1. Alara by D.R. Horton- 43rd Ave & Baseline
- From $325,000-$400,000
- From 1,240- 2,678 sq ft
- From 3-5 beds and 2-4 baths
- Range from 1-2 stories with polished chrome bath accessories, hardwood cabinets, upgraded laminate countertops and smart home technology.
2. Avance by Tri Pointe Homes in South Phoenix- 7th St & Dobbins
- From $500,000-$800,000
- Most luxurious development in South Phoenix
- Gated community
- Private pool on mountains
- Private gym
- View of Downtown Phoenix
- 2000-4600 sq ft
- 3-5 bedrooms and 2.5-4.5 baths
- 3-4 garage
3. Tierra Montana by Taylor Morrison- 51st Ave & Dobbins
- $450,000-$550,000
- 2300-4000 sq ft
- 2-5 bedrooms
- 2-4 baths
- 2-3 garage
Conclusion:
- The new construction market is very competitive right now with many builders asking for the highest and best offer and drawing randomly to see who gets to purchase a new home.
- Many builders are forgoing building model homes and allowing buyers to build at design centers.
- Price of new construction has gone up every month for the past 12 months.
- Less builders are offering buyer incentives such as paying for closing costs.
- Many buyers who bought 6-12 months ago have flipped their new construction homes for a 50-75k profit in one year but have to pay capital gains on the profit since they did not reside in the property for the past 2 out of 5 years.
- Some reasons for the massive price increase include shortage of labor, lockdown of manufacturing facilities, increase in the price of building materials, low interest rates and a huge demand from out of state buyers.
- Call 480-779-8579 for more information!
