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St. Louis Real Estate Search

 

Characteristics Of New Homes Built In 2014

There were 437,000 new homes sold (single-family) in the U.S. last year, down from a peak of 1,283,000 in 2005.  Roughly ten percent of the single-family homes sold were attached homes (44,000) and the remaining ninety-percent (393,000) were detached homes, according to data just released by the U.S. Census Bureau.

Facts and Figures For New Homes Sold In The Midwest During 2014:

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  • 13.5% (59,000) of the new homes sold in 2014 were in the midwest region of the U.S.  Of those, almost 90 percent  (89.8%) were detached single family homes (53,000) with the remaining roughly 10 percent being attached single family homes, consistent with the ratio for the U.S.as a whole
    • 80% – Buyer obtained conventional financing
    • 6% – Buyer obtained FHA Financing
    • 4% – Buyer obtained VA Financing
    • 10% – Buyer paid cash
  • 98% had central air-conditioning -believe it or not, there were 1,000 homes built without air conditioning.
  • 44% had 4 bedrooms, 44% had 3 bedrooms and 12% had 2 bedrooms.
  • 33% had 2 bath rooms, 32% had 2.5 and  33% had 3 bath rooms.
  • 60% had vinyl siding, 14% brick, 13% fiber-cement siding and 11% wood siding.
  • 56% had a fireplace, 38% did not have a fireplace and 6% had two or more fireplaces
  • 83% had a basement, 15% were built on a slab and 2% had crawl space (for comparison, in the south, just 10% had basements and just 29% on the national level)
  • 88% had gas heat and 12% electric
  • Median lot size was 4,663 square feet for an attached home and 11,434 square feet for a detached home
  • 24% had a patio and a porch, 21% a porch only, 12% deck only, 9% porch and deck.
  • 51% had a 3 car garage, 47% a 2-car garage
  • 50% were two-story homes, 49% were 1-story homes
  • The median size of the home was 2,349 square feet – Attached homes had a median size of 1,704 square feet and detached homes a median of 2,415 square feet
  • Median price per foot was $98.69 – Attached homes sold for a median price of $105.87 per foot and detached homes sold for a median of $98.10 per foot

 

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