Saint Louis New Home Builder Rebound

In Saint Louis new single-family home permits through August are up over the same period last year, and the current rate of new home construction is gaining on year-end totals for 2011. Indeed, many area homebuilders have sold far more homes through Oct. 1 of 2012 than they did in all of last year.

Like the number of homes sold, revenue at Titan Homes so far in 2012 has already topped 2011 year-end totals. That’s thanks in part to two of the company’s biggest developments — Timberstone at Ohmes Farm in St. Peters and Saratoga in Lake Saint Louis. The company is down to the last seven or eight lots of a total 650 at the Timberstone at Ohmes Farm development, where single-family homes in Titan Homes’ Cottage and Craftsman lines start in the $180s but have an average sale price of about $285,000.

Sales at The Enclave at Sommers Pointe development in O’Fallon, Mo., have picked up in the last year. Phase I of the development is now more than 50 percent sold out, said Scott Dettmer, general manager at Dettmer Homes. The Enclave at Sommers Pointe, located on Sommers Road in the Highway 40 and WingHaven Boulevard area, has 91 total home sites and sits between a newly opened Wentzville school district elementary school and a new high school now under construction. The average sale price of homes in the community is the upper $200s. Dettmer Homes is also has a condo project in O’Fallon called Bramblett Crossing.

Bridgeton Trails off Old St. Charles Rock Road in Bridgeton is Prestige Custom Homes’ largest project and best-selling subdivision. Ranch to two-story models there are priced from the $170s, but the community’s average selling price is about $200,000, according to the company’s president, J.R. Mayer Jr. Only 15 of the development’s 40 total lots remain, and the company hopes to have the majority of the remaining sites sold next year.

Source: Nicholas Ledden Research Director - St. Louis Business Journal

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