They’re huge. They’re unsightly. They’re everywhere. When one went up next door, I went on a quest for answers.
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https://slate.com/business/2025/03/houses-real-estate-luxury-sale.html | American houses haven’t actually gotten much bigger over the past 25 years or so. The average new single-family home built in America in 2024 was 2,366 square feet, just slightly up from 2,223 ... slate.com |
To construct a house like this in Arlington these days, McMullin said, you’ve got to spend over $1 million. Once realtors take their commissions, county fees get paid, and all the other ancillary costs are factored in, the developer’s profit was more modest than I expected. “All in, just on a cash basis, these projects are making anywhere from 8 to 15 percent,” he said. “Heck, you could take that money and just buy a bond. Land costs are so high, construction costs, the administrative burden—that all just increases every year.” The result: If a developer doesn’t absolutely maximize the square footage of the house he builds in this market, he might not make any money at all.
