Inventory and Sales - homes, condos, lots

[AAbsolute]

Doesn't that mean we have over 9 years of vacant land inventory listed as of today?

 

[30ashopper]

Wouldn't home sales recover first before land? I'd think people would be shopping for good deals on homes rather than buying up lots with a build out restriction. Once homes start to dry up, lots become more popular. That's just a guess though, not sure.

This also might explain why the median for lots is down 50%, while the median for homes is only down about 38%.

edit - also worth mentioning, looking back to 99, it seems lot inventory is always pretty high, and it's interersting to note that lot inventory usually exceeds home inventory, but right now home inventory is higher. So whatever kind of dynamic that's usually in place is flipped.

 

[30ashopper]

Josh published all the graphs nitty gritty here -

http://activerain.com/blogsview/725901/Destin-Market-Statistics-and

 

[MissSunshine]

Build vs Buy

Hi, I'm new to this site and maybe the information is already out there, but I'm trying to figure out if it makes more sense to build or buy a house already built? With the market changing, it's hard to know what is recommeded. We're looking at sites in the 200,000 to 300,000 dollar range and wonder what the construction costs are per square foot. Any advice would be greatly appreciated!

 

[AAbsolute]

Hi, I'm new to this site and maybe the information is already out there, but I'm trying to figure out if it makes more sense to build or buy a house already built? With the market changing, it's hard to know what is recommeded. We're looking at sites in the 200,000 to 300,000 dollar range and wonder what the construction costs are per square foot. Any advice would be greatly appreciated!

Real pricing for new construction, well thought out buildings 10-7-08:

Rosemary Beach $175 per ft.
Seacrest Beach $150 per ft.
Alys Beach $165 per ft.
Watersound Beach $175 per ft.
Watercolor $165 per ft.
Seaside $175 per ft.

 

[traderx]

Wouldn't home sales recover first before land? I'd think people would be shopping for good deals on homes rather than buying up lots with a build out restriction. Once homes start to dry up, lots become more popular. That's just a guess though, not sure.

This also might explain why the median for lots is down 50%, while the median for homes is only down about 38%.

edit - also worth mentioning, looking back to 99, it seems lot inventory is always pretty high, and it's interersting to note that lot inventory usually exceeds home inventory, but right now home inventory is higher. So whatever kind of dynamic that's usually in place is flipped.

The other reason could be that existing homes are more attractive to investors because of cash flow potential.

 

[miaandsashasmom]

Real pricing for new construction, well thought out buildings 10-7-08:

Rosemary Beach $175 per ft.
Seacrest Beach $150 per ft.
Alys Beach $165 per ft.
Watersound Beach $175 per ft.
Watercolor $165 per ft.
Seaside $175 per ft.

What do you mean "real pricing"?

 

[AAbsolute]

What do you mean "real pricing"?

10 to 12 percent profit margin for a builder not artificially inflating costs.