WOODLAND (CBS13) — The economy may have slowed and home prices have leveled off in some parts of the Sacramento area, but the City of Woodland is booming.
Real Estate experts say they are set to see the most new-home construction in 15 years. A google earth image shows the progression on the east side of town when construction on the Spring Lake subdivision began in the early 2000s.
Several years ago there were 1-2 developers, but that number has tripled. They say if you build it, they will come and that’s what has happened here in Spring Lake.
Nicholas Morrison just moved to the Spring Lake subdivision from the Florin Road area in Sacramento. He’s in a full house with his mom and her fiancee, as well as his girlfriend and her aunt.
They liked the area because it had larger homes. Morrison said his parents bought the lot seven months ago.
REMAX Gold Real Estate broker Don Sharp says they bought into a building boom in East Woodland. There are 4,000 units planned in the Spring Lake subdivision, both single-family homes and apartments.
Two-thirds of the units are already complete but more are on the way because more people are on the way.
“Either they are coming into work in Davis or they are coming in and selling a home from Davis or they are presently renting and can not afford to buy a home,” Sharp said.
Prices in Davis are $150 per square foot higher than in Woodland, which has driven up the demand for housing.
Sharp showed off the subdivision that has homes in the mid $400,000 to $800,000, a new state-of-the-art elementary school, and easy access to the nearby Costco.
“That is attracting a lot of attention from people coming to shop from Davis and sac who are looking for something not so congested,” Sharp said.
The number of people living in Woodland has pushed up demand and home prices. Davis has no new construction inventory right now according to Metrolist, but you can see the average home price in Woodland is now $495,000, which is higher than Natomas and West Sacramento.
Woodland is now on par with Roseville in terms of new home prices.