Orange Chatham Durham Parade of Homes 2016 Trends:
The Triangle Parade of Homes can give home buyers some interesting insight into the SIZE and COST of new homes, usually with some upgrades inside and out.
So what's the latest trends for parade home size and cost per sq ft? We've analyzed the data, and here's what we found:
What's Going on with New Homes in Chatham County? Average Cost Per Sq Ft
Main Floor Master homes were the most popular floor plan layout selected by home builders for entries available for viewing during the Triangle Parade of Homes in Chatham County.
1. Average Price for All Homes - $575,565 for Parade of Homes Entries in Chatham County
- Taking the two Parade homes that were priced at over $1 million out of the calculations, the average price goes down to $530,771.
2. Average Size for All Homes - 3384 for Parade of Homes Entries in Chatham County
- Removing the two million plus homes, the average size is 3179 sq ft.
3. Let's do the math on these Parade of Homes Entries in Chatham County
- Calculating the value of a home by the cost per sq ft is tricky business. The entries in Parade of Homes are not fully representative of the available homes for sale in Chatham County, but are just a sampling. Factors that affect price per square foot for any new home for sale can include, but are not limited to: cost of the lot, cost of the preparation of the lot and permits, the style and size of the plan chosen, and the finishes and features. Every builder includes different items in their "base prices", versus what is included in a Tour home.
- Average cost per sq ft (including lot / homesite) is $167/sq ft
- Adding the two million plus homes within the luxury price point, average cost per sq ft is $171.
What does this mean for homebuyers in Chatham County?
Parade of Homes entries generally represent what builders believe homebuyers are looking for today, as well as representing beautiful samples of home builders' work. What size of home are YOU looking for? What's your price point?
Get more information on new home pricing, here:
More Triangle Parade of Homes 2016:
The Parade of Homes runs for two more weekends in October. This weekend, you can Meet the Build Team. Find out more here.
