July 29, 2016
‘Are Homeowners Downsizing? Lots’
By James D. York, P.A.
With all the baby boomers at or nearing retirement these days, we hear quite a bit about downsizing of homes. A recent “Eye on Housing” blog by the National Association of Home Builders (NAHB) reports on another type of downsizing going on: house lots.
In 2015, the median lot size for a newly constructed single-family home fell to under 8,600 square feet. That’s a record low since the U.S. Census Bureau started tracking this statistic.
For perspective, an acre is 43,560 square feet. Paul Emrath, NAHB’s Vice President for Survey and Housing Policy Research, uses a football field analogy to help with visualization. Currently, 5.6 median house lots would fit between the goal lines.
Sounds crowded. But then, less land does mean lower taxes, and less time and money spent on yard maintenance. The statistics vary significantly by geographical area, with the smallest median lot size in the Pacific region at .15 acres (6534 square feet).
The largest lots are in New England, where low population density is required by many local zoning regulations. Their median lot is .51 acres, or 22,216 square feet. Florida, along with the rest of the South and Middle Atlantic regions, has a median .20 acre home lot. The West South Central region is .16 acres, Mountain .17, West North Central .22, East North Central .24, and East North Central .30 acres.
Whatever size lot—or home—you need, we’ll be happy to help. Just give us a call.
Connect With York Real Estate Group
York Real Estate Group consists of James, Michael, and Morgan York, Florida Realtors with Downing-Frye Realty. James York is the winner of the prestigious 2014 and 2015 SWFL People’s Choice Realtor Award. The group has over 25 years combined experience and over $250 million in sales transactions. Visit The York Group website at www.naplesyorkrealestate.com for all current MLS listings of houses for sale in Naples, Marco, Bonita, and Estero. If you have other questions, the Yorks invite you to email or call them at JYorkinFL@cs.com or 239-273-6727.