new home market overview presented to: mchenry county council of governments
TRANSCRIPT
NEW HOME MARKET OVERVIEW
Presented to: McHenry County Council of Governments
RESIDENTIAL PLANNING PARTNERS
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MARKET O
VERVIEW – M
IDW
EST REGIO
N
Source: U.S. Census Bureau
Median Sales Price of New Single Family Homes
19641966
19681970
19721974
19761978
19801982
19841986
19881990
19921994
19961998
20002002
20042006
20082010
20120
25,000
50,000
75,000
100,000
125,000
150,000
175,000
200,000
225,000
250,000
275,000
Midwest U.S.
MARKET O
VERVIEW – M
IDW
EST REGIO
NSource: U.S. Census Bureau
New Home Sales (000’s) – Midwest Region
19641966
19681970
19721974
19761978
19801982
19841986
19881990
19921994
19961998
20002002
20042006
20082010
20120
25
50
75
100
125
150
175
200
225
Peak to trough drop = 78.7 percent.
MARKET O
VERVIEW – M
IDW
EST REGIO
N
Source: U.S. Census Bureau
Annual Housing Starts (000’s) – Midwest Region
19641966
19681970
19721974
19761978
19801982
19841986
19881990
19921994
19961998
20002002
20042006
20082010
20120
50
100
150
200
250
300
350
400
MARKET O
VERVIEW – M
ETRO CH
ICAGO
Source: U.S. Census Bureau & Residential Planning Partners, LLC.
Single Family Permit Issuances – First Six Months 2012 & 2013
County
Kendall 108 186 +72.2
Kane 314 483 +53.8
McHenry 132 194 +47.0
Will 288 414 +43.8
Lake 195 273 +40.0
Cook 417 560 +34.3
Kenosha 57 76 +33.3
Grundy 25 31 +24.0
DuPage 354 421 +18.9
De Kalb 27 19 -29.6
Metro Area 1,917 2,657 +38.6
Change(Percent)2012 2013
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
0.0
2.5
5.0
7.5
10.0
12.5
15.0
17.5
20.0
MARKET O
VERVIEW – M
CHEN
RY COU
NTY
Source: U.S. Census Bureau & Residential Planning Partners, LLC.
Single Family Building Permit Trends – McHenry County
Average: 1,935
Building Permits Issued (Bar) Percent of Metro Region (Line)
(1)
(1)seasonally adjusted, annualized rate.
MARKET O
VERVIEW – M
CHEN
RY COU
NTY
McHenry County New Home Market Snapshot(1)
Source: Residential Planning Partners, LLC.
(1)Includes only active production-oriented new home developments.
Attribute
No. of Programs 14 5
Total UnitsPlanned 1,420 678Remaining 612 282
Avg. Plan Size (Sq. Ft.) 2,347 1,755
Avg. Base Plan PriceWhole Dollars $254,083 $226,242Per Sq. Ft. $108.26 $128.91
SingleFamily
Attached(DU/ 4P/ TH)
MARKET O
VERVIEW – M
CHEN
RY COU
NTY
Most Active McHenry County New Home Developments(1)
Source: Residential Planning Partners, LLC.
(1)As measured by current construction volumes, surveyed 9/25/13.
ProductCommunity/ Program Builder Municipality Type
Talamore - Landmark & Hartford Ryland Huntley Single Family 19
Talamore - Townes Ryland Huntley Townhome 15
Lion's Chase D.R. Horton Huntley Single Family 10
Sweetwater Centex Woodstock Single Family 9
Talamore - Andare (Active Adult) Ryland Huntley Ranch Villa 8
Lakes of Boulder Ridge Plote Homes Lake in the Hills Duplex 8
Maples at the Sonatas - Cathedral (Active Adult) Epcon/Wilcox Woodstock Four-Plex 5
Maples at the Sonatas - Courtyard (Active Adult) Epcon/Wilcox Woodstock Single Family 4
UnderConst.
Units
THE RO
AD AH
EADThe Road Ahead: Trends to Watch - McHenry County New Home Market
1. Continued robust production volumes in southern and central McHenry
County, particularly along the IL-47 corridor.
2. Investment by larger builders in dormant developments.
3. Strengthening demand fundamentals overall, including accelerating job
growth and a return to more normal levels of household formation.
4. New land acquisition, particularly by top builders, and increasing
movement into McHenry County.
5. Increasing demand for housing forms geared toward Millennials and
Seniors.
6. Increasing longer term development potentials as land depletion and
price escalation continues in “closer in” locations of Cook and DuPage
counties.
THE RO
AD AH
EADGeographic Delineation: Active New Home Developments by Top Builders (1) – Metro Chicago
(1)Locations are approximate. Circles are not meant to signify a specific geographic radius.
Source: Residential Planning Partners, LLC.
RESIDENTIAL PLANNING PARTNERS