On a national level, single family construction is up 25% in the last six months. Like much of the country, York County is experiencing a strong increase in new construction. With interest rates at historic lows and an increase in consumer confidence, buyers are taking advantage of special incentives offered by many new home builders across the country today.
This trend is certainly evident in the York County Housing Market. Building permits were up from 180 to 245 for first quarter 2012 compared with first quarter 2011. That represents a 36% increase over the same time period last year. Tremendous land values coupled with historic low interest rates are enabling builders to offer new home buyers some of the most affordable home values in years. David Weekley Homes has already sold 25 homes in York County’s popular Baxter Village which matches their total number sold in 2011.
Saussy Burbank has enjoyed tremendous success in the regions newest multi-use development, Riverwalk. When completed, Riverwalk will be the largest neighborhood between south Charlotte and Columbia. Saussy Burbank has completed their model home in Rivrwalk and already has 17 home sales.
Evans Coghill Homes has a model home under construction and the model will be completed by the end of August. Alan Banks, one of the partners of Evans Coghill Homes believes that with the proximity to Charlotte, low taxes, great schools and good land values that Riverwalk is poised to take over the success that Baxter Village has enjoyed for many years. Riverwalk will offer amenities never before seen in Charlotte and Evans Coghill is poised to make Riverwalk a major part of their business plan for the next five plus years.
If you are in the market for a new home, now is a tremendous time to purchase. Builders have negotiated low land prices, they are offering extremely attractive incentives and interest rates are near all-time lows. If you have further questions about York County or the housing market in general, call me, I can help.
Cheers!
Ben Bowen
