Dothan Real Estate Market Report - June 2009 New Construction
June 9th, 2009 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
After a sharp increase in home starts in April, the number of permits issued for new construction homes was down to just 17 in May. That number is also down from the 23 issued in May of last year. Year-to-date, new home permits issued are down nearly 27% from the same time period in 2008.
The number of new construction homes for sale around Dothan has dropped to 236 as of this morning, down from 257 houses listed last month. However, there were only 10 sales of new construction homes in May, with an average price per square foot of $101.33, and average days on the market of 160 days. That is another drop in price, and a slightly lower number of days on market.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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Dothan Real Estate Market Report - May New Construction
May 7th, 2009 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
The number of permits issued for new homes jumped significantly in April. In fact, they were up almost three times the number from March. Twenty two permits were pulled in April, still down compared to April, 2008 when 37 were issued.
The number of new construction homes for sale around Dothan has topped 250, up to 257 houses currently listed. There were 17 sales of new construction homes in April, with an average price per square foot of $102.68 and average days on the market of 166 days. That is a slight drop in price, but a gain of over three weeks in time on the market.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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Dothan Real Estate Market Report - April 2009 New Construction
April 14th, 2009 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
So much for new home construction picking up. Granted we have only tracked this statistic since 2003, but the eight permits issued in March is the lowest monthly total we have seen. As you can see on the chart, new home starts have trended downward sharply over the last twelve months. We will have to wait another month to see if any sort of recovery can take hold.
The long term trend doesn’t look any better. New construction has been very flat over the last two years.
There are currently 246 new construction homes listed for sale in the Dothan MLS; about the same as in February. On the brighter side, there were 15 sales of new homes last month, which is up from February.The average price per square foot was $105.35 and the average days on market was 143 days.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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Dothan Real Estate Market Report - March New Construction
March 10th, 2009 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
Construction will soon start on 22 new homes around Dothan, according to the number of permits issued in February. That is a big increase from last month, and is also more than were issued in February, 2008.
The number of new construction homes listed for sale in the Dothan MLS continues to trend upward, reaching 245 listings this month. To me this means that just about all the new permits issued are becoming listings once they are completed. We have to be careful to remember that the increase in the number of permits issued doesn’t necessarily mean new home sales are picking up. In fact, there were only 11 sales of new construction homes in February. The average price per square foot was $109.84 and average days on the market was 96 days.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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Dothan Real Estate Market Report - February New Construction
February 11th, 2009 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
There were 13 permits issued in January for new homes to be built, which is coincidentally the lowest monthly figure since last January. Activity ramped up in February and March of 2008, so we will see if that happens again this year. Interestingly, there have been only a couple of permits issued where the valuation was over $300,000 in the past few months. Charles pointed out in last week’s Dothan real estate inventory report that this price range is basically dead in our area right now, new home market included.
There are currently 233 new construction homes listed for sale in the Dothan MLS, up over 7% from last month. Well over half of those listed are in the $100,000 to $200,000 price range. There were 12 sales of new construction homes in January, with an average price per square foot of $110.96 and average days on the market of 159 days.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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Dothan Real Estate Market Report - January New Construction
January 12th, 2009 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
Fourteen permits were issued in December for new homes to be built in Dothan, down just slightly from last month and December, 2007. Last year was hopefully the year the new construction market in Dothan hit bottom. The numbers from the last six months of 2008 were actually must better than the same period in 2007, with 132 new homes started in 2008 versus only 108 in 2007. Hopefully this upward trend will continue.
As you see on the chart below, we are still at the lowest level of new home starts in the past three years. We fully expect new home sales in Dothan to remain steady at current levels or slightly increase this year.
There are currently 214 new construction homes listed in the Dothan MLS, about the same as last month. The bad news this month is that there were only eight sales of new construction homes in December, with an average price per square foot of $108.60 and average days on the market of 154 days.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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Dothan Real Estate Market Report - December New Construction
December 9th, 2008 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
There were only 15 new construction permits issued in November for new homes in Dothan, but that is a full 50% higher than November of 2007. The typical winter slowdown of new homes being built is evident, but the numbers being higher than last year is certainly a positive sign.
The number of new homes for sale in the Dothan real estate market moved up during November. As of this morning, there are 230 new construction homes listed in the Dothan MLS, up from 215 last month.
There were 12 sales of new construction homes in November, with an average price per square foot of $102.28 and average days on the market of 179 days. Price per square foot was down, which likely means last months big jump was an anomaly.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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New home starts at lowest level since 1959
November 20th, 2008 - Categories: Dothan area Real Estate Market information, New construction homes in Dothan
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
From the Birmingham Business Journal-
Two key measurements of the housing market show that the sector is a long way from ending its historic slump, but the South showed slight improvement.
A new report from the U.S. Commerce Department shows housing starts reached an annual rate of 791,000 last month, the lowest level since the department began tracking starts in 1959. The October rate plunged 4.5 percent from the revised reading of 828,000 in September.
On top of that news, building permits fell 12 percent to an annual rate of 708,000 in October, breaking the previous low of 709,000 in March 1975. The annual rate for September was revised to 805,000. Building permits are an indicator of building activity in the next three to six months.
The declines last month were led by a 31 percent drop in the Northeast, where construction of single-family homes fell to a record low. Home starts dropped 13.7 percent in the Midwest, but rose 7.5 percent in the West and a 1.5 percent in the South.
Notice that the lowest decline was here in the South. Judy posted last week about the Dothan new home market, which is running along quite nicely thank you.
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Dothan Real Estate Market Report - November New Construction
November 14th, 2008 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
There were 23 permits issued in October for new homes to be built, exactly the same number as October, 2007, but down just slightly from last month. Of the 23 however, eight were for one subdivision (Ill have more on this development in a later post). Just like the resale home market here, new construction (starts anyway) is going through its seasonal slowdown.
Unlike the number of resale homes for sale in Dothan, the number of new construction homes listed has edged downward. As of this morning, there are 215 new construction homes listed in the Dothan MLS, down from 223 last month.
There were 25 sales of new construction homes in October, with an average price per square foot of $106.60 and average days on the market of 182 days. Price per square foot was up about $10 and days on the market was down by over a month. Home builders seem to have had an all around good month.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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Dothan Real Estate Market Report - October New Construction
October 10th, 2008 - Categories: Inside the numbers, New construction homes in Dothan
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
The new construction home market in Dothan seems to be steady at the moment. Another 25 permits for construction were issued in September, including four properties to be built in the new Stone Creek Landing development on South Park Avenue and one Habitat for Humanity home. Home starts in Dothan have been consistently in the 2025 per month range since spring, and this months 25 represents a 47% increase over September of 2007.
Below is a chart showing new home starts in Dothan over a longer period, going back 12 quarters or three years. It remains to be seen if the low reached in the fourth quarter of 2007 was indeed the bottom. I think we will know once we see what the market does during the last quarter of 2008.
Inventory of new construction homes on the market in Dothan moved back up in September. There are currently 223 new construction homes listed in the Dothan area MLS, up from 211 last month. The median price of these listed homes is $197,500, which is over $60,000 above the overall market median.
There were 19 sales of new construction homes in September, according to data from the Dothan MLS, with an average price per square foot of $95.45 and average days on the market of 218 days. I cant remember the last time average price per square foot on new construction was below $100, so this months figure is a significant development.
If you have an interest in building or purchasing a new construction home, give me a call or use the contact form. As a Certified New Homes Specialist (CNHS), I have extensive training in the new home market and would be happy to consult with you on your real estate needs.
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