How long does it take to build a new home in Central Park … right now?
How long does it take to build a home in Central Park … right now?
Here at Focus Real Estate we’ve been following Central Park’s build process and timelines closely for years. We’ve also been fortunate to have had the opportunity to help dozens of clients as their broker and assist them with Central Park’s construction process. Regardless of whether you’re building with Lennar, Parkwood, Brookfield, Infinity, or another builder, here’s what I know about building timelines in our neighborhood – right now.
In the past if you were looking to build a new home in Central Park, you might generally assume an 8-12 month build-out period from the day you sign your contract until your home is done. This would’ve been a reasonable timeline pre-pandemic and pre-lumber shortage, and back when there were still hundreds of lots available in the neighborhood.
Things have changed since then.
First, let’s chat about the lumber shortage. The biggest takeaway you need to know is that lumber prices are up – big. Other prices associated with new homes are skyrocketing, too. Copper, granite, insulation, and more are approaching record prices. There are many issues with prices increasing dramatically, but in terms of build timelines what we’re seeing is some builders are going slower with their overall build processes hoping that prices stabilize or even decrease.
Second, let’s chat about limited inventory. You’ve probably heard that there simply aren’t many resale homes on the market these days (though this slowly seems to be changing as the summer selling season gains traction). And the same is generally true of new homes as well. When they’re released, new lots and new homes sell extremely quickly, which means you have to be on the correct lists and act quickly if you’re interested in grabbing one of the last opportunities in Central Park.
How does this impact build timelines? Well, Central Park’s builders know they have many buyers ready, willing, and able to purchase. So the urgency on the sales side isn’t as strong, and what we’re seeing is builders holding off on lot releases waiting for lumber and other prices to go down.
Another challenge we’re hearing about from builders is permitting. Though it seems to be builder/home/lot specific, different homes seem to be going slower through the permitting process than in the past.
So back to our original question – how long if you want to build?
The answer is that more than ever, it seems to depend on your specific builder, lot, and model of home. A conservative overall estimate? Anywhere between 12 months to 2 years right now from contract signing to completion seems realistic. Of course, there are a variety of factors that go into your particular home’s build-out timeline – your builder, where your lot is, weather, availability of trades, Denver permitting, and more. Some homes will go much faster, and it’s possible some will go even slower. At a high level, I would anticipate a longer build cycle for many homes than we’ve seen historically.
Central Park’s new home market has never been more dynamic, and more unpredictable. I feel like we’re poised on the start line ready for the last few big lot and home releases in the last neighborhood, North End, and once those occur the race will be on for the final few new homes in Central Park. Our 8 broker team here at Focus chats with the builders every week, so we’d love to help you if you’re interested!
Curious about the latest on some of the builders? Check out these Scoop posts. One big caveat is that everything seems to be changing weekly, so some of this information is already dated. Give any of us at Focus a call and we’ll let you know what’s going on right now in North End with your favorite builder.
Kailee Ackerman has all the details on Inifinity in this great post:
In Love with Infinity Homes? Here’s the latest – May 2021
Joe Phillips has the details on Brookfield:
The Scoop on Brookfield Residential in Central Park
Lisa Palladino has the scoop on Wonderland:
The Scoop on Wonderland Homes Spring 2021
Joe Phillips has the details on Boulder Creek‘s Wee Cottages in this post:
More “Wee Cottages” coming to Central Park Neighborhood!
I chat about Parkwood in this post:
Your last chance to build a Parkwood – forever – is here
-Mariel
