Piedmont Realty and Construction hosted the BHG Real Estate III Team in their new model home in Spring Creek earlier this week. It was a chance to hear the latest on the community and the area. A lot has occurred in the past year.
The first homes of Spring Creek were completed in 2006. From 2007-2009, top sales were in the $600k range and the top year for sales was 2008 with 52. Since then, this market has settled into where I think it will be for a while. There are just two builders active in Spring Creek now. Ryan Homes and Piedmont Realty and Construction. This community is still relatively young so the majority of sales are still new home sales. Since JAN 2010:
Ryan Sales 16 Median $257,000
Piedmont Sales 21 Median $372,000
From my vantage point, Ryan Homes is chasing a lower price point per sq ft. Piedmont Realty and Construction is selling a more energy efficient, custom home that is appealing to home buyers choosing to live in this area. The top of this market is in the $400’s now causing some difficulties for those who spent $500k+ a few years ago. Well designed, quality built, energy efficient homes are in demand in Spring Creek. One level living is very popular as well. Spring Creek is approved for 1200 residential homes.
The golf course continues to be recognized as one of the best in the area. It was shared that a major golf publication has ranked this golf course the number one residential community course in Virginia for 2012.
Outside of the gates in the immediate area, commercial growth continues. The Spring Creek Business park now includes UVA Health System currently under construction on their new facility. The retail space is anchored by Wal-Mart and Lowes. New business like Arby’s and Sheetz are opening soon and a new strip mall is on the horizon.
Take a tour of The Fairview here. Visit it during the Parade of Homes the first two weekends of October. Feel free to contact me for more information on the area.