Villages Q4 Market Update
 

Q4 results.

End of year sales update was discussed in a recent thread. To summarize: Sales were down 23% from the prior year. In January, the developer reduced the price of 250 new homes. Many lots were reduced in price, as well.

2022 4th Qtr

New Closed 2022: 3749, average price $418k

Used Closed 2022: 2364, average price $ 478k

Q4 Market Update 2022

It appears the price reduction is working. The inventory seems to be shrinking.

Great! It looks like the last one or two weeks saw solid sales. Lots of inventory still remains. Over 400 new homes in Denham and Dabney. Enclave lots are still sitting and Moultrie Creek doesn't seem to be faring much better. Patio Villas, Courtyard Villas, and Verandas are selling the best. Maybe, the next wave of buyers prefer privacy over size.

I would put PV and CYV in the price point category. Veranda’s have been up and coming for many, I just am not a fan of plastic walls, but beats kissing lanai

Some of the veranda's have walls on only 2 sides plus the gate and the rear has open fencing with a water or marsh view, they are very nice if you have a dog that you want to let run but that could also be a problem if you have a neighbor letting his/her dog out that happens to be a barker or if they don't pick up the poop.

1-26-24
Inventory of
new construction is at 422 on 12-1-23 it was 346
preowned VLS listings 495 on 12-1-23 it was 427
Zillow (MLS)... listings 472 on 12-1-23 it was 422

Inventory is steadily going up not down.

Getting ready for the snowbirds.

The reductions by TV on new homes has made many preowned 100k more expensive than equivalent. As existing owners have a desire/need to sell they will take a reduced price or be forced into the short-term rental market. I hope I am wrong because it will reduce the quality of life for residents.

I looked at the new homes that are pending. Quite a bit more than the past few months. But, yes. The remaining inventory seems to be quite large. It has been this way since September.

100% Agree.

why
 

Why do they send us that I mean you have a house so who cares. Well looking around at all the cheaper housing & apartments building up all around maybe they are trying to convince me it's getting overbuilt and start thinking about Texas again. Doesn't look like the amenities are keeping up with their CHEAP infrastructure invest going south

Quite interesting numbers. Thanks for posting this.

If there is a water or marsh view, then there could be a GATOR waiting to greet that dog that is running loose

Preowned has usually been much higher since “07” so not much change there. Many buy different home here, keep 1or 2 as rentals, so usually not forced into rental.

But I can tell you by experience two of our homes sold with tenants in place quicker than an empty house for us in TV. Many buyers are still working, and nothing is better than guaranteed cash flow on a house with no worries of finding a tenant on their own.

I can't figure out why they send this to existing home owners either. Other than maybe word of mouth to their friends. But with the internet, its just as easy to see what's available than not. . .

hoomans. . . i guess

Sales in my area have picked up. Maybe the price reductions have helped, and holidays being over. During Nov/December there were usually about 8 under agreement. One would sell, another come under agreement.

For January there are now 15 under agreement. This is just one little part of Lake Denham. Of course, all the view sites were gone long ago.

https://i.imgur.com/Zs8b4iRl.png

Marketing.

It's amazing information...............like no other place in the USA.

Sharing the good news.

:BigApplause:

Yes, “Word of mouth to their friends” that’s what got me to look and buy here! The internet is just not the same motivator as a friend’s glowing testimonial!
And it goes on and on, because I’ve also shared my positive experiences with friends!