Existing home sales showed the strongest gains last month in 18 months, according to the National Association of Realtors, and that is having a positive trickle-down effect on local new-home builders. Northbrook-based Red Seal Homes reports strong sales to downsizers and move-up buyers – both demographics with existing homes to sell.

At Provenance, Red Seal Homes’ luxury master-planned community of 137 homes in the Northbrook area, buyers have signed contracts on roughly two to three homes each week since sales began in March, according to the builder. Across Chicago’s suburbs, sales of new-construction homes were up nearly five percent in the first quarter of 2015, according to a report from Tracy Cross and Associates.

“The majority of our buyers are either upgrading to a larger home or, in the case of empty nesters, reducing their square-footage, and the strong market for existing homes has boosted their confidence and convinced them that now is the right time to sell,” said Brian Hoffman, an executive with Red Seal Homes.

Hoffman said the variety of floor plans at Provenance, including townhomes, duplexes and estate-style single-family homes, is what makes the community particularly attractive to these buyers.

The community’s collection of 21 single-family homes, called The Estates, offer six floor plans measuring 2,948 to 4,362 square feet. Both ranch and two-story designs are available, and two include a first-floor master suite. Homes, which are priced from $909,900, have two to five bedrooms, 2½ to 4½ baths and an attached two- to three-car garage.

All six plans offer flexible layouts, with features such as open-concept living space, first-floor master suites, first-floor guest suites, large home offices, secondary bedrooms with en suite baths, versatile loft spaces, and as many as six walk-in closets.

“Each plan was designed with the needs of both move-down and growing families in mind,” noted Hoffman. “After building in this area for more than 80 years, we are very much in tune with what will appeal to buyers on the North Shore.”

Red Seal applied those same market insights to the design of the townhomes and duplexes at Provenance.

The two-story townhomes at Provenance, called The Terraces, range in size from 2,137 to 3,059 square feet with three bedrooms, 2½ baths and an attached, two-car garage. There are five plans from which to choose. Notable features of the homes include a first-floor master suite with sitting area, second-level loft, second-level laundry room, office, and two-story great room, per plan. While the basement of each townhome is unfinished, buyers will have the option to include rough-in plumbing for a third full bath. The Terraces are priced from $489,900.

The duplex homes, called Villas, measure 1,857 to 3,704 square feet and include two to three bedrooms, 2½ baths, and an attached, two-car garage. The four Villas plans, which offer one or two stories, have features such as a first-floor master suite, loft, an office, a two-story great room, or a second-level laundry room. Like the Terraces, the Villas also include an unfinished basement with the option to add rough-in plumbing for a future full bath. The Villas are priced from $649,900.

“We have found North Shore downsizers are looking for three key features in a home: new-construction, plenty of space, and maintenance-free living,” said Hoffman. “The Terrace and Villa homes check all those boxes and then some. There really are few options that are quite like this in this area offering such generous square-footage in an attached, maintenance-free home, so these have been especially popular.”

Residents of Provenance will enjoy the shops and restaurants on nearby Willow Road, as well as easy access to Interstate 294. The community is served by the award-winning Northbrook District 31 schools and Glenbrook North High School.

For more information on Red Seal Homes, visit www.redsealhomes.com. To learn more about Provenance, visit www.homesatprovenance.com, or call (847) 417-3056.

 

About Red Seal Homes

Over the last 81 years, Red Seal Homes has built more than 50 residential developments and more than 6,000 residences in the Chicago area. Since its founding in 1934, Red Seal has established itself as one of Chicago’s most acclaimed builders, winning prestigious awards on an annual basis.