Gilead Ridge subdivision homes sales are a hot spot in a relatively soft market in Huntersville NC.
If you want to see what new homes are selling in this slow market, check out the Dorchester and the Summit series.
The Dorchester is a popular model in Ryan Homes' Gilead Ridge neighborhood in Huntersville. The Summit series accounts for more than a third of sales in Pulte's Sun City Carolina Lakes in Lancaster County south of Ballantyne.
They're strikingly different. The first offers lots of square footage for young families stretching tight budgets. The second appeals to active retirees drawn by the lifestyle as well as the home's layout. But they might be the most popular new-home models in the Charlotte market.
They're top models in the most active neighborhoods by the builders that ranked No. 1 and No. 2 in permits for the second quarter of this year.
That's a snapshot, of course. One measure of activity, taken at one moment in time. Construction and sales numbers rise and fall. In April-June, though, Ryan pulled 103 permits and Pulte was close behind at 93.
Overall, Mecklenburg single-family permits were down 44 percent in the second quarter, compared with a year ago, an improvement over the 62 percent drop in the first quarter.
Gilead Ridge, off Gilead Road west of Interstate 77 Exit 23, has been popular with young families since it opened, said Kathy Tucker, Ryan's general manager for Charlotte. It still is.
Prices for single-family homes start in the low $200,000s. The neighborhood offered townhomes, but that phase is sold out.
The most popular models at Gilead Ridge include the Pinecliff and the Dorchester. The Dorchester is the larger of the two. It starts at $239,990 for 2,920 square feet and, with upgrades, the average Dorchester finishes at about $299,900.
The most popular options for the four-bedroom Dorchester include a bonus room and sunroom, along with hardwood floors, large kitchen islands, upgraded cabinets and granite countertops, Tucker said.
The credit is due to expire at the end of November, although the nation's builders are pushing for an extension and the Obama administration has said it would be willing to consider that. Just this week, the National Association of Home Builders estimated that the credit has accounted for 200,000 additional home sales across the country, along with 187,000 jobs.
Today, about one-third of buyers are newcomers, and most of the rest are from nearby towns such as Huntersville, Cornelius and Mooresville.
Families choose the neighborhood for the amenities - pool, clubhouse, athletic fields - and its easy access to I-77, Birkdale Village and Northlake Mall.
And because they feel they're getting good value. "The homes finished with upgrades are averaging $80-$85 per square foot". Large homes typically sell for less per square foot than smaller homes, and the Dorchester is spacious. Lot size and other factors impact cost, and builders are offering the best deals they can manage. Huntersville real state averages over $100 per square foot.
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Mike Carpino
Mike@LakeAndTown.com
704 301-9264
