New home construction continued to rise in 2016 among Richmond’s highest-producing homebuilders.
The 30-plus firms represented in BizSense’s annual list of top-producing homebuilders constructed 143 more new homes collectively last year, with 2,296 new homes built compared to 2,153 in 2015 – a 6.6 percent increase.
Home sales among those firms also rose 13.9 percent, from 2,113 in 2015 to 2,408 last year. Average sales price per firm ranged from $212,000 to $1 million, with an overall average price of $490,229. Home sizes ranged from 1,400 to 4,000 square feet.
The Richmond area’s top two producers retained their spots in BizSense’s ranking, released last week. Reston-based Ryan Homes retained the top spot after submitting its numbers after publication, totaling 723 homes built locally last year – an increase of 57 homes from the previous year. Blacksburg-based HHHunt Homes built 378, up from 289 in 2015.
Movement on the list from the previous year started in the third and fourth spots, with Midlothian-based Main Street Homes moving one spot up to third, despite building the same number of homes – 181 – year to year.
Main Street’s move was due to a decrease in homes built by Glen Allen-based Eagle Construction of Virginia, which dropped from third to fourth with 121 homes built – 65 fewer than in 2015.
Eagle Construction did sell more local homes – from 146 in 2015 to 168 last year – as did Main Street, which sold 218 homes last year – 38 more than in 2015.
While its local new home construction number dipped, Josh Goldschmidt, vice president of sales, marketing and design for Eagle Construction, said the company’s numbers overall stayed the same when taking into account its activity in other markets – Williamsburg and Tidewater.
“We do focus on more than just the Richmond market,” Goldschmidt said. “Where our numbers were down relative to the group in Richmond, we climbed into the top five in Tidewater for the first time.”
Between the three markets, Goldschmidt said Eagle Construction built 207 homes last year – a number he said was comparable to the previous year. He said 2017 likely would be busier locally for the company, which has several new developments slated, including 200 townhomes in sister company Markel | Eagle Partners’ GreenGate development in Short Pump, and two single-family subdivisions also in western Henrico: the 40-home John Rolfe Square at the intersection of John Rolfe Parkway and Pump and Church roads, and the 26-home Church Road Glen farther east.
“We will have more neighborhoods, but we’re also growing to the east. We’ve got more neighborhoods coming on at Williamsburg, we’re negotiating a couple more down at the beach,” Goldschmidt said.
This year’s list featured 10 firms that were not represented in the previous year’s installment. Additions included Midlothian-based Craftmaster Homes, which came in in sixth place with 100 homes built; fellow Midlothian firm Lifestyle Home Builders, which placed ninth with 60 homes; Reston-based Stanley Martin Homes, in 10th with 53 homes; Midlothian-based Biringer Builder, at 14 with 29 homes; and Goochland-based Blue Ridge Custom Homes, at 15 with 28 homes.
Mechanicsville-based Liberty Homes jumped up two spots to fifth with 120 homes built – 37 more than in 2015 (and just one less than Eagle Construction’s local total). That pushed Lakeside-based StyleCraft Homes down the list, placing seventh with 39 fewer homes built, but tying with Craftmaster Homes with 100 total homes built.
Mechanicsville-based R-CI Builders maintained its position on the list with 69 homes built – three fewer than the previous year. Goochland-based Boone Homes dropped four spots with 52 homes built, eight fewer than the year before.
Henrico-based Cornerstone Homes held its ground in the 12th spot, despite building nine more homes than in 2015. And Midlothian-based Emerald Homes likewise held its ground with 32 homes built, the same as the year before.
The biggest mover on last year’s list – Powhatan-based Mitchell Homes, which jumped eight spots from its 2015 ranking to break into last year’s top 10 – did not appear in this year’s list.