Home Lot Sizes Shrink to New Low

Home Lot Sizes Shrink to New Low
National Association of Home Builders    article by Daily Real Estate News | October 5, 2017

Lot sizes on new single-family homes have reached a new record low. New homes sold in 2016 had a median lot size of 8,562 square feet, or slightly under one-fifth of an acre.

The median lot size fell to under 8,600 square feet in 2015, according to the Census Bureau’s Survey of Construction data. Lot sizes have continued to shrink since then.

Location plays a big role. For example, the median lot size in the New England region is nearly twice as large as the national median, exceeding a third of an acre.

“New England is known for its strict local zoning regulations that often require very low densities,” the National Association of Home Builders notes on its Eye on Housing blog. “Therefore, it is not surprising that more than half of single-family spec homes started in New England are built on some of the largest lots in the nation, with more than half of the lots exceeding a third of an acre.”

On the other hand, the Pacific region—where densities are often high and developed land is more scarce—has the smallest lots. Half of the lots in the region are under 0.15 acres.

NAHB graphic_lot sizes

Source: “Lot Size Is at a Record Low,” National Association of Home Builders’ Eye on Housing blog (Oct. 3, 2017); REALTOR® Magazine Online, Daily Real Estate News 100317


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
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Report: Homes Show Decades of Upsizing

Report: Homes Show Decades of Upsizing
realtor.com    article by Daily Real Estate News | June 5, 2017

Despite growing consumer interest in tiny homes, most homeowners still opt for bigger properties. Over the past few decades, home owners have been adding bedrooms, bathrooms, and extra square footage to their homes, according to the U.S. Census Bureau’s 2016 Characteristics of New Housing report.

In 1980, 64 percent of new single-family homes had three bedrooms, and the median sales price was $64,600. In 2016, 50 percent had four or more bedrooms—the largest share on the market—and the median sales price was $268,900. Owners are adding bathrooms, too: 52 percent of new single-family homes in 1980 had two bathrooms, while 59 percent had three or more in 2016.

The overall square footage of homes is on the rise as well:

SF Trends image

Source: “Just About Everything’s Getting Bigger – Including Homes,” realtor.com® (June 2, 2017); REALTOR® Magazine Online, Daily Real Estate News 060517

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address