While the average home price in Bend, Oregon sits at around $529,000, there are a wide variety of homes and rental options available in all kinds of price ranges. However, some knowledge of the real estate in Bend can be a huge help: Here are a few things everyone should know when starting their search for a home in the Bend market.
1. Know the Type of Home You Are Looking For First
Bend has many different property types depending on what you are looking for. There are condos, single-family homes with small yards, townhouses, more rural estates with space, secluded cabins and cottages, farmhouses, and more. That’s why it’s very important to start by thinking about the type of home you would be interested in purchasing based on your lifestyle. Think about a type of home and a price range, then you can narrow down your search in Bend to the right neighborhoods.
This is also a good time to think about amenities and the physical location of your home. Do you want to live surrounded by trees? Do you want easy access to the high desert, or are you more interested in being close to the heart of the city? Are mountain views important to you? Every decision you make can help speed up the process!
2. Be Prepared to Act Fast
The real estate market in Bend continues to thrive – but that can also pose challenges for buyers. The latest numbers we have from July 2020 show that, year-over-year, average single-family home sales prices are up around 12%, pending sales are up 153%, and sold homes are up about 31%, even during this pandemic. This flurry of activity and the associated general conditions of 2020 also mean that the number of new listings and overall homes for sale are down.
This creates an extremely competitive market for those buying a home in Bend. The best way to deal with this is to be prepared to act fast. That means making decisions about sales offers and counter offers as soon as you can. If you find a property that really seems ideal to you, you may not want to wait around before setting the purchase process into action. Also, the more cash down you can offer, the better your chances to win the most sought-after properties.
3. Find an Experienced Realtor or Relocation Service
You don’t want to waste time to trying to figure out the right neighborhoods to search or find that the by the time a property appears in an online listing offers have already been made on it. That’s why it’s important to find a realtor or work with a relocation service that knows experienced realtors that have worked in the area for years.
4. Home Prices Can Vary (Somewhat) By Region
Home prices in Bend don’t vary as much as they do in some areas, but there are differences in how similar homes are priced depending on the neighborhood. Generally speaking, the homes closest to the Deschutes River (and primarily throughout the center and northwest parts of Bend) have the highest prices. The further you move away from the river and central location – especially towards the south – the more affordable options are generally available.
5. Think About Shopping Around In the Fall
It can be easier to move around the city, carry out home inspections, meet with realtors, and other tasks before the winter snow and ice arrive in the city. As a result, many sellers try to get their properties off the market before the holidays, when things slow down. This makes fall a good time to look for home deals or enter into negotiations – and it’s usually not as busy as the spring real estate rush.
Remember, Bend Relocation Services can help make the home buying experience faster and more pleasant as you get ready to move to Bend. Contact them to see what they can do for you.