Demand remains strong in NorthWest Crossing
Days on the market are down, median price is up. Yes, the sales statistics from May emphasize the continued desirability of the NorthWest Crossing neighborhood of Bend.
The average days on market for a NorthWest Crossing home sold in May was 61 days. That is the third-shortest time on record for that statistic (taking into account only those months with at least five homes sold). The 61 days is right about half as long as the average DOM for the Bend, Oregon, real estate market as a whole in May. The average days on market in NorthWest Crossing for every other May dating to 2010 has been at least 90 days.
Ten houses in NorthWest Crossing were sold in May, compared to the historical average of 8.4 in May.
The median sales price in May was $710,400. That’s the second-highest median price for any May, surpassed by the $730,750 of May 2006 (when two houses were sold). May 2019’s median price was also 19.2 percent more than the median price in May 2018, when a similar number of homes (nine) were sold in that month.
The year-to-date median sales price for NorthWest Crossing is $640,310. That is 42 percent more than the year-to-date median for the overall Bend market ($450,000).
NorthWest Crossing real estate activity crossed an unprecedented price threshold in April and May. In each of those months, for the first time, a home sale topped $1 million. The $1 million threshold was first reached in NorthWest Crossing in July 2017. April and May this year are the earliest in any calendar year that any sale has reached seven figures.
Sales in NorthWest Crossing (as in the broader Bend, Oregon, real estate market) typically rise in the summer months. So an increase from the 10 homes sold in May can be expected. If you’re interested in learning more about the opportunities in this growing area, or if you’re considering selling your home, I am confident I can help. I am a longtime resident of NorthWest Crossing with deep of knowledge of the neighborhood. Please contact me at (541) 383-1426 or visit Bend Property Search to connect with me through my website.