Building A New Home

The often asked question is how much more is a new home worth than an older home. I've plotted a history of homes which were described as zero years old when they were sold. The graphs below show how much more the home sold for than when it was previously purchased. To make the graph more useful, the increased value of the new home is shown in dollars per square foot.

If you are thinking about buying an old home, then building a new home on the lot, compare your expected construction costs with the increased value to estimate if your new home is worth more than it will cost.

Notice that new Palo Alto homes sales are much different from new Santa Clara home sales. As repeated over and over, location matters. An index for many Santa Clara County and San Mateo County cities is shown below.

New Palo Alto Home Sales Statistics

New Palo Alto Home Sales Statistics

New Santa Clara Home Sales Statistics

New Santa Clara Home Sales Statistics

Index for new home sales statistics.