Featuring the perspective of local, new-construction executive:

Brian Wulfestieg
Vice President of Sales, Washington and Oregon, Toll Brothers

Will you add inventory in 2024? Can you tell us about your plans?

Brian Wulfestieg: Absolutely. Toll Brothers has an array of new home communities throughout the Seattle area, offering home designs ranging from 1,000 to 3,900 square feet. Toll Brothers strives to differentiate our homes and communities from other builders by offering unrivaled choice. We have homes available for buyers at all stages of construction. If a buyer wants to build and personalize their new home from the ground up at our Design Studio, we have options for that. We also have homes that have been curated and professionally designed, ready for immediate move-in to accommodate the needs of a buyer whose plans require a shorter timeline. Having this type of offering is crucial, as many buyers want to be able to lock in their interest rate and move into their dream home quickly.

Will agents be more important to your plans in 2024? If so, how?

Wulfestieg: Agents are an important part of our business. We welcome their participation at all our communities. Toll Brothers has great programs to encourage real estate agents to visit our model homes and work with our sales teams. With such limited inventory in the resale sector throughout Puget Sound, new home sales and new home communities create an opportunity for growth and fill the gap in availability. Agents often bring their clients directly to new home communities.

Which type of new construction housing (condo, townhome, single family) do you expect to be in most demand in 2024?

Wulfestieg: Infill townhomes, condos and cottage-style development will be in high demand throughout 2024. As affordability continues to be a challenge to home ownership in the region, staying close to where one works and cutting down commuting costs is attractive to buyers. These unique communities often include pocket parks, open space and thoughtfully planned common areas. This is attractive for many buyers who are looking for a sense of community. I would expect buyers to also seek out more traditional single-family communities that offer access to schools and amenities.