Bend 2015 home sales soar near pre-recession high

The results are in, and the number of homes sold in Bend last year were the highest seen in nearly a decade, broker Rob Eggers said Thursday.

The year closed out with nearly 2,500 sales, up 9 percent from 2014, said Eggers, a broker and partner with Duke Warner Realty.

“Bend has been through so much with the housing recession,” Eggers said. “You know, we were one of the hardest hit in the entire nation. So to see Bend rebound the way it has is really incredible.”

Eggers has been in the business since 2002, so he’s seen the rise and fall of the High Desert housing market.

Comparing 2010 to 2015, there was a nearly 50 percent increase in home sales. And that’s not the only number skyrocketing.

“The median home price in Bend during the recession, say in 2010, was about $190,000,” Eggers said. “T oday it’s over $300,000. So it’s right around a 70 percent increase since the recession.”

In fact, Eggers said the Bend area’s median home price is back to about what it was a decade ago.

Eggers added that the desirable location, coupled with low inventory levels, likely will cause home prices to continue their uphill climb. Good news for sellers, but not for buyers.

“If you look at the main segment of our market, say from $225,000 to $400,000, we only have a month and a half of inventory in that segment,” he said.

According to Eggers, that very low inventory will keep the home-buying process competitive in 2016, resulting in homes selling very quickly and for more money.

How you feel about that probably depends on which side of the market you’re on.