New construction continues to demonstrate strength. New homes
represented 11% of all residential sales in Bend Oregon so far this year, up from 8%
in 2011. The new construction segment posted a 52% increase in the number of
homes sold over the same period last year. This rise is indicative of a matching rise in building permits in April, which was the second best month for value (129 permits valued at $27.9 million) in a four-year survey compiled from county
records by Amerititle.
The Bend Oregon neighborhood of NorthWest Crossing continues to define itself as a strong sub-market
with an average sale price 56% above Bend as a whole. Builders are active in
the neighborhood but steady sales are keeping inventories low.
Figures below were derived from Central Oregon Multiple Listing Service
numbers for homes on less that one acre in the Bend area stretching from Tumalo
to Alfalfa.
Bend area residential 2012 2011 Pct.
(Year to
date, except as noted)
Active residential listings
5/1/12 432 509 -15.1%
Number of residential sales 583 535 +9.0%
New construction sales 67 44 +52.3%
Average sale price $236,232 $225,771 +4.6%
Average price per sq ft 119 114 +4.4%
NorthWest Crossing 2012 2011 Pct.
(Year to
date, except as noted)
Active residential listings
5/1/12 30 52 -42.3%
Number of residential sales 31 19 +63.2%
New construction sales 17 13 +30.8%
Average sale price $368,564 $406,502 -9.3%
Average price per sq ft 195 198 -1.5%
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