Saturday, May 24, 2014

Bend Population Growth Fastest in State

The population in Bend Oregon grew 2.9% from 2012 to 2013 according to census estimates recently released.  Bend's population is estimated to be 81,236 as of July 1, 2013 and it looks to continue if you look at the real estate market.

Another interesting statistic is that baby boomers no longer represent the largest segment of the population.  There are currently more 22 year olds in the United State than any other age.

The Bend real estate market is reflecting the growing population.  I'm finding there are more retired couples moving to Bend than in recent history.  This is putting a high demand on single level homes and homes with the master suite on the main level.

Prices of homes in Bend are also going up.  Prices last year went up approximately 12.9% and it looks like they are going up even more this year.  The cost of new construction has gone up close to 20% and there is shortage of moderately priced lots.

New home construction is booming once again.  One reason prices are going up is that there is a shortage on subcontractors available.  The cost of labor is going up as well as the cost of materials.

A client of mine is building a single level home in Awbrey Glen which is a very nice gated golf course community on the west side of Bend. It has a triple car garage and looks like it will be priced around $750,000.

I built a passive solar home last year and my builder tells me it would cost about 15% more to build it this year.   I paid $45,000 a few years ago for my lot and the lot 3 doors down just came on the market for $99,500 and I'm told it has a very good offer already.

So, once again the Bend is growing and our real estate prices are going up.  Now is the time to buy.  You know the old saying "you snooze you loose."  Give me a call, text or email and let me know how I can help you find your new home in Bend.

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