Several threads on this subject were started back in September 2023. A few posters noticed homes sitting empty in Denham and Dabney. In January, many of us counted 250+ homes with new price reductions. It was very easy to find. On VLS, the homes now had bright red reduction prices. The 100 that remain still have the discount rate in bright red. As for Moultrie Creek, you can do a drive by or go on VLS. 200+ homes are available. This number goes up every week.

Historically, an average of 400 preowned homes were available on MLS and approx the same amount on VLS. (+ or - a few) Today, both sites are over 600 .

With a large amount of new homes built in the south, a rise in inventory was to be expected. The problem? The average amount of buyers has not increased. This is causing the large inventory. IMO, This is not likely to change anytime soon.

Correct, Chitty Chatty was tough, it was isolated and lots of power lines along with the main golf car path to the bridge going through it they gave heavy discounts to complete that village and probably celebrated when it was finally sold out.

Craig,
Thank you for the insightful statistics. Two questions as noted please.
1) Do you, or others on this site, know how many homes approx the villages builds per month?
2) Also, what is the number of homes available for sale via the Villages listings at this time?
Thank you

I can answer the inventory on hand question.

VLS = 903 homes
MLS = 627 homes

Good Day Grandpap,

I am not sure how many homes are built by TV in a month but the number of available new builds is usually kept at around 300 ready for sale spec homes. The VLS currently has 604 preowned and 299 new built active listings for sale.

Numbers
 

Roughly 1,100 VLS includes New and Pre-Owned (excludes lots)
Roughly 740 MLS includes Redfin, Zillow and Homes (excludes FSOB)

Accurate statement.

I didn't break down the new to preowned, so let's say 1200 preowned combined VLS and MLS. Now if we take say 240 homes sold per month, we are looking at 5 months of inventory, which is about average. That's at the high end of "average" and considering where we've been over the last 3 years, this is a concerning trend.

I wonder if the buying frenzy when interest rates tanked might have something to do with it, how many people sitting on the fence were then inclined to jump in, how much did that shrink the pool of buyers?

They've been averaging around 50 - 60 new builds a week.

The Villages New Home Sales: 2003-Present | Inside the Bubble

With over a billion dollars in new home revenue annually, carrying a few hundred homes in inventory is noise from the Developers financial perspective.

Irrelevant
 

The thread is about excessive inventory, it doesn’t matter either way how the developer is affected does it? It has to do about the housing market and the inventory boom across the entire state. There are record setting numbers in some areas and the numbers are climbing, not going down.

Thanks for this info.

The same 3-4 posters keep popping up in these threads, insisting "gloom and doom"...

They must take some sort of perverse pleasure in doing so...

They're bordering on becoming our favorite "Climate Change/Buy EVs and save the planet" poster...

The concern is rising inventory. Over the past few months, the Developer had to sell hundreds of homes at a discount price. He has not been immune to this trend. It appears the majority of closings have been on discount homes and folks cherry-picking premium lots in Moultrie Creek. The remaining homes are sitting in that area and the amount is starting to rise. If this continues, he will be forced to reduce the price. Anyone looking for a home in the Eastport area should wait.

How is anyone enjoying rising inventory? It affects ALL homeowners in a negative way. Would you rather posters drink kool aid, put on a pair of rose-colored sunglasses, and pretend the inventory is not rising? The posters did not create this problem. They are simply discussing a situation THAT DOES EXIST. It is not going to go away if posters remain silent.