Custom Homes: Total Sales Value

Total sales value for custom homes was $96M in 2022, split between waterfront ($90M) and non-waterfront ($6.5M) sales. Total sales value on the custom homes asset class was down -60% in 2022 compared to 2021, and down -36% compared to 2020. However, the total sales value for 2022 was still above pre-Covid levels.

Custom Homes: Price Per Square Foot (PPSF)

Price per square foot on custom homes was up +15.5% in 2022. Waterfront custom homes PPSF rose +21.5% from $1,018 to $1,237, and non-waterfront PPSF was down -22.8% from $836 in 2021 to $646 in 2022. Note, non-waterfront PPSF was based on a very small sample size of just two sales in 2022, and therefore not necessarily representative of a trend. We will continue to watch this metric over the coming quarters.