Perhaps signaling a growing optimism in the Bend housing market the developer of Northwest Crossing is taking the first steps for potential expansion of the highly-successful west side community.
West Bend Property Company LLC, an affiliate of Brooks Resources, has filed an application with the City of Bend that would allow the currently 700-home project to grow by an estimated 200 lots on 93 acres west of Mt. Washington Drive.
The build-out would essentially fill out the master plan of 483 acres. At present there are approximately 200 unbuilt lots now approved in the existing project on the east side of Mt. Washington.
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| New homes could be built on 93 acres shown in the upper left corner of the Northwest Crossing site map. |
At the peak of the market in 2006-2007 period most new homes in the popular neighborhood were pre-sold and built by memers of the developer’s “builders guild.” As sales fell off the developer offered lots for sale to “retail” buyers, which was followed by increasing activity by several builders.
Even with the depressed market homes completed in each year from 2010 through 2012 accounted for significant percentages of total sales.
In 2012 there were a total of 114 single family homes sold, 64 of those built in the 2010 through 2012 period. The median price for all homes sold in Northwest Crossing in 2012 was $388,250 and $406,450 for those built the same year.
The all-time high median price for a full year reached $575,000 in 2007, before dropping to $373,000 in 2009. It rose to $377,000 in 2010 and fell slightly to $372,950 in 2011 before increasing to $388,250 in 2012.
By comparison the median price was $220,000 for all sales of Bend single family homes on less than an acre in 2012.
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