Sales and Resales in 2008

This has been a slow year for sales at Heritage Shores. Of course, it has been a slow year for sales everywhere when compared to 2005 when the first homes were sold and occupied in this community. Even compared to 2007, when there were 77 homes sold at Heritage Shores, 2008 has provided a great opportunity for buyers.

When times get tough, builders get creative. In good times, premium lots can command a big premium. In lean times, those premiums disappear and upgrades can be negotiated. Because of that, many buyers believe they can get a better deal by negotiating with the builder rather than by looking at resale homes in the same community. In a new community, a resale is only a couple of years old and may be in a prime location that is not available with new construction in the current phase.

Looking at the actual year-to-date sales at Heritage Shores, I found the following statistics:

  • Four (4) new attached homes sold at an average sales price of $293,754
  • One (1) attached resale was sold at $229,900
  • Fourteen (14) new single family homes sold at an average sales price of $368,336
  • Four (4) single family resale homes have sold at an average sales price of $328,750

What do these numbers indicate? You might be able to find the best opportunity in a resale home. To find out which is best for you, have your Buyer Agent show you resale homes as well as new homes in any community you’re considering.