The Insight Development Group is planning to begin building a new single-family and condominium development in Mequon in 2009. The Orchard Glen development will include 12 single-family homes and 38 condos on 39 acres of what was formerly a tree farm on Wauwatosa Road. Prices for these Mequon homes will range from $379,000-$490,000, well below the average market value of $800,000 to $1.5 million in the Mequon real estate market. These homes will cater to the first time buyers and "empty-nesters" (buyers looking to downsize from the larger homes they raised their children in). Those people with unlimited financial resources continue to build, since they can get more for their money as the high-quality builders are hungry for work. As a result of home builders in many areas of Wisconsin delaying construction of single-family subdivisions, a need for entry-level housing has arisen. The Insight Development Group hopes to meet that need in Mequon.
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- Topic: Real Estate Market Trends