Market Capture for New Home Construction EOY2002/Q1-2003
5,960 new homes were completed in 2002
1,564 new homes were completed in Q1-2003
8% (or 118) of the Q1 starts were for homes in excess of $250,000
Using 2002 construction starts, Gold Ave. needs to capture 0.069% of the new construction to sell out.
Based on 50% of the units being presold, and annualizing Q1-2003 (472 homes), the Gold Avenue Lofts needs to capture 4.34% of the upper end new single family construction to sell out.
Based on starting from scratch, and annualizing Q1-2003 (472 homes), Gold Avenue Lofts needs to capture 8.68% of the upper end new single family construction to sell out.