Northwest Crossing resale listings are set to crush it this year.
If you live in Bend, visited Bend, or browsed Bend real estate chances are you are aware of the popularity of the Northwest Crossing Neighborhood. “NWX’rs absolutely love the charming mixed architectural design, neighborhood parks, nearby schools, and bustling neighborhood district. One can settle in to their quiet neighborhood and have everything they need all within a few blocks distance while still having access to Bend’s bustling downtown and the Deschutes National forest, both just a few miles away.
The demand for the “NWX” lifestyle is incredibly high and over the past few years buyers have benefited from rather robust inventory driven by resale homes as well as an additional release of new phases including those surrounding the iconic Dicsovery Park.
So by now you are probably asking….so what is so different about NOW compared to the incredible demand the area has experienced over the past several years? The answer…the neighborhood is about 99% complete, meaning there are no new phases to release, and outside of a few remaining spec homes set to hit the market new construction will soon be at a standstill.
So how will this impact the supply of available homes? In 2018, just over 120 homes sold in Northwest Crossing. New construction accounted for approximately 40% of homes sold. As we approach spring, there are just a handful of these homes left. The demand for this neighborhood is just as hot as ever and with a massive reduction in available inventory in process, homeowners looking to sell this year will be in the drivers seat like never before.
How long will this last? With the recent expansion of Bend’s Urban Growth Boundary, Brooks Resources is hard at work planning out Discovery West, a new 645 parcel community that is currently in planning phases. Although press releases list 2019 as when sales will begin, it is very unlikely that homes will be move-in ready into 2020.
For the NWX homeowner who has been waiting back waiting for the perfect time to sell, the stars have aligned and 2019 is your year!