What is the price point of sales in your market? What inventory would sell in your market? If you were to recommend to a builder the size, style and price of a home they should build in your market, what would that look like?
In my market the average price of an active listing is 339,000. The average sale price of a home in my market is 210,000. There is a shortage of inventory in the lower price range where sales are occurring. Sales in the price range of the average active home (over 300,000) are very slow.
Based on what is selling and level of inventory, I would recommend to a builder to consider a home with smaller square footage and fewer amenities such as granite and tile in order to meet the needs of the market.
I believe in the current climate buyers would consider a smaller, more basic home which may be up-gradable in the future, over a dressed-up home with thousands of dollars of fancy finishes. In this market I believe items such as expensive carpet, bronze rubbed fixtures and granite counters are not as important as price. Price is driving the market and buyers may be willing to accept a more basic home which meets their price. Formica countertops and vinyl flooring served well for years, and it is possible they may be making resurgence in the future.