Kinney Aug 2025 Bend Oregon Real Estate Newsletter

by James Kinney

JULY 2025 BEND OREGON REAL ESTATE NEWSLETTER

Enjoy A Scenic Video Tour of Sparks Lake In Summer

Greetings From Bend,

It's the end of July and we are having a spectacular summer in Central Oregon. I hope you've had a chance to enjoy some of it.

In this month's newsletter I break down a new trend developing in our real estate market; more home inventory and softening prices. I also feature a stunning property in Bend, take a look at development news, share some of my Central Oregon landscape photos with you, provide a restaurant spotlight, and have the latest edition of GG Magazine.

I actively watch the real estate market every day and continue to see opportunities for sellers and buyers with market conditions shifting to a more balanced position. Careful analysis of any property is crucial to a successful sale or purchase and this is something I focus on to bring value to my clients. To see active listings, CLICK HERE or scroll down to search and dream a little.

Bend is on an upward trajectory and our community continues to grow and develop in vibrant and exciting ways. After 22 years, I still love this place and will continue to live, play, and work here serving clients with my experience, market knowledge, integrity, and hard work. Thanks for following along with me and please reach out if you have any thoughts, ideas, or questions about real estate and living in Bend and Central Oregon.

Mid-Year Market Report

The Bend real estate market has seen a mix of trends in the first half of 2025. While sales volume increased, indicating continued buyer interest, the market also saw a decrease in median sales price in June, an increase in inventory, and a longer time to sell homes. This suggest a market that is shifting towards a more balanced state between buyers and sellers.

Key Market Trends

Median Sales Price: The median sales price in June was $692,950, a 11.8% decrease year over year. Although this statistic is often the most reported on, it is also the most variable due to the price level of homes sold each month. When more higher priced homes are sold as a percentage to the total the median price will skew higher. When comparing Jan-June 2024 and 2025 totals we see the median price increased from $740,000 to $755,000 (2.0% Increase). June 2025's notable decrease is a trend we will have to continue to watch in the coming months.

Sales Volume: June saw a two-year high in sales, with 169 homes sold, up 15% from June 2024.

Active Listings: Active listings climbed to 644, a 42% increase from the previous year and the second-highest number in the last 10 years.

Pending Listings: There are currently 315 pending listings so buyers are still purchasing homes, just at a more discerning pace.

Price Per Square Foot: The median price/sqft decreased 10.1% to $388 for the overall market. Although individual areas and neighborhoods vary greatly, all experienced a similar trend.

Inventory: Home inventory has increased to over a 5-month supply, which is more than anytime in the last 7 years. This is creating a shift to a more balanced market and a better environment for buyers.

Luxury Sales (homes over $1 million) cooled down in June , with only 18% of total sales being in this price range.

View Current Listing Data at the ALTOS REPORT View June Closed Sales Data at the JULY BEACON REPORT

Galveston Corridor Improvements and New Development

The commercial corridor of Galveston Avenue is scheduled for major improvements to the infrastructure and a redevelopment of the Boss Rambler property. This bustling corridor is lined with many popular businesses for locals and visitors. But the aging street and inadequate facilities for people who bike and walk can cause traffic delays and create potentially hazardous conditions for the traveling public.

The City of Bend is addressing these and other issues with the Galveston Corridor Project, a comprehensive redesign of the street that will start in late 2025. These improvements will help make Galveston a complete street, one that is designed, operated, and maintained to enable safe, convenient and comfortable travel and access for users of all ages and abilities regardless of their mode of transportation. Connect to the city of Bend's Galveston Corridor Project HERE.

New owners of the property where Boss Rambler sits on Galveston Avenue on Bend’s west side have plans to replace the beer and coffee bar with a new two-story commercial building.

Boss Rambler announced earlier this year its plans to close at the end of the summer. RSM Investments, a development group with a portfolio of historic remodels in downtown Bend, closed on the Boss Rambler property earlier this month. The group recently purchased the “Bend Bakery” building next door, which houses Sunriver Brewing and the Bosa restaurant. “We love Galveston, and we love the look of Galveston,” said owner Rick Mikesell. “When we had the opportunity to buy the last piece of that block, which was Boss Rambler, we jumped at the opportunity.” Mikesell said he also plans to expand the Bakery as part of the block’s renovations.

The new Galveston Supply building is intended to complement the Bakery building next door, Mikesell said. It will feature a gray exterior with a second-story terrace and an outdoor plaza for dining and eating, plus new landscaping out front.

Read more at: https://bendbulletin.com/2025/07/24/two-story-commercial-building-planned-for-boss-rambler-lot-in-bends-galveston-corridor/

FEATURED HOME

62737 NW Mehama Drive

This beautifully crafted Prairie-style home offers an open floor plan with the primary located on the main level, a chef's kitchen with a large quartz island, custom cabinetry, and a commercial-style range. Enjoy seamless indoor-outdoor living with a covered patio and built-in BBQ. Upstairs includes two additional bedrooms, a full bath, a large versatile bonus room, and a bright storage room with windows. An oversized two-car garage with built-in storage completes the home. Set in a desirable neighborhood on a cul-de-sac, this property combines style, space, and quality craftsmanship in an unbeatable location. VIEW FULL LISTING HERE.

SEARCH CENTRAL OREGON LISTINGS

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LOCAL RESTAURANT SPOTLIGHT

CAFE SINTRA - DOWNTOWN BEND

A casual eatery where comfort meets culinary creativity, offering a diverse menu that satisfies all appetites. Featuring a diverse selection of comfort food classics and globally inspired dishes, breakfast here is one of the best in Bend. Know for a variety of original takes on Eggs Benedict, you will be treated to a European style cafe and coffee that rivals the streets of Paris.

Cafe Sintra Website

FEATURED PHOTOS

I love Oregon's natural scenic places and capturing them with my camera. This month I share a "Road To Beauty", an "Oregon Coast Sunset", "Campfire Magic", and "Sparks Lake Meadow and Mt. Bachelor" (One of renowned Oregon photographer Ray Atkeson's favorite places). Enjoy and click the link to view and download full size images. They make great screen savers!

View The Gallery and Download Images

EVERYTHING THAT'S HAPPENING IN BEND AND CENTRAL OREGON

Bend, Oregon, is not just a destination; it's an experience. Whether you're a local or a visitor, Visit Bend's event calendar is your gateway to a world o unforgettable moments. Thrilling outdoor adventures that embrace Bend's natural beauty to the bustling cultural scene that pulses through the city.

GG is an independent magazine with top quality entertainment value. Architecture, lifestyle, fashion, design, yachting, luxury, travel… We scour the globe for the most exciting topics and most fascinating personalities, and invite you, dear reader, to come along for the ride. GG is a premium magazine featuring entertaining, well-researched stories. Meet the prominent architects, illustrious designers and distinguished artists everyone is talking about, and gain an entirely new perspective on their life and work. Read the new GG Magazine online. Just click on the link below and have a flick through. Of course GG Magazine is still available at your Engel & Völkers Bend located on Wall Street in downtown Bend.

Digital Copy - Read it here!