Changing landscape? Will McMansions soon disappear?

Warwick — A recent article in The New York Times Real Estate section posed the question: Are McMansions going out of style? You’ve seen the McMansions — lots of them — here in Warwick. They are the jumbo houses that have been dotting suburban landscapes for the past decade and a half. Listen to these statistics. In 1970, the size of the average house was 1,500 square feet. In 2001, that average had jumped to 2,300 square feet, according to the article. In the following three years, that average stayed pretty much the same. But, for the second quarter of 2005, the average new house grew to 2,400 square feet. And those are national averages. Just look at the new construction here in Warwick. At the corner of County Route 1 and Sanfordville Road, the upscale development, Pelton Crossing, has broken ground on its reported $1 million homes. The Horizon Farms development in Pine Island, with much larger than average homes, continues to be one of the most sought after places to live in Warwick since they were built over a decade ago. The new houses along Colonial Avenue also are majestic in size. Maybe the end of larger houses hasn’t hit Warwick just yet. “If this is happening, I don’t necessarily see it in Warwick yet,” said Cary Mitsos, a top real estate agent with Coldwell Banker Currier and Lazier. “People are still moving up here for the big houses and the big land,” said Kathy Piergiorgi, Mitsos’s colleague at Coldwell Banker. “The only thing holding some of them back is the economics.” By that, she means gas prices, for example. They are asking themselves ‘Is the commute worth it with gas prices?’ But gas prices are coming down slowly. Piergiorgi has not seen a lack of interest in the bigger houses at all because of gas or anything else for that matter. “I think, eventually, people will be downsizing as the population ages,” Mitsos added. “But it hasn’t happened yet. I’m sure it’ll get here, if it’s happening across the country. It just hasn’t gotten here yet.” The market for condos has certainly increased phenomenally. People are listing them and selling them in the same week. “Lots of buyers are coming up here looking to spend $300,000 or less on a house. They might have been able to do it five years ago, but not now. That is one of the reasons our condo market is super hot,” Mitsos said. The New York Times article also noted that people buying new houses are sometimes opting for a “smaller” big house with more amenities rather than the largest they can afford with no upgrades. “I agree with that,” said Mitsos. “People shy away from bare bones houses. But they are still big houses.” What keeps the megasize housing market going? Well, for one thing, mortgage rates are still very attractive. Although they have inched higher than they were for the past couple of years, they remain a bargain. And there is still ample land here in Warwick on which to build your dream house.