New houses are in demand. Miramar development pre-sold 32% of inventory in a month
Between low interest rates and COVID cabin fever, single-family houses are selling fast. Proof: It took only a month for CC Homes to pre-sell one-third of the inventory in its new Miramar development, said Diana Ibarria, the development firm’s senior vice president.
The Gables-based firm, a Codina-Carr company, launched pre-sales for Marbella by CC Homes in early August. Fifty of its 158 houses are already pre-sold.
The houses range from a 2,588-square-foot three-bedroom, two-and-a-half bath house to a 3,985-square-foot fou- bedroom, four-and-a-half bath house. Prices run from $627,000 to $718,990. Just as in its Canarias project in Downtown Doral, each house will come with a TytoCare medical kit and access to Baptist Health on Demand. Construction on the 50 pre-sold homes is expected to launch in October, with delivery in spring 2021.
Sales at Marbella have sprinted past those at CC Homes’ previous Broward project, the recently completed Chateaux near Parkland. When those sales launched in 2018, Ibarria said, the firm sold on average three to four homes per month.
“The single-family sales are up because people in condos, townhomes are buying. Broward does not have that much new construction — it’s a combination of the pandemic and interest rates,” she said.
“It’s a great opportunity to buy a house. People are staying home a lot more. Some are thinking about remodeling, but instead are opting to purchase a new home,” Ibarria said.
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The Marbella by CC Homes community sits on 17.7 acres. Lennar and CC Homes purchased a total 117 acres in 2019 for $39 million. Lennar, which recently launched pre-sales for its new development on the property, will build 242 houses. Lennar did not return multiple requests for comment on its pre-sales.
Single-family home sales continue to outpace that of condos in South Florida. As prices continue to rise and supply shrinks, South Florida buyers struggle to find accessible prices for single-family homes. Demand for single-family houses and a diminishing supply are motivating other developers, such as Century Homebuilders, to move forward with new projects.
