The average homeowner gained $56,700 in equity in 2021 alone, according to Keeping Current Matters. That is a seriously large number within just one year. And, depending on the value range of your home, there’s a good chance your equity grew more than that here in Central Oregon.
What has the last two years done to your home’s equity?
We have seen appreciation rates as high as 20% over the last 2 years (2020 and 2021). A home worth $600k in the start of 2020 may be worth as much as the mid 700’s. But let’s look at the math a bit closer:
2020 starting value $600,000
Times that by our estimate of 20% over the last 2 years
That puts an approximate current value on the home of $720,000!
Which works out to an appreciation of about $5000 per month over the last 2 years.
Maybe you have no plans to move or don’t think you could if you wanted to – I won’t fight with you on that, because you are probably right. But, if you are curious about your property’s value or want to see what you may be able to do in today’s real estate market, reach out. We would love to provide you with current information so you can make informed decisions, no cost no obligation.