We love Bend! And if you own a home, you may love what has happened with Bend real estate values even more! During 2015, the average price of a Bend single family home increased 11.1%. Bend homes have consistently been increasing in value since 2011, when the average price of a Bend single family home was $240,128; today Bend's average home is almost $386,000. If you bought your home anytime in the last 5 years, you most likely have seen an increase in your home's equity. What has caused this? People have continued to move to Bend; we all love the lifestyle - from the many brew pubs to the amazing outdoor recreational opportunities and the beautiful, clean environment, good schools and fabulous parks! But while people in abundance continue to move here, the amount of homes being built has not kept up with the demand. At the start of 2015, there were 3.5 months supply of Bend homes for sale; at the end of the year there were 2.8 months - a balanced housing market has 6 months supply. At Bend Premier Real Estate, we cannot find homes for all our buyers. Those properties which hit the market are quickly snatched up and multiple offers have driven the sales price even higher. If you have ever considered selling your Bend home, now may be the best time for you to put your home on the market.
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