“By NPG DataQuest 5/18/12”
The number of vacant developed lots within single family subdivisions dipped below the 9,000 mark to 8,903 in the 7 county Greater Cincinnati/Northern Kentucky region. Since December 31, 2011 there has been a 5.1% decrease in inventory. The lot supply has decreased by 32% since NPG DataQuest began tracking this statistic in December of 2008.
The limited development of new lots this spring accounted for the larger than normal drop in inventory. Only 59 lots were added within existing subdivisions and one new subdivision consisting of 8 one acre lots named Redbird Meadows was paved in Clermont County. We expect to see more lots developed over the summer as 12 locations were actively being developed the first week of May with more to be started in the coming months. Most are extensions to existing developments however, two new developments: Virginia Place the site of the 2012 CitiRAMA in Northside as well as a large scale development in Mason called Willow Brooke should both be open this summer/fall.
NPG DataQuest offers permit and closing information by school district, political jurisdiction, MLS area and zip code. In addition, on the ground activity is tracked for over 900 active subdivisions providing lot and home inventory status. For more details on this information, contact Maureen McDermott at (513) 404-6481.