West of the Trail: NEW CONSTRUCTION

In the last year or two you will notice a LOT of new (spec) homes being built.

The Southside area has had the MOST new construction, with 17 available homes either completed or under construction now and 23 that have sold since the beginning of 2015. The average $/square foot SOLD for new construction in Southside has been $383, only 2% off the asking price.

In the Museum Area, only 4 homes are new (pre-construction or waiting for a contract) for an average of $383/square foot list price and only 1 sold in 2015 for $277/square foot sold price.

In the Oyster Bay area, we're seeing a trend of larger and more luxurious homes being built with an average of $440/square foot. Since the beginning of 2015, 8 new construction homes have sold, most of which were the DR Horton/Emerald Homes and averaged $228/square foot.

I suspect that now that there are new construction homes just sitting on the market in Southside, builders will slow down their business, however, given that MOST sales West of the Trail happen in the summer, we'll most likely see half of those homes available get sold to families trying to get their kids into the elementary school! Just watch!

Feel free to call me directly at (941) 350-2243 for any information on New Construction! Liz

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