If anyone says that they predicted our current real estate market correctly two years ago when Covid was spreading faster than a forest fire, we’d love to meet them. If we can go back to April/May of 2020 and be objective, we must be able to recall our country’s state, rightfully? Everything was closed, and scientists were scrambling to understand this virus. Our red-hot economy was tumbling, and nobody had any conclusive answers on the pandemic.
As people began leaving significant cities in droves, the burbs became hot hot hot – with many Baby Boomers deciding to take advantage of the prices increases and retire a bit early. This created a significant trickle-down effect on real estate in Coastal North Carolina. We were already experiencing a voracious retirement market here, but our inventory of new and resale homes was depleted in no time at all.
Carolina Plantations opened in March of 2007, and for years Doug has been touting that probably 60-70% of our client’s “build” their dream home down here. Why, you ask? Because our clients have the time and want their homes to build to their specifications, not someone else. However, when the pandemic struck, and home building prices shot through the roof (get it?), we figured that home building would slow down. Au contraire, it didn’t.
Even with the building costs up 20-30%, give or take, people are still opting to build as much today as they were two years ago. What is driving this is the lack of inventory of resale and new spec homes on the market. What we do have, though, is a supply of homesites that are just sitting there waiting for our clients to come along and place a home on them. Mind you, some of the communities are void of new or resale homesites while other communities are flush.
Let Us Help You
The team at Carolina Plantations has been working hand in hand with a myriad of builders in Coastal North Carolina for 15 years. We know where the homesites are and which builders might be the best to help you build your dream retirement home. Contact us today, and let’s get this party started!
Call us at 910-755-7557 or send an email over to Doug at Doug@carolinaplantations.com. We have long-standing relationships with the following leading builders in Coastal North Carolina. Don’t get outbid on a home or ten, BUILD your retirement home!!