The North Bend real estate market continued to show strength in May 2025, with data from the Northwest Multiple Listing Service revealing steady growth and shifting dynamics for both buyers and sellers.

The median sales price in North Bend, WA climbed to $796,250, a 7.7% increase over May 2024. This upward trend suggests that buyer demand remains solid, even as the broader market sees some softening. For homeowners, rising values signal strong equity growth and continued confidence in the local housing market.

Inventory is expanding, giving buyers a bit more breathing room. There were 45 new listings in May, a modest 2.3% increase from the previous year. More notably, the total number of homes for sale jumped 42.1%, reaching 54 active listings. This growth in inventory contributed to an increase in the month’s supply of homes—now at 2.2 months, up from 1.8 months a year ago. (Month’s supply refers to the number of months it would take to sell all current listings if no new homes were added.)

While the market is still leaning in favor of sellers, the rising supply and small dip in buyer activity are signs that conditions are beginning to balance. On average, homes for sale in North Bend spent just 5 days on the market, a day faster than last year, showing that well-priced listings are still moving quickly. However, showings per listing fell to 4.1 from 5.9, indicating that buyers are being more selective—possibly influenced by affordability concerns and interest rate volatility.

Mortgage rates have added complexity to the picture. This week, the average 30-year fixed rate dipped to 6.89%, according to Bankrate. While that’s a welcome shift from recent peaks, uncertainty remains. Some forecasts, like Fannie Mae’s, predict rates could drop to 6.2% by year’s end, while others, like the Mortgage Bankers Association, expect them to stay closer to 6.6% through 2025. These differing predictions underscore the importance of locking in a favorable rate when possible—or preparing to refinance if rates drop further.