Demand Increases for Single-Family Homes

THOUSAND OAKS, CA—The New Home Co. has opened Twenty Oaks, a gated community of 20 single-family homes in Thousand Oaks. The community opened to a flock of 500 interested families that toured the community's two model homes. The homes will be offered for-sale in the low- to mid-$1 million range.

The overwhelmingly positive response to the opening weekend shows that demand for single-family homes is increasing, at least in the right locations. “We can't speak for all markets, but we are fortunate to be experiencing strong demand for both single-family and multifamily for-sale housing where we build,” Joan Marcus-Colvin, SVP of sales, marketing and design at the New Home Co., tells GlobeSt.com. “With rental rates escalating rapidly, the new-home market can be a much better value proposition.”

The community is in a open area of the Conejo Valley, surrounded by thousands of acres of protected open space, which provides the community with fabulous mountain and valley views. The location provided a great opportunity for a single-family home development. “Our strategic approach has always been to find sites in 'A' locations that are in good school districts with strong demographics where we get rewarded for great architecture and planning,” says Marcus-Colvin. “There has been very little new-home construction in Thousand Oaks and we are thrilled to bring our neighborhood to market.”

The homes range in size from 2,900 square feet to 4,000 square feet with home sites that average 14,000 square feet. The community features a mix of three- and four-bedroom homes with as many as four-and-a-half bathrooms. “There is excitement over our one-story home along with our exceptional views and location,” says Marcus-Colvin.

Further illustrating the increasing demand for for-sale housing, there has also been an uptick in townhouse development. There are several townhome communities under construction, including the recently announced 100-home community in Pomona, which is being built by a local developer on a 7.5-acre land parcel.