15 Month Supply of Developed Single Family Lots in Top 65 Tri-State Subdivisions

Posted By on May 27, 2010

It is interesting to look at the top ten developments in each county to see what percentage of the starts they have generated.  Applying the annual starts to the remaining lot inventory provides a “month’s supply” of developed vacant lots.

For the 7 county greater Cincinnati area, the top 10 developments in each county generated over 50% of the sales activity for the last twelve months in 5 of the 7 counties.   Boone, Campbell, Hamilton and Kenton counties have at least an 18 month supply of lots remaining within those communities.  The top 10 developments in Butler, Clermont and Warren counties contain approximately 10 to 13 months of supply and will soon be depleted of developed lots.

County Number of Starts  Last 12 months Starts in Top 10 Dev. Last 12 months*** Percentage of overall starts Number of Vacant Lots Months Supply of Vacant Lots  
Boone 385 218 57% 327 18  
Butler 506 202 40% 168 10  
Campbell 86 57 66% 100 24  
Clermont 433 310 72% 262 10  
Hamilton 246 124 50% 242 23  
Kenton 258 156 60% 288 22  
Warren 585 228 39% 247 13  
**** Top 5 Developments in Campbell Co.      

 

Looking a little more closely at Clermont County we see the top 10 developments accounted for over 70% of the starts for the last 12 months. Five of these developments alone accounted for 52% of the overall starts in the county.  These same 5 developments have only a ± 6 month supply of developed lots with no potential for additional development.  

There are a few underperforming developments within the county that can help pick up the slack if re-energized with a new builder or repositioned with new product or price to fill the void in the near term.  If demand stays constant and builders want to maintain an aggressive sales pace, new lots will need to be developed.  However, as inventory falls, will homes prices rise enough and will financing be available to allow for the investment in land development?

Please contact us for more detail behind these numbers as well as how NPG DataQuest and its team of experts can help you with your next project.

Information provided is based on the single family new construction subdivisions tracked by NPG DataQuest.  For more information go to http://www.NorthPointeGroup.com or contact Maureen McDermott at 513-404-6481.  Although we strive for accuracy, we assume no liability for the information in this report.

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As the people behind Potterhill Homes, we have some pretty strong feelings about energy efficiency and green building. And we don't always agree! But we are commited to building a best homes we can and bringing you along on our journey to figure out exactly what that means! Thanks for checking out our site. My Google Profile+

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About Potterhill Homes

Cincinnati-based Potterhill Homes is a premier builder of affordable, environmentally friendly homes in Greater Cincinnati. Our homes are built with traditional Cincinnati architectural styles and are perfect for both urban infill and suburban development. To learn more about Potterhill Homes,visit www.potterhillhomes.com.


About the authors

As the people behind Potterhill Homes, we have some pretty strong feelings about energy efficiency and green building. And we don't always agree! But we are commited to building a best homes we can and bringing you along on our journey to figure out exactly what that means! Thanks for checking out our site. My Google Profile+