I spotted the ad at right on the Seattle Times homepage yesterday. It’s not as patronizing as Quadrant Homes’ old “down payment latte” ad was, but the claim of buying for just $800 a month immediately jumped out at me as unlikely. Running some quick numbers through my Simple Affordability Calculator indicates that to have…
Tag: new-construction
New Construction Price per Square Foot On Par w/ Resales
A reader requested that I run an update of the post I put together a year ago: Is New Construction Getting Cheaper or Just Smaller? Here are the updated charts comparing the size and price per square foot of new construction and re-sales since April 2009: As you might expect, new construction continues to be…
Is New Construction Getting Cheaper or Just Smaller?
Yesterday in response to the story about the vanishing new construction price premium, reader “nwerner” commented: You should also do your analysis on a per SF basis if you haven’t already. The square footage of new construction has dropped considerably, in the range of 20 to 25 percent. Your second comment, re: lower lot prices…
New Construction Price Premium Nearly Vanishes
I was playing around with the sales data I’ve downloaded since April of last year when I noticed a noteworthy trend in the sales of new construction. If you split each month’s sales into new construction and re-sales, then look at the median prices of each group separately, an interesting pattern emerges. What I’ve plotted…