For the last eighteen months or so we have seen new construction inventory slowly being absorbed. Builders (wisely) halted many of their planned new starts; offered enticing incentives and made aggressive price reductions in order to get many finished product off their books.

An encouraging sign for the Maple Valley housing market can be found in a few new recently listed projects. Although these are "presale only" inventory (which means the builder will not start the house until an offer is signed around) the fact that money is flowing again and builders have the ability to get these projects moving forward is step in the right direction.

Of course, builders have to adjust their product to what's in demand, and right now that's first time home buyer (aka affordable) price ranges.

If you're thinking about buying a home from a builder, it is wise to bring your own agent with you to the site and help you negotiate the contract.  An experienced agent  will be able to help you with lot selection....looking at the pros and cons for resale down the road as well has help you determine points of negotiation with the Builder. Many times the builder will ask that you use a proprietary contract, which is very much slanted in the seller's favor. It's a good idea to have someone looking out for your best instead of the the builder's bottom line.

Here's what's going on today with residential New Construction in Maple Valley:

Currently 52 Active Listings:   Average List Price: $375,534

Currently  20 Pending Sales:   Average List Price: $304,189

Last 6 Months: 13 Closed Sales:   Average Sales Price: $333,931

Notice the higher number of pending sales. These reflect the Presale inventory which will stay pending for the roughly 6-7 months it will take for the builder to complete the home. These homes were listed within the last few months and are being well received by buyers who can wait on a finished product.