Shakopee New Construction Report- February 2011

Current Shakopee MLS inventory is sitting at 304 homes active in the Shakopee real estate market. of the 304 Shakopee homes for sale many are short sales and shakopee foreclosures. An article I wrote the other day tagged 44% of ALL Shakopee Homes for sale as being a short sale or foreclosure per Shakopee MLS stats. What also surprised me a bit was the number of new construction homes for sale so I wanted to break down those numbers for you.

41 homes in Shakopee are considered new construction are either  model homes, spec homes, to be built homes, Shakopee homes under construction or completed new construction. This does not included the Shakopee new construction homes not listed on the Shakopee MLS, which I’m sure there are quite a few as well. Those numbers can be obtained at the county by looking into the number of bulding permits pulled in 2011. Regardless just per the Shakopee MLS numbers that represents only about 13.5% of the Shakopee real estate market.

The Shakopee real estate market seems to be saturated with townhomes, but we are seeing few new construction townhomes buit fortunately. only 4 of the 41 active listings were townhomes in Shakopee and 2 of those are half built townhomes that went into foreclosure, but were started in 2005.

Some of the Shakopee builders and the respective development they are builder:

  • Keyland Homes (Countryside & Spring Lake Estates)
  • F & B Construction (Custom Builder in Shakopee from 200k and up, Can build anywhere)
  • Lennar (Valley Creek Crossing
  • Centex (Ridge View Estates & Park Meadows)
  • Mattamy Homes (Riverside Bluffs)
  • Wensco (Countryside
  • Charles Merritt (Stonebrooke)

The average sale price of the  single family new construction homes listed in the Shakopee MLS is pushing just over $300,000 at 301,103. Of average those homes had 2,256 sqft at a cost of  $138.25 per sqft. Foundation size averaged 1318 and homes had on average 3.68 bedrooms and 2.78 bathrooms. It is safe to assume most Shakopee homes being built today have a three car garage.