Real Estate Appraisal Blog

New Versus Resales Gap

Mon, Mar 04, 2019 at 10:52AM

Prices for Homes in the newly developing subdivisions continue to rise as the labor market is tight and tariffs have raised prices on many materials and appliances.  Average new construction prices increased 11% from 2017 - 2018, from $132/SF to $146/SF.  Generally, In the Volusia Market area new home prices range from  $125.00 - $200.00 per square foot.  New homes are still available in the Deltona area for around $100 per square foot.  

The average price for resales, likewise is increasing with an average price per square foot of $125 for the last half of 2018.  This trend is expected to continue through 2019.  Check out this article from Metro-Study

https://www.metrostudy.com/new-versus-resales-gap-way-will-go-2019/

 

Jim Cooksey

 


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