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What is the Cost Per Sq Ft? | Chatham County New Homes

Posted by Penn Hull on Thu, Oct 06, 2016 @ 17:10 PM

Chatham County New Homes within the Triangle Parade of Homes:

Thirty new homes were submitted as entries in Chatham County in the Durham Orange Chatham Parade of Homes 2016, out of 65 total entries.  Two are in Cary, fourteen in Chapel Hill, and twelve in Pittsboro. 

What do homes cost to build in Chatham County?  We've calculated the average cost per sq ft for homes entered into the 2016 Parade of Homes.  Here's what we found:

Cost Per Sq Ft | Chapel Hill Area New Homes

 



What does a new home cost to build in Chatham County?

A lot of factors can impact the cost of a new home, including: floor plan type (one story, main floor master, two story), finishes and features, the type of lot, and the cost of the lot itself.  These new homes do not represent the entire new home market in Chatham County, but do represent all Parade of Homes entries in Chatham County.

1. One Story Homes* - Cost per sq ft for Chatham County Home Builders

$451K
2596 sq ft
$173.81/sq ft

One story homes tend to be smaller, because as the square footage increases, it makes more sense to build upward.

Chart.jpg

2. Main Floor Master - Cost per sq ft for Chatham County Home Builders

Including Luxury Estate Homes, two Parade entries over $1 million:

$693K

3858 sq ft

$179.72/sq ft

 

Excluding the Luxury Estate Homes over $1 million:

$614K

3518 sq ft

$174.58/sq ft

 

Excluding Luxury Homes over $700K:

$536K

3328 sq ft

$161/sq ft

  • Main floor master homes, as the best of both worlds, are favored by both luxury and mid-range home buyers.
  • Excluding Luxury Homes "levels the playing field" and helps show a more direct comparison to One Story and Two Story homes.

3. Two Story - Cost per sq ft for Chatham County Home Builders

$424K

2918 sq ft

$151.16/sq ft

  • Two story homes are the most cost effective. 

Cost Per Sq Ft | Chapel Hill Area New Homes

What does this mean for homebuyers in Chatham County?

Parade of Homes entries generally represent what builders believe homebuyers are looking for today.  What kind of features are YOU looking for in a floor plan?

Check out hundreds of possibilities, including top-requested one story, main floor master, and two story plans, here:

Cost Per Sq Ft | Chapel Hill Area New Homes

These custom homes are move-in ready, or nearly available, in Chatham County. Click the address for new home cost and more information:

Brookhaven Way – 3144 Sq Ft – First Floor Guest Suite – Move-in Ready Home 

129 Brookhaven Way – 3358 Sq Ft – First Floor Master – New Home Under Construction

152 Brookhaven Way – 3474 Sq Ft – First Floor Master – New Home Under Construction


(*NOTE - excluded a one story home with finished basement as an outlier.)

This is representative only of the homes featured in the Parade of Homes, and not intended to be a general indicator of the Chatham County new home market, though Parade of Homes can be representative of overall trends.  These statistics were derived by Penny Hull from public information about Parade of Homes entries, and are copyright Stanton Homes.  

 

Tags: Triangle Parade of Homes 2016, parade of homes 2016, orange county home builders, orange county new homes, chapel hill area homes