Find the Sweet Spot - Market Analysis

[Devin James]

Every month, we like to analyze all of our markets across Central Florida. We focus on two main data points:

1) The pending to listed ratio for newly built homes sized between 1,400-2,400sqft.
2) The pending to listed ratio for newly built homes listed between $250K-$475K.

These two data points help us understand the demand for new construction homes in terms of size and price.

Here's some data from Marion Oaks (Ocala, FL) that we pulled today....
- There's an average of 1.5 months of inventory for homes between 1,400-2,000 sqft. This average jumps to 3.5 months for homes between 2,000-2,400 sqft.
- There's an average of 1.7 months of inventory for homes priced between $275K-$325K. This average goes up to 2.5 months for homes priced between $325K-$375K.

Find the sweet spot in your market(s) and get to work!!!

[Devin James]

@Marie C. SaintVil Expect the project to take significantly longer than expected.

For example, in two different markets, we expected the permitting time to take 2-3 months and construction time to take 6 months. Our permitting took 6 months and the construction took 8 months. This can kill a a project if you don't have flexible financing.

Also, try to have multiple exit strategies. If you aren't able to sell at the price you want, then try to see if it makes sense to refinance and rent it out.

Don't hesitate to reach out via DM if you have any additional questions. Happy to help you through this process!!