Competition Among Buyers Pushes Bend Homes' Values To Rise

The Bend real estate market is still crazy with the buyers competing with each other due to low housing inventory. Because of the buyers’ competition, there is a month-to-month and quarterly home value growth not seen since 2005, according to Zillow. There is now a total of 7.4% increase in Bend home value this year than that of October last year. That would make today’s Bend average home value to be $442,464. Consequently, this rise in home value is evident in homes selling over their asking price.

Why now is the best time to buy?

Today’s Bend buyers are very eager and determined to have their own home. Why? According to the latest Rent Index released by Zillow, there was a 2.2% rise in rent in Oregon, making it $1,681 today. That is the very reason why buyers want to purchase their homes now, especially with the low mortgage rate. Renters are thinking that if they would buy their homes now, their monthly mortgage payments will be lower than their present rent.

Also, home values are to rise drastically next year. 2021 is predicted to be the strongest year for sales, thus home values will surely be higher than that of today – making it more difficult to land your dream home.

Best time to sell your home? Now is the answer!

With the buyers’ competition and rise in home value, selling your home in today’s market will surely be of benefit to you. You ask me why? It’s because, with the buyer’s determination and perseverance, they would really give their best offer to be able to compete with others’ offers, even if it means purchasing the home over the asking price.

This holiday season will also be another factor to consider in selling your home today. Your home’s curb appearance will be more enhanced with the decorations, hence, you will attract more buyers in putting their best offer into your home.

Bottom Line

Due to low mortgage rates, Bend homebuyers will experience more accessible and affordable monthly amortization/mortgage payments. In line with this, a Bend buyer’s agent will come in handy. Agents will help in matching you with the perfect property much faster, making it worth hiring them. Not only that, they will also help you in doing negotiations and come up with the best possible outcomes.

On the other hand, with the rise in today’s home value, Bend home sellers could enjoy selling their homes at their best price. To be successful in doing so, an expert Bend seller’s agent will be of use.

With today’s high-demand market, it would be the best time to both sell and buy your Bend home. To be successful in both transactions, you need a Bend home expert beside you. Let’s connect today so I can guide you in the home buying and selling process. Feel free to reach out anytime at 541-306-3139. Would love to help you buy and sell your Bend home!