NorthPointe Group Real Estate Development and Investment

Increase in High End Home Construction

2010-09-03 18:03

This week while driving the 9 county region visiting 900 subdivisions, the NPG DataQuest drive team has noticed an increase in the construction of higher end homes. We will have more details in the coming weeks about our drive but we thought this was an interesting observation.

We reviewed our permit report and queried information on homes permitted with an estimated cost above $300,000. This cost is submitted by the permit applicant and generally reflects cost to build a home, minus lot and profit expenses. Our data shows 333 permits were pulled in that price segment for January through July of this year.

Of those, 174 were from the Cincinnati four counties--a 37% increase over the same period last year. For the nine county Cincinnati/Dayton area there has been an average of 53 permits pulled each month since March 2010 with an estimated cost over $300,000.

This year the top producing subdivisions in this cost bracket are Villa Grande in Campbell County, Spring Meadows and Wagner Trace in Greene County and Cypress Ridge in Warren County.

NPG DataQuest offers permit and closing information by school district, jurisdiction, MLS area and zip code, as well as providing on the ground activity tracking for 900 active subdivisions. For more information, call Maureen McDermott at (513) 404-6481.

NPG DataQuest Evaluates School District Price Points

2010-08-27 11:19

Of many factors taken into consideration when deciding where to buy or build a new home, school district is given heavy weight. NPG DataQuest tracks all residential new construction projects by school district, and this week we took a look at the 5 school districts in the Cincinnati 7 county region with the highest median new home price, as well as the five with the lowest median new home price.

School districts that had fewer than 5 closings were removed from the sample to prevent the data from being skewed, leaving 32 school districts for analysis. The top five were all above $300,000 in median price, and the bottom five were below $150,000.

Highest Priced School Districts	Median Price	Lowest Priced School Districts	Median Price
Forest Hills	$565,421	Walton-Verona	$147,000
Loveland	$498,937	Edgewood	$133,031
Mason	$437,348	Erlanger/Elsmere	$131,000
Kings	$311,764	Boone County-Boone Co. HS	$130,650
Three Rivers	$302,000	Goshen	$121,273

Data in this report is generated from information gathered on NPG DataQuest tracked subdivisions. NPG DataQuest offers permit and closing information by school district, jurisdiction, MLS area and zip code, as well as providing on the ground activity tracking for 900 active subdivisions. For more information, call Maureen McDermott at (513) 404-6481.

Lot Transfer Analysis

2010-08-20 16:29

In addition to the permit, closing, and drive information collected by NPG DataQuest, we also provide analysis of developed lot sales for the four Ohio counties in the Cincinnati market. The graph below depicts lot sales to builders by developers or other third parties (such as banks, investors, etc). It does not include sales to investors or banks, or sales to the end homeowner. It is an indication of what builders are paying for developed lots in our market.

Permits Remain Steady for the Year

2010-08-13 20:37

Permits remained steady for the Cincinnati/NKY seven county region for the month of July. There were 215 permits pulled for single family detached homes. The 2010 total of 1601 is just over 1% higher than last year at this time. The biggest gain was in Hamilton County, where permits were up over 22% through July as compared to last year.

NPG DataQuest is reporting permit information for the month of July by the 13th of August showcasing the timeliness of our permit collection process. Our commitment is to have all permit data loaded by the 30th of the following month, but we strive to beat that deadline and supply our clients with information as quickly as possible.

NPG DataQuest offers permit and closing information by school district, jurisdiction, MLS area and zip code, as well as, providing on the ground activity tracking for 900 active subdivisions. For more information, call Maureen McDermott at (513) 404-6481.

Top 5 Communities in the First Half of 2010

2010-08-06 15:32

98 single family permits were issued in the top 5 communities in the Cincinnati/NKY 7 county region for the first half of 2010. None of these communities were in the top five for the same period last year. Those 98 permits represent 7% of the total permit volume for the region, while the top five from last year represented 15% of the market. As developed lot inventories fall in last years most permitted communities home sales are being more evenly distributed throughout the region. This is evidenced by the fact that there is a 36% increase in communities with 10 or more permits for 2010 over 2009.

The Top 5 Communities by Permits

1. South Ridge
2. Hickory Valley
3. Treetop Estates
4. Estates of Hawthorne Manor
5. Woodland Streams

New Home Closing Data Shows Impact of First Time Homebuyer Tax Credit

2010-07-30 14:51

Closings of new construction homes* in the 4 county Cincinnati region (Hamilton, Clermont, Warren, and Butler counties) were up 20% over the same period in 2009 (690 vs 574 closings). The price distribution graph below shows a clear increase in closings in the 125k-175k price range. As discussed in previous posts, this can be attributed to the first time home buyer tax credit. The 225k-250k price range also saw a spike for the first half of this year, while the balance of the market saw little variation from 2009.

*Closing data is for sales in NPG DataQuest tracked subdivisions. Data reported does not include owner financed closings where homebuyers obtained their own construction financing.

NPG DataQuest offers permit and closing information by school district, jurisdiction, MLS area or zip code, as well as providing on the ground activity tracking and closing detail for 900 active subdivisions. For more information call Maureen McDermott at 513-404-6481.

NPG DataQuest in the Business Courier

2010-07-23 09:22

As our weekly blogs and emails have demonstrated, NPG DataQuest is a valuable tool for analyzing the residential new construction market here in Cincinnati, Northern Kentucky, and now Dayton. Data is reported in a timely manner, and it's accessed through a sophisticated yet easy to use web application. The quantity and quality of our research, as well as it's reporting, is something completely new to the Cincinnati metro area.

With the regions largest homebuilders as clients, we are looking to expand our services to other industry related professionals such as bankers, appraisers, and real estate investors. Dan Monk of the Cincinnati Business Courier recently sat down with Jeff and Maureen to talk about the NPG DataQuest expansion plan.

Single Family Permits up 9% in First Six Months of the Year

2010-07-15 16:34

Single-family detached building permits are up nearly 9% year to date over 2009. This is primarily due to the much stronger 1^st quarter permit activity as compared to last year due to the extension of the first time homebuyer tax credit program. In order for the market to maintain the same sales volume as last year, 1296 homes, an average of 216 per month, will need to be permitted over the next six months. Last year, July and August were two of the strongest months, however without any current buying incentives being offered other than price and low interest rates will the market be able to maintain its current pace?

The data has also revealed some fairly dramatic shifts in some of the individual counties. However as a whole, the annualized permit activity appears relatively stable.

NPG DataQuest offers permit information by school district, jurisdiction, MLS area or zip code, as well as providing on the ground activity tracking and closing detail for 900 active subdivisions. For more information call Maureen McDermott at 513-404-6481.

Boone County Shows Largest 2nd Quarter Gain in Permits Pulled

2010-07-09 13:53

Single family permits in Boone County Kentucky were up 19% to 124 in the second quarter of 2010 as compared to the first quarter. Permits almost reached last year's peak level of 138. This percentage increase is eight points higher than the next closest county from the 7 county region. Four of the seven counties in the Cincinnati/NKY had shown decreases in the second quarter with Kenton Co. showing the largest decrease of 40%.

NPG DataQuest offers permit and closing detail by school district, jurisdiction, MLS area or zip code, as well as providing on the ground tracking for over 900 subdivisions. For more information call Maureen McDermott at 513-404-6481

City of Cincinnati Single Family Permits More Than Double

2010-07-02 13:32

The City of Cincinnati saw a 138% increase (18 to 43) in single family detached permits for the first five months of the year over the same period last year. This increase is primarily due to the addition of two new neighborhoods, Northwind and Rockford Woods, as well as a recent surge of activity in the Villages of Daybreak. The activity in these three infill communities indicates a desire by a segment of homebuyers for traditional single family living in a neighborhood closer to the urban core. These communities also offer a minimum 10 year tax abatement for new home construction.