New Construction Sales. How Existing Home Sales

This is the most common question that I get from property owners in the Grande Dunes that are thinking of selling or having a problem selling at this time. This month, I want to share the MLS Data that shows you the activity levels of New Construction versus Resales. Currently, there are 49 Resales on the market for sale in the MLS and 10 New Construction homes for sale in the MLS. So, the inventory for resales is much higher than new construction.

According to the MLS, there have been 70 sales closed year to date and 38 were resales and 32 were new construction. We would hope to see more resales selling considering how many of them are listed for sale compared to the builders inventory. There are a total of 24 homes in pending status right now in the MLS. This means they are under contract waiting to close. 18 of the pendings are new construction and 6 are resales.

The good news is that homes are selling in the community. The challenge is that new construction sales are outpacing resales which is causing some homes to sit on the market for a long time remaining unsold.

One thing we know with certainty; If you have a resale home that you are thinking of selling or you‘ve had a hard time selling in the past, you have to make sure the home is marketed aggressively or you could lose a lot of your prospective buyers to the newly constructed homes. Let me know if you would like to learn how your home needs to be marketed to get it sold.