Duke Warner Realty
2256 NW Eastes St, Bend, Oregon 97703Email Me
I've lived in Bend since 2010, yeah not very long. But in that time we've seen a lot happen. 2010/11 saw prices bottom out with median home price losing ~50% from 2006 highs. Fast forward to 2017 and Bend median home prices are hot on the heals of 2017 prices. We consider real estate to be cyclical with an overall upward trend. Bend has always been considered super cyclical, higher highs and lower lows but this could be changing. In the past the Bend market had huge real estate fluctuations because it was primarily considered a ski town. There were more second homes than your typical small city and less job diversity. However that appears to be changing. More and more new Bend arrivals come with job in hand and more and more of these jobs are telecommuting jobs. Also the Bend job market has continued to diversify with more and more tech and education jobs being created. As OSU-Cascades continues to grow so should both of these trends.
Bend has been discovered by the national media ( I don't know how many "Top Ten" lists of seen Bend). If demand continues to stay high it's hard imagining Bend real estate prices dropping significantly. There'll continue to be ups and downs but we have to think that the market will be more stable than it has been in the past.
This is a super simplification please feel free to call me or drop me an email if you want to talk more