Something is happening in our market. In the past year or so, we’ve had a number of new homes in the Serra Meadows Development come onto the market.
These homes are very nice, and have been taking up virtually half of all home sales each month.
A similar trend recently occurred with a condominium development called Avivo. It was difficult for those selling condos to stand up against these Avivo condos.
But let’s get back to today. Right now, we’ve got the largest increase of new home construction I’ve ever seen in my 26 years of business.
Toscano and Righetti Ranch both have a massive number of homes already for sale or coming soon to the market. There are many other developments as well. Avila Ranch has 720 new homes planned and San Luis Ranch has 580 new homes planned.
Between all of these developments, there are 1,920 potential new homes coming on the market in the next couple of years.
So, what does this mean? Last year we saw 600 homes close. This year we’ve had about 424. This means that those 1,920 potential new homes would amount to about three years’ worth of inventory.
So, if you’re considering a real estate transaction in the next six, 12, or even 18 months, you may want to let us help. We can answer any questions and help guide you through the process.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.