Well... It's been a while since new construction homes have been a big part of the Bend real estate market. From the end of 2007 through 2011 we didn't see much activity in new construction sales (except for Northwest Crossing). But with home inventory shrinking in Bend, builders saw an opportunity and have capitolized. Everywhere I go I see new homes going up. And they're not just being built, they're selling! Almost all of the partially developed subdivisions in Bend are seeing building activity.
New Construction Market Review for Bend
Currently there are 107 new construction homes active on the market. These homes are found in all parts of Bend. Here is as quick breakdown of the current inventory available and a chart of active, pending, and sold sales data.
Pending Sale activity for new construction in Bend
91 pending sales of new construction homes
$322,566 average pending price
1983 average square feet
$160 average price per sq ft
Sold new construction sales data
241 new construction homes have sold in 2012
$300,371 average sales price
1891 average square feet
$156 average price per sq ft
$112,315 was the cheapest new construction home sold in Bend this year
$1,200,000 was the most expensive new construction home sold in Bend this year
Summary for New Construction Homes in Bend Oregon
If you're looking to buy a home in Bend, you should look into buying a brand new home. A new home gives you the opportunity to include upgrades that you desire. I think we'll continue to see new home sales grow throughout the coming few years.