This article was originally posted on DothanHomeSearch.com
There is nothing else to say about the new home market here in Dothan other than it is flat. New home starts continue to be low and the number of new construction homes on the market is at an all-time high. There were 21 new residential construction permits issued in June, down from 23 in May and June of 2007.
Here is the trend over the last twelve months.
Inventory of new construction homes on the market remains steady. There are currently 221 listed in the Dothan area MLS, up slightly from last month. The median price of these listed homes is $199,900, over $60,000 more than the overall market median which is around $135,000. Average days on the market is 196 days.
Is the long-term trend any better? Maybe. The new home market in Dothan hopefully bottomed out around the first of this year.
What does all this information mean to you? If you are in the market for a new home, then you have a lot of choices and some bargaining power, especially in higher price ranges.
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.