Finding new homes in Troy, MI is no easy feat; the number of builders active in the city is low, and the availability of land left to develop seems even lower. Over the past 20 years, Mondrian Properties has controlled the market, building/selling the most single-family homes, and it’s not even close. Without much competition from other builders, prices have increased at a higher rate in recent years than in some of the surrounding suburbs.
Factor in the demand that comes with a location offering a school district as coveted as the Troy School District, only adds to an environment that has buyers scrambling to scoop up the limited inventory.
When it comes to condominiums, Robertson Brothers Homes has probably been the most active builder over the same time period, though the competition has increased recently. The condo environment is less competitive for buyers than it is with single-family homes, but new inventory still remains low – particularly for ranch-style options.
Looking back on our Troy Update in 2017, you’ll see a lot of similarities to now, with Mondrian and Robertson still largely in control of the market.
In this post, we look at the neighborhoods that are currently active in Troy, as well as those on the horizon:
Current New Homes In Troy
West Troy Meadows – Seemingly down to their last lot or two, Mondrian is ready to close out this sprawling neighborhood featuring oversized lots, plenty of open space via the conservation area, and a solid location on the west side of Livernois, just north of Wattle, in the heart of Troy. Expect whatever is left to run close to $1M or more.
Estates at Willowbrook – Also nearing closeout, this Mondrian neighborhood on the east side of John R. (just south of Wattles Road) started off at a reasonable price point – at least, by Troy standards – but the last listing we saw was just over $900K. That said, expect 3-car garages, full brick and stone front elevations, and the high-end finishes you’d anticipate in this price range.
Eden Gardens – Located on the west side of Rochester Road, just north of Maple Road, this is currently the entry-level pricepoint in the Mondiran world. Featuring homes in the mid-2,000 sqft to mid-3,000 sqft range, a home in the upper $600s to low $700s is possible here. Offering 2-car garages and tighter floorplans, these homes still provide a healthy amount of included features to help support the price.
Meadows of Troy – Detached condominium homes by Robertson Brothers Homes, they strayed from their ever-popular townhome product, to develop these ranch/1.5-story plans that might end up becoming even more popular than the townhomes. Priced from the mid-$500s and located near John R & East Square Lake, these plans offer brick & stone exteriors, well-appointed interiors, and the rarity of no shared walls.
Midtown Crossing – Similar to Meadows of Troy (regarding plans and finishes), these attached condominium homes feature one shared wall. Still, with attached 2-car garages and a budget-friendly price point in the lower $500s, this neighborhood by MJC Companies is an excellent option. Bonus: the commute-friendly location on Rochester Road.
Center Court – Townhome style condos by Eureka Building Co., these plans offer 2 & 3-bedroom options, high-end finishes, predominantly brick and stone exteriors, and a fabulous location within walking distance from The Somerset Collection. Starting in the $400s, this neighborhood is the current price leader in the area. Compared to the traditional townhomes in the area, these plans offer very striking, rich exteriors.
New Homes In Troy Coming Soon
Estates of Brook Hollow; Phase II – The first phase of this neighborhood was built from 2018 to 2019, with homes selling in the mid-$500s to near $700K. With limited info on the new phase, we anticipate similar homes, however with pricing now north of $800K (or higher). The questions we’re asking, are when & where; there is a (roughly) 3.5-acre parcel to the west of Phase I, and a church on a 5-acre parcel to the south that Mondrian may have purchased? Either way, the new phase will be small with limited offerings. As for timing, we only know that pre-sales will begin “soon”…
Adler Cove – You might actually know more about this development than we do, and if so, we’re hiring – call us! Mondrian is great at keeping new developments on the down-low and the City of Troy is equally astute at not sharing development details with the community. So… expect single-family homes, on 20 lots spread over a 10-acre parcel, near the southeast corner of John R & E. Long Lake Rd, feeding into Hill Elementary, Larson Middle, and Athens High School. Pricing? Our guess is north of $700K. Timing? The pre-grand-opening-whatever-event will be “soon” as well.
Village of Troy – Robertson Brothers Homes secured re-zoning approval on the 20-acre parcel in March via the Troy City Council, and it appears this project could start at some point in 2024, with people potentially moving in by mid-2024. Located near Long Lake & Rochester Road, plans call for three different types of housing, which are expected to include detached single-family homes, attached single-family homes, and attached townhomes. Pricing has not been released yet.
New Homes In Troy – Individual Builds
In addition to new neighborhoods, there are also builders grabbing individual (or a couple) lots in existing neighborhoods and building there; builders like Hillan Homes, Orion Homes, and Clearview Homes, to name a few. There is also the option to find a vacant parcel and bring in a builder like Kensington Family Homes, Strathdale Development, or Lombardo On Your Lot to build the home you want. This option, allows you to create the home of your dreams, instead of settling for what a builder is offering in a specific neighborhood.
Whatever it is that you’re searching for, don’t do it alone – let us ensure you’re seeing EVERYTHING out there, and that all options are considered before moving forward. Even better, you can work with us FOR FREE and save THOUSANDS OF DOLLARS on the sale of your current home!
Let’s discuss your new home needs and get your search started ASAP!
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