Bend, OR Sees 372% Surge in Million-Dollar Home Listings

Bend, Oregon, a city recognized for its outdoor recreation and unique attractions, has witnessed a significant rise in high-value real estate, with luxury buyers acquiring homes priced above $1 million. The city, celebrated for its skiing and hiking opportunities, also boasts distinctive features such as a tavern with trees growing indoors and the world's last Blockbuster video store. This appeal is increasingly drawing affluent individuals who have the flexibility to reside anywhere.

A Realtor.com® luxury housing spotlight report indicates that Bend is no longer the understated destination it once was, noting a substantial increase in properties valued at over seven figures. In May 2026, Bend saw 723 homes priced at $1 million or more enter the market, a stark contrast to the 153 listings recorded in May 2017. This represents a 372% surge, with the trend accelerating significantly during the COVID-19 pandemic, particularly in 2021.

While property values in Bend had been steadily increasing since 2017, the local luxury market has experienced exponential growth. As of May 2026, the median listing price in Bend reached $709,900, significantly higher than the national median of $429,500, indicating a premium of approximately 65%. The disparity is even more pronounced at the upper end of the market. Since 2017, Bend's luxury threshold, defined as the top 10% of market listings, has increased by over 80% to roughly $1.8 million, surpassing the national luxury threshold of $1.28 million.

Many small cities located near urban centers experienced substantial price increases during the pandemic as residents sought more space, recreational access, and fewer restrictions. However, numerous such destinations have since seen these gains diminish. Bend, in contrast, which experienced a more rapid price escalation than the national median, with luxury prices climbing over 67%, has retained 89% of those gains. This resilience is a notable difference compared to many other markets, such as Denver, where luxury thresholds saw a peak increase of nearly 33%.