.

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JUSTIN + REALTOR® IN BEND

“The good news is that I'm ready to help.  Let's talk if you, or someone you know, is planning to make a move this Winter or Spring. Chairlift conversations packed with powder laps are preferred.”

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Why Your Next Move Matters More Than Your Timing

The truth most agents won't tell you: perfect timing is a myth we chase while opportunities slip away.

Whether you're buying or selling in Bend right now, the how will always outweigh the when.

Buyers who wait for rock-bottom deals or rates often miss the home they have their eye on. Sellers who wait for peak market conditions often end up competing with a dozen other spring listings in their neighborhood, all fighting for the same buyer pool.

Your next move matters because it's built on strategy, not speculation. It's about pricing right from day one, negotiating with confidence, understanding inspection issues before they derail deals, and knowing which properties will hold value in Central Oregon's market. It's about having someone in your corner who lives here, works hard, and knows the local housing market.

The market will do what it does.

Your move, STRATEGIC, INFORMED, and ALIGNED with your life, is what changes everything.

Ready to make your move?

Let's talk strategy, not timing.

Call or text me (541) 797-9939

Justin Scott

REALTOR® in Bend, Oregon

Varsity Real Estate

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I still have a handful of discounted Mt. Bachelor lift tickets available for you. If you’d like one shoot me a text or give me a call ❄️ ⛷️

Mt. Bachelor Conditions Report - click here

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Do you know someone who is thinking about buying or selling in Central Oregon?

I’d love an introduction. My business is built on referrals, friendships, and word of mouth. Thank you for telling them about me. As always, if you’d like to hit the mountain for some powder laps, or the indoor range for a practice session, give me a call and we’ll make it happen!

❤️

Justin Scott

(541) 797 - 9939

Justin@varsityoregon.com

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Pictured Below: Left image: My right foot Airmax 90 raised I head back to the clubhouse after a productive range session. If you’re looking for a nice range session playlist, check out my friend Jain’s Range Sessions Spotify Playlist - click here or click the middle image below. Far right: Tetherow Owl located just off Kidd Corner.

INDUSTRIAL DESIGN • BEND

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“I wanted to be in a quiet mountain town with a creative pulse.”

— Adam Kingman

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Change of Scenery:
Trading SEATTLE for CENTRAL OREGON, Industrial Designer Adam Kingman has settled into his new home studio, EXPANDING his CREATIVE PRACTICE within one of BEND’S most desirable RESORT COMMUNITIES, Tetherow.

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How I met Adam.

Last year, a few short weeks after I activated my real estate license with Varsity Real Estate, I got a message from my friend Brian in Seattle. He let me know he had a friend interested in moving to Bend. His friend had looked at a few houses online, and rather than being assigned by one of the big-box data scrapers (Zillow, Redfin, etc.), Brian thought Adam would like to see houses with me, so he connected us via text message, and that’s how I met Adam. Through a friend.

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How things went after our introduction:

On the Monday before Christmas, we looked at three houses, wrote an offer on the one Adam knew he wanted. With some strong negotiating and favorable terms, we were under contract by New Year’s Eve. With help from Tyler Blackwell at Movement Mortgage, we were able to close thirty days later, and my first deal was quietly tucked away into the smooth sailing file. The best part of the whole thing…Adam. I love creative, interesting people with a point of view. This is why my client and I became close friends… and also the golf. I love golf. So that helps. When I meet someone who’s creative, interesting, has a point of view, and shares my love for golf, odds are we’re gonna get along.

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ADAM + INDUSTRIAL DESIGN

“I’ve always been fascinated by our relationship to objects and spaces.”

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8 QUESTIONS: WITH MY FRIEND ADAM

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001: What is one thing you absolutely love about your new home?

I can see the stars while I fall asleep.

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002: What was the inspiration for your move to Bend?

Wanted to be in a quiet mountain town with a creative pulse.

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003: What do you love about living in Tetherow?

Right on the edge of the woods, exposure to sunlight, proximity to skiing.

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004: You are a talented industrial designer. For those who aren’t familiar with industrial design, what is industrial design?

The design of objects and how we interact with them.

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005: Tell me about your path into industrial design?

I’ve always been fascinated by our relationship to objects and spaces.

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006: Is there a project you’re most proud of?

The things I made on NBC’s Making It are very dear to me.

Click here to see the things Adam made on NBC’s Making It

Follow Adam’s Work: Adam Kingman’s Website • Instagram Profile • YouTube Channel

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007: What is a book you’ve read that you highly recommend? Why?

Jeff Tweedy’s How to Write One Song. This was a good nudge to just take a step each day in the direction you want to go.

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008: What is your golf handicap? Favorite course in Oregon?

I don’t even know yet!

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Do you know someone who is thinking about buying or selling in Central Oregon?

I’d love an introduction. My business is built on referrals, friendships, and word of mouth. Thank you for telling them about me. As always, if you’d like to hit the range for a practice session with Adam and I, or get out for 18 holes, give me a call and we’ll make it happen!

❤️

Justin Scott

(541) 797 - 9939

Justin@varsityoregon.com

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Pictured Below: Left image: My right foot Airmax 90 raised as Adam and I head back to the clubhouse after a productive range session. If you’re looking for a nice range session playlist, check out my friend Jain’s Range Sessions Spotify Playlist - click here or click the middle image below. Far right: Tetherow Owl located just off Kidd Corner. Owl photo credit to Adam Kingman. Nice shot Adam!

ALIGNMENT • WINS

OCTOBER 2025 ➡️ BEND AND CENTRAL OREGON REAL ESTATE MARKET

Is it a good time to make a move?

What is the market like right now?

Now that I'm a Full-Time REALTOR® in Bend, people ask me these two questions a lot. They are genuinely curious, and I appreciate them asking. In addition to recommending that people get aligned with a smart, hard-working, emotionally intelligent REALTOR®, here is what I’m thinking when they ask the above questions…Always best to look at the data, and balance data with your goals and dreams. Where I go for good real estate data: The Beacon Report.

Beacon Report for October 2025 is telling us there is a steady, balanced real estate market in Bend and Central Oregon, creating good opportunities for both buyers and sellers.

Current Market Snapshot

• Median price for Bend single-family homes is $725,000

• Inventory stands at 4 months, with 560 homes on the market and 1,693 sold in the last year, 180 homes sold last month. This is the most homes sold year over year in September in the past four years.

• Median sales price per sq. ft. is $359, and median days-on-market is 39. Inside our office, we’ve been having a conversation around sales price per sq. ft. Is this a good metric for determining sales price or determining a good deal? That’s debatable. Here is a link to a great article written on price per square foot by a colleague of mine. Jenn Redd from Hiatus Homes and Varsity Real Estate. Specifically, why cost per square foot doesn’t matter in small home building - click here for article

For Interested Buyers:
First-time buyers will find more choices and less competition, thanks to improved inventory and gradual, stable pricing; we’re not seeing the rapid jumps of past years. Homes are selling at a moderate pace, so you have time for proper due diligence, and you can negotiate with greater confidence, knowing the data supports realistic offers. The five buyers I’ve written offers for this year have all been 1-3%+ below the list price.

For Curious Sellers:
Price stabilization means your home’s value is less likely to suddenly drop, and motivated buyers remain in the market. Average time to sell is about a month, so you should still expect solid demand, especially for well-priced, move-in-ready properties. My last transaction was an all-cash buyer at $1.0M for a home I had listed for sale on the North side of Awbrey Butte.

For Honest Skeptics:
If you’re cautious about market timing and curious, I’d encourage you to take a look at the Beacon Report. The numbers support a view that neither buyers nor sellers have an overwhelming advantage right now; prices and activity reflect a balanced marketplace. What I’m saying here is this: your needs, not hype, should drive your buying and selling decisions, and by reviewing current data alongside actual market trends in Central Oregon, I know you’ll make a move when it’s right for you. No sooner, and no later.

From Me…A Thoughtful Realtor:

Back to the question people are asking me: “Is now a good time to buy or sell?”

My answer, “Depends on your specific plans/goals.”

I genuinely love digging into the data, comparing your goals against current inventory, pricing, and activity, and customizing your strategy. For me and my team at Varsity Real Estate, market headlines don’t decide whether or not now is a good time to buy or sell; your circumstances do.

Ready for Clarity?

If you’re navigating the Bend or Central Oregon market, NOW is a perfect moment for a consultation grounded in real numbers, not speculation.

Reach out to discuss your situation. If you’re interested, take a look, review the Beacon Report, and chart your best path forward with confidence and clarity.

I look forward to talking with you.

Let’s get aligned on your goals for a purchase or sale,

Justin Scott

(541) 797 - 9939

Justin@varsityoregon.com

Pictured above: My 1987 F250 parked outside our family cabin in Camp Sherman, Oregon. Camp Sherman is the perfect spot for rest, relaxation, fly fishing the Metolius River, reading a book, and taking long walks. A must-visit!

Better With Age.

How a teacher and realtor found a 100-year-old bungalow in Bend, Oregon.

Get outside and take a walk.

In 2020, during the middle of a global pandemic, my wife decided to get outside of the house and take a walk. She stumbled upon a disheveled-looking old Bend bungalow with a for sale by owner sign in the front yard. She got excited about the idea of bringing an old house back to life. She took me to see the house and asked me what I thought about buying this thing.

My response was, “NO WAY!”

After the dust settled on my ‘NO WAY’, I called the number on the FSBO sign and left a message. I figured if this purchase was meant to be, then I’d get a call back and we’d explore a purchase. Crickets. I didn’t hear anything for nearly a month. Then I got a phone call.

The phone call was from an old timer who was looking to sell his old house to a family, someone who would move into the neighborhood and live there. He’d had several calls from folks who wanted to buy his house for its development potential. Something they could buy and flip, or demolish and start from scratch.

If you’re lucky in life, smart, and work hard, I believe life should get better with age. My wife and I have benefited from the help of others along the way, including our recent home purchase. There are about a hundred things that lined up perfectly for us to be able to purchase this 100-year-old home and bring it back to life. Below you’ll find the list, and I’ll stop well short of one hundred. What I’d love to do is share the whole story with you in person.

So let’s go for a walk together.

If you’d like to jump into some of the photos and restoration process, check out my wife’s Instagram feed @block8bungalow, where she has documented a large portion of our purchase and project along the way.

A LIST OF ONE HUNDRED THINGS THAT LINED UP PERFECTLY ALONG THE WAY

1. Taking a walk by the house.

2. Seeing the FSBO sign in the yard.

3. Getting aligned on the idea of purchasing an old neglected house

4. Left a message with the owner and didn’t hear back for over a month.

5. Got a call back from the owner, and set up a walk-through to check out the house.

6. Called a builder friend to see if he could join us for the walk-through, and he could.

7. He did walk through the house with us.

8. The house was old, and needed alot of work, had old knob and tube wiring, original plumbing, had been a rental for 30+ years, was a duplex with an upper and lower unit, there was alot going on with this thing, but our builder friend re-assured us that the house was solid and had “good bones.”

9. At one point, our builder friend looked us in the eye and said, “If you don’t buy this house, I’m going to buy it.”

10. Without really knowing how or what the next steps were to buy a house FSBO, we made up our minds, “We’re buying this house.”

11. Rewind a month, we’d recently sold our 1965 Aristocrat Lo Liner Camp Trailer for $4,000, so we had a little money in the bank.

12. The owner of the house was willing to carry the contract, FSBO, and be our banker.

13. We asked what he wanted for a down payment, and he said $5,000. We said, “Yes.”

14. We immediately got to work on getting our existing home for sale. We’d need to sell it to use the money to restore this 100-year-old house we were about to buy.

15. I called a realtor friend and asked if he could help me with an FSBO deal. He said yes, and printed me a blank real estate contract.

16. I filled out the contract with the owner of the house. We set the financing at 3% fixed over 20 years.

17. Our house sold in a few days, we had multiple offers, and we accepted an offer over asking price.

18. This sale left us with about $185k to work with.

19. We walked through the 100-year-old house we’d just bought for $5,000 down, again, with a plumber, our builder, and some other contractor-type folks, and they told us we’d probably need twice what we had to really complete this project. $370k? WTF! We didn’t have $370k, but we moved forward anyway.

20. Then came the work of figuring out how to rework and restore this duplex into a single-family dwelling.

21. Since our house was built in 1925, the city of Bend records and details about our house were not all on file. I spent several hours on dozens of calls with folks in the planning and permitting office. They were friendly and as helpful as they could be without having access to much info on our house.

22. We met with an architect, who tried to help, but this was a challenging project.

23. We settled with a drafting guy to get us some drawings of what we wanted to do, we paid him, but he was not helpful. If you know a great drafting person, we’d love to meet them!

24. Halfway through working with a drafting guy, we fired him.

25. We got aligned with a builder who knew a lot about old houses and was a true craftsman. Jon Lemke from Timberfram Construction.

26. We've got to work on the rework restore.

27. We’d hired Jon for four months of work, and he tackled everything we needed him to.

28. We managed and GC’d the rest of the project. Our hands were on nearly every part of the project. If we didn’t do it ourselves, we managed and hired GCs who did the work.

29. Building material costs shot to the moon at the height of our project, and we paid 3x-6x for everything. Lumber, electrical wiring, you name it, we paid a premium for it.

30. Wildfires were raging in Oregon.

31. We filled up a thirty-yard dumpster five times with junk, construction debris, and landscaping materials that needed to be removed. After we were getting near the end of needing our dumpster, I called to have it returned, and was told, if you need it again, you won’t be able to get it, they needed the thing for fire camps. So we said goodbye to our old metal friend. We were happy to see the thing go.

32. This is where my list fizzles…there are so many little things that have lined up along the way to bring our house back to glory. Let’s grab a walk, coffee, or lunch, and talk renovations and remodels.

I’ll be compiling a list of all the subcontractors, material suppliers, and vendors we have worked with on our house remodel. We have a great list of people we trust and recommend!

Justin Scott

(541) 797 - 9939

Pictured below: Many projects all happening at the same time, in this picture: jacked up the front porch, reinforced with new headers, newly replaced windows, new trim, new roof, brick demo sitting in side yard, siding repair, house numbers, exploring paint colors, all while celebrating Christmas.