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Over 400 Buyers Chose Viridian in 2020

Jan 13, 2021

 

Viridian saw a 19 percent increase in home sales over 2019, with homebuyers purchasing homes across all of our builders’ home offerings – from townhomes and low maintenance smaller homesites, to roomier 65’+ ones and generous estate homesites on The Island and Viridian Park Lane. Additionally, 83 buyers opted for reimagining their retirement years in Elements, our 55+ community. In total, 412 homes were sold in Viridian in 2020, with homebuyers seeing some of the final neighborhoods slating to be developed in the coming 18-24 months and deciding to purchase their new home before homesites are gone.

In 2021, we expect to welcome more residents with the delivery of our newest section of 168 homesites of all sizes and the continuing development of The Island estates. Plus, more parks are being finalized to offer homebuyers their own green oasis right outside their door, offering respite from the bustle of daily life and a place to unwind with neighbors. Viridian offers residents an amenity package like no other in DFW, to which homeowners have responded eagerly this year.

 

Why Now May Be the Time To Buy in Viridian

Here are a few reasons why there is a shortage of move-in ready homes across DFW and specifically Tarrant County. Homebuyers interested in Viridian should consider planning ahead for their move in 2021, and act soon to secure their home:

 

1. Development of homesites in Viridian is nearing completion. With the delivery of these 168 homesites in January, Viridian will be nearing completion of development among the core of the community. A few other sections will be developed along N. Collins St., but homebuyers who are looking to purchase new construction homes should consider being among the first to make selections now to secure the best placement among the community for their family.
2. Construction is taking longer to complete. New construction homes are taking longer than the typical three to six months that our builders can usually deliver. The high-quality homes that our award-winning builders construct take quality materials, highly skilled labor, and time, all of which is at a premium due to COVID-19 delaying production of materials. The high demand for new construction homes and temporary delays in construction projects earlier in the year are also playing into construction timelines. Additionally, given the appeal of Viridian in 2020, we exceeded our home sales projections by 18 percent so many builders are experiencing a backlog of homes already contracted to be built.
3. Competition for homes is high, and inventory is low. Many people in DFW are looking to take their first steps into homeownership or find functional, right-sized homes that better fit their needs both inside and out. The latest statistics from MetroTex Association of Realtors show that inventory levels in Tarrant County are very low – newly listed homes are lasting 1.4 months on the market before sale (6 months is considered a balanced market) compared to 2.4 months in October 2019.  Active listings are down 39.7% compared to 2019.  At Viridian, our builders are seeing this interest in new construction homes as well. While they are working hard to keep up with demand, buyers should be proactive and plan ahead of their move to be sure that they’re selecting their dream home here. An early start will give you the most choices for new move-in ready homes or working with builders to build your dream home.
4. Mortgage rates remain low. Lenders are still able to offer mortgage rates at near-record lows. The latest reports from Freddie Mac show mortgage rates hit a new record low in the beginning of January, and market surveys show that the average 30-year flat rate mortgage is 1% lower than a year ago at 2.65%, with a. 15-year flat rate mortgage interest rate at coming in at 2.16% as of 01/07/21. This gives buyers purchasing power. First-time homebuyers can consider buying their forever home instead of their starter home. Current homeowners can consider purchasing a new home with their ideal floor plan to meet their new needs instead of remodeling their existing home, while potentially increasing their home's energy efficiency, and lowering their monthly utilities.

 

Interested in learning more? Read our latest guide for reasons it is beneficial to purchase new construction over resale homes.

 

Your Next Steps to Buying a Home in Viridian

We look forward to welcoming you as a resident in 2021! Start here:

1. Join our email list below to get the latest updates on development, builder incentives, experiences to get a taste of the #ViridianLife, and the most current list of available homes delivered to your inbox.
2. Browse our Homebuying Learning Center for tips and resources to decide if a new home in a master-planned community like Viridian is for you.
3. See what options are available in Viridian right now! Browse available homes for sale and floor plans on our website to determine which builders you’d like to reach out to in Viridian.
4. Schedule an appointment to visit the builders at their model homes (or plan a virtual tour with them!) to discuss floor plans, design options, and securing your homesite.
5. Interested in building a custom home in Viridian or on The Island? We encourage you to act now - almost all homesites for custom homes have been reserved or begun construction. View the map of available custom homesites and speak to our custom builders about securing a homesite.

 

About Viridian

Viridian is a master-planned community unlike anywhere else in the metroplex. Exceptionally placed in north Arlington, your home will be comfortably located about 20 minutes from both downtowns and have 2,000 acres of green space, parks, lakes and trails to explore steps from your front door. Buyers can find homes suited to any life stage, priced from the $275,000s to $1 million+ in Viridian, including custom homes and a 55+ active lifestyle neighborhood, Elements at Viridian, for adults age 55 and older.