It's not every day we see new construction homes outpacing resale properties in value, but that's the landscape we're seeing across many parts of the country. Newly built homes are now selling at a median of $205 per square foot, a bit less than the $212 per square foot for existing homes. This reversal, which appeared in about a third of major US markets, is a notable shift from the longstanding norm where new builds typically commanded a premium. What’s driving this? Builders are responding to increased competition—especially in areas where new inventory has expanded—by offering more competitive pricing and meaningful incentives. For buyers, this may open up new options, particularly in well-supplied neighborhoods where there’s more room to negotiate. As realtors who have spent decades navigating changing markets in the San Ramon Valley and beyond, we always pay close attention to these trends. The big-picture lesson remains: increasing the number of homes is the surest route to greater affordability, though we’re mindful that permitting delays could challenge that progress. As always, our goal is to help clients approach these opportunities with clarity and confidence, armed with deep local knowledge and a commitment to professionalism.
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