Is 2025 the Year to Buy or Sell in Bend?

The Central Oregon real estate market has always been dynamic, and Bend continues to be a focal point for homebuyers and sellers alike. As we step into 2025, many wonder if this is the right time to enter the market or make a move. The answer depends on your circumstances, but here are some key trends and considerations shaping Bend’s real estate landscape this year.

For Buyers

Why It Might Be a Good Time to Buy

1. Stabilizing Home Prices:After years of skyrocketing growth, Bend’s home prices are leveling off. While homes remain relatively expensive, the rate of price increases has slowed, providing more predictability for buyers.

2. Increased Inventory:A rise in available homes gives buyers more options. From single-family homes to rural properties with acreage, there’s a wider variety to choose from compared to previous years.

3. Mortgage Rate Trends:While mortgage rates remain elevated compared to pre-pandemic levels, some financial analysts predict slight rate drops toward the second half of 2025, making it more feasible for buyers to secure financing.

Challenges for Buyers

• Affordability:The median home price in Bend remains out of reach for many families, especially first-time buyers. Exploring programs like RootedHomes or FHA loans may be necessary.

• Competition for Entry-Level Homes:Properties in the lower price ranges still see intense demand, often leading to bidding wars.

For Sellers

Why It Might Be a Good Time to Sell

1. High Demand for Specific Properties:Certain types of homes, such as single-story properties or those in top-rated school districts, remain in high demand, particularly among retirees and young families.

2. Price Stability:Unlike other markets that are seeing declines, Bend’s real estate market has held steady. Sellers can still command strong prices, especially if their homes are well-maintained and priced competitively.

3. Lifestyle Buyers:Bend continues to attract lifestyle buyers seeking outdoor recreation, scenic beauty, and remote work-friendly amenities. These buyers are often willing to pay a premium for the right property.

Challenges for Sellers

• Increased Inventory:More homes on the market mean sellers face greater competition, requiring strategic pricing and marketing.

• Selective Buyers:With a stabilizing market, buyers are taking more time to compare options and negotiate. Sellers may need to make concessions to close deals.

Key Market Drivers in 2025

1. Economic Trends:A steady local job market, coupled with continued population growth, supports real estate demand. However, broader economic uncertainties could impact buyer confidence.

2. Demographic Shifts:Retirees seeking single-story homes and millennials entering the market are two significant forces shaping demand.

3. Lifestyle Appeal:Bend’s outdoor amenities, strong community vibe, and remote work opportunities keep it on the map for those looking to relocate.

Making the Decision

Buyers Should Consider:

• Your financial readiness, including savings for a down payment and closing costs.

• Whether you’re planning to stay in Bend long-term, as short-term ownership may not yield significant equity gains in a stabilizing market.

Sellers Should Consider:

• The condition and appeal of your property. Upgrades or staging might be necessary to stand out.

• Timing. Listing in peak seasons, such as spring and summer, often yields quicker sales and better prices.

Whether 2025 is the right year to buy or sell in Bend depends on your goals and readiness. For buyers, it’s a time of greater choice and potential deals, while sellers can still capitalize on Bend’s desirability. The key is to stay informed, work with a knowledgeable real estate agent, and align your decisions with your financial and lifestyle objectives.

What’s your move for 2025?

FAQs

1. Are home prices in Bend expected to rise or fall in 2025?

Home prices in Bend are stabilizing after years of rapid growth. While significant price drops are unlikely due to steady demand, the market shows signs of leveling off, providing more predictability for buyers and sellers.

2. Is it a good time for first-time buyers to enter the market?

For first-time buyers, 2025 offers increased inventory and potential opportunities for negotiation. However, affordability remains a challenge, making it essential to explore assistance programs like FHA loans, USDA loans, or local initiatives like RootedHomes.

3. What types of properties are selling quickly in Bend?

Single-story homes, properties in top-rated school districts, and those offering lifestyle amenities (e.g., proximity to outdoor recreation) continue to sell quickly due to high demand among retirees and families.

4. How competitive is the market for buyers?

The competition has eased compared to the height of the pandemic-fueled market frenzy. However, entry-level and affordable homes still see strong demand, so buyers should be prepared to act quickly in those price ranges.

5. Are there any specific programs for sellers to attract buyers?

Sellers can attract buyers by offering concessions, such as covering closing costs or providing home warranties. Upgrades and staging can also make a property more appealing in a market with rising inventory.

6. What’s driving real estate demand in Bend?

Bend’s lifestyle appeal, population growth, and remote work opportunities are major drivers. Buyers are attracted to its outdoor amenities, strong community vibe, and access to recreation.

7. When is the best time to buy or sell in 2025?

Spring and summer typically offer the most activity for both buyers and sellers. However, fall and winter can present opportunities for buyers to negotiate better deals.

8. What challenges might sellers face in 2025?

With increased inventory, sellers face greater competition. Buyers are also becoming more selective, which may require strategic pricing and flexibility during negotiations.

9. How can buyers secure better mortgage rates in 2025?

Buyers can improve their credit score, shop around for lenders, and consider locking in rates early. Some may also explore adjustable-rate mortgages (ARMs) for short-term affordability if long-term rates remain high.

10. What’s the outlook for Bend’s real estate market beyond 2025?

Bend’s market is expected to remain stable, supported by steady demand and limited new construction. Long-term trends suggest continued growth driven by lifestyle buyers and population influx, though economic factors could influence the pace of change.