Millennials are flocking to Bend, Oregon, drawn by its balance of outdoor adventure and a laid-back, community-focused lifestyle. We spoke with Matt Robinson, Managing Partner of The Agency Bend, to explore which areas of this Central Oregon city are particularly appealing to this generation of buyers. From proximity to mountain biking trails and trendy coffee shops to thoughtful home designs that prioritize flexible functionality, Bend offers Millennials the perfect blend of recreation, connection and value.
What neighborhoods in your respective regions/neighborhoods are attracting Millennial buyers most right now?
The West side of Bend retains the original “ski town” charm and is consistently the most sought-after location for young, active buyers looking to move to Central Oregon. It is the gateway to the Cascade Lakes Highway, providing easy access to mountain and road biking, skiing, boating, fishing, hiking, whitewater rafting and more. Northwest Crossing, Discovery West and Tetherow are very popular westside communities. Recent years have seen an uptick in ultraluxury westside communities such as Tree Farm, Westgate and Tanager.
What do you think is attracting them to these areas?
Central Oregon remains relatively affordable considering the quality of life it provides with its outdoor amenities an community “vibes”. The west side comes at a price (higher prices compared to other parts of Bend), but our largest feeder market is from the California market, who still can find value in what they get for their money on Bend’s west side.
What makes Millennial buyers different from other generations of buyers?
I’ve found Millennials to be very thoughtful when it comes to the purchase of a home. From considering the efficient use of the home’s square footage to accommodate their personal needs/wants to the location working for their lifestyle (access to trails, proximity to coffee shops/bakeries/etc, walkability of neighborhood, etc), they tend to factor in much more than just a home’s finishes and price.
Where do you see Millennial buyers coming from in your respective regions?
They are typically moving from larger metropolitan areas and looking for a quieter, slower pace of life while still being part of an active outdoor lifestyle and maintaining access to world-class restaurants, concerts, arts and more.
When it comes to owning a home, what amenities do Millennial buyers prioritize?
Home office, loft/flex areas, space for a Peloton/exercise/yoga/meditation. There’s also a desire to see the separation of living areas (i.e. a bonus room and great room), where kids can be isolated while adults relax, or vice versa. Large garages and large walk-in closets are also a big plus for Millennial clients.
What are your predictions for Millennial buyers in your real estate market? What can we expect to see this year and into the future?
I think we’ll see more and more Millennials begin to come into more wealth, whether through selling companies they’ve worked hard to build, or inheriting estates from their parents. This doesn’t necessarily mean they’ll be purchasing larger homes but will see a lot of upgrading to larger land, more amenities, higher-end finishes and things like that.
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