By: Walter Bialas
We have an interesting resource that allows us to look at new home lot development across the metroplex.
The map below, created by Analyst Stephen Lopez of our Geographic Information Systems team, provides a good visualization of the activity across our northern suburbs, which is a major hot spot in our region.
Right now, there are 87,500 lots targeted to come on line – under construction, approved or planned. For homes that have been recently finished, the pricing is pretty rich with averages coming in at $390K to $690K and up. The good news is that of these recent completions, a quarter are priced as “starter homes” which are listed under $250K.