New Construction vs Resale
New Construction vs Resale Homes, by City
Updated November 3, 2026
Reviewed by:
Head of Growth at TurboHome
Head Agent, California · CalDRE #01997822
Nationally, new homes have been selling for less than existing homes. Zillow's analysis, reported by HousingWire on September 29, 2026, put new homes at $205 per square foot versus $212 for existing homes in July 2026, with new homes at a discount in 17 of the past 19 months. NAHB data reported by Fortune on July 15, 2026 put the Q1 2026 median new home at $403,200 versus $404,600 for an existing home, the first inversion since 1974. NAHB's October 2026 survey found 43% of builders cutting prices and 65% offering incentives.
TurboHome Market Analysis · California and Texas · Closings November 2025 through October 2026 · Published November 2026
Our MLS closings show the answer depends entirely on the city. In the Texas suburbs where builders dominate, new homes closed cheaper per square foot than resales (Celina 13% less, Fulshear 12% less) and far below their original asking price: Celina, Richmond, Fulshear and Katy new builds all closed 11% to 12% below original asking, against 3% to 5% for resales. Inside Houston, new infill construction carries a 27% premium per square foot.
In California, master-planned cities like Irvine, Valencia and Rancho Mission Viejo sell new homes below the resale price per square foot, while San Francisco, Los Angeles and San Jose new builds carry premiums of 8% to 17%. Dallas and Austin new builds are 16% and 18% cheaper per square foot than resales, matching the Zillow metro figures.
New construction vs resale, city by city
Each row comes from that city's page, sorted from the biggest new-build discount per square foot to the biggest premium. The gap compares the median price per square foot of new construction with resale; a minus sign means new homes were cheaper.
| City | New $/sq ft | Resale $/sq ft | Gap per sq ft | New median price | Resale median price | New share of closings | New close vs original asking | Resale close vs original asking |
|---|---|---|---|---|---|---|---|---|
| Valencia (Santa Clarita), CA | $349/sq ft | $439/sq ft | -20.5% | $799,990 | $799,000 | 20% | 2.7% below original asking | 1.8% below original asking |
| Austin, TX | $244/sq ft | $298/sq ft | -18.1% | $520,000 | $560,000 | 13% | 6.0% below original asking | 6.4% below original asking |
| Dallas, TX | $213/sq ft | $252/sq ft | -15.5% | $433,500 | $460,000 | 11% | 2.6% below original asking | 4.3% below original asking |
| Celina, TX | $180/sq ft | $207/sq ft | -13.0% | $495,999 | $555,000 | 69% | 11.9% below original asking | 5.3% below original asking |
| Fulshear, TX | $168/sq ft | $190/sq ft | -11.6% | $400,000 | $585,000 | 71% | 11.6% below original asking | 3.6% below original asking |
| San Marcos, CA | $484/sq ft | $536/sq ft | -9.7% | $749,900 | $985,000 | 11% | 1.2% below original asking | 1.3% below original asking |
| Chula Vista, CA | $430/sq ft | $472/sq ft | -8.9% | $778,500 | $821,250 | 3% | at original asking | at original asking |
| Irvine, CA | $743/sq ft | $796/sq ft | -6.7% | $1,764,000 | $1,470,000 | 10% | 4.1% below original asking | 3.5% below original asking |
| McKinney, TX | $200/sq ft | $209/sq ft | -4.3% | $550,000 | $480,000 | 28% | 8.1% below original asking | 3.5% below original asking |
| Rancho Mission Viejo, CA | $605/sq ft | $629/sq ft | -3.8% | $1,313,750 | $1,199,000 | 26% | 2.7% below original asking | 1.6% below original asking |
| San Diego, CA | $649/sq ft | $670/sq ft | -3.1% | $1,184,900 | $925,000 | 1% | 0.4% below original asking | 1.3% below original asking |
| Conroe, TX | $151/sq ft | $155/sq ft | -2.6% | $290,000 | $332,000 | 49% | 7.9% below original asking | 3.7% below original asking |
| Georgetown, TX | $202/sq ft | $202/sq ft | 0.0% | $487,000 | $420,000 | 41% | 7.1% below original asking | 6.4% below original asking |
| Katy, TX | $161/sq ft | $159/sq ft | +1.3% | $335,000 | $351,150 | 37% | 10.6% below original asking | 3.2% below original asking |
| Fort Worth, TX | $179/sq ft | $173/sq ft | +3.5% | $348,185 | $327,000 | 26% | 3.0% below original asking | 3.2% below original asking |
| Oakland, CA | $582/sq ft | $560/sq ft | +3.9% | $930,000 | $813,750 | 2% | at original asking | 5.8% above original asking |
| Dublin, CA | $668/sq ft | $629/sq ft | +6.2% | $1,795,858 | $1,200,000 | 8% | 2.1% below original asking | 2.2% below original asking |
| San Jose, CA | $927/sq ft | $860/sq ft | +7.8% | $2,425,000 | $1,360,000 | 2% | 2.4% below original asking | at original asking |
| Kyle, TX | $171/sq ft | $158/sq ft | +8.2% | $324,990 | $292,000 | 66% | 7.4% below original asking | 6.0% below original asking |
| Los Angeles, CA | $798/sq ft | $732/sq ft | +9.0% | $1,600,000 | $1,130,000 | 4% | 2.0% below original asking | 1.8% below original asking |
| Richmond, TX | $175/sq ft | $160/sq ft | +9.4% | $418,565 | $360,000 | 40% | 11.9% below original asking | 3.8% below original asking |
| Frisco, TX | $255/sq ft | $225/sq ft | +13.3% | $795,250 | $630,000 | 13% | 6.3% below original asking | 4.1% below original asking |
| Cypress, TX | $185/sq ft | $160/sq ft | +15.6% | $423,884 | $405,000 | 34% | 9.1% below original asking | 3.2% below original asking |
| San Francisco, CA | $1,318/sq ft | $1,125/sq ft | +17.2% | $1,774,000 | $1,600,000 | 3% | at original asking | 10.6% above original asking |
| Houston, TX | $199/sq ft | $157/sq ft | +26.8% | $365,900 | $300,000 | 13% | 2.0% below original asking | 3.8% below original asking |
New construction vs resale by region
Bay Area
- San Francisco, CANew $1,318/sq ft vs $1,125/sq ft resale (+17.2%)See the full comparison
- San Jose, CANew $927/sq ft vs $860/sq ft resale (+7.8%)See the full comparison
- Oakland, CANew $582/sq ft vs $560/sq ft resale (+3.9%)See the full comparison
- Dublin, CANew $668/sq ft vs $629/sq ft resale (+6.2%)See the full comparison
Los Angeles and Orange County
- Los Angeles, CANew $798/sq ft vs $732/sq ft resale (+9.0%)See the full comparison
- Irvine, CANew $743/sq ft vs $796/sq ft resale (-6.7%)See the full comparison
- Valencia (Santa Clarita), CANew $349/sq ft vs $439/sq ft resale (-20.5%)See the full comparison
- Rancho Mission Viejo, CANew $605/sq ft vs $629/sq ft resale (-3.8%)See the full comparison
San Diego County
Dallas-Fort Worth
- Dallas, TXNew $213/sq ft vs $252/sq ft resale (-15.5%)See the full comparison
- Fort Worth, TXNew $179/sq ft vs $173/sq ft resale (+3.5%)See the full comparison
- Frisco, TXNew $255/sq ft vs $225/sq ft resale (+13.3%)See the full comparison
- McKinney, TXNew $200/sq ft vs $209/sq ft resale (-4.3%)See the full comparison
- Celina, TXNew $180/sq ft vs $207/sq ft resale (-13.0%)See the full comparison
Greater Houston
- Houston, TXNew $199/sq ft vs $157/sq ft resale (+26.8%)See the full comparison
- Katy, TXNew $161/sq ft vs $159/sq ft resale (+1.3%)See the full comparison
- Conroe, TXNew $151/sq ft vs $155/sq ft resale (-2.6%)See the full comparison
- Cypress, TXNew $185/sq ft vs $160/sq ft resale (+15.6%)See the full comparison
- Richmond, TXNew $175/sq ft vs $160/sq ft resale (+9.4%)See the full comparison
- Fulshear, TXNew $168/sq ft vs $190/sq ft resale (-11.6%)See the full comparison
Methodology
Each city page uses closings of single family homes, condos and townhouses from our MLS feed, closed November 2025 through October 2026, with implausible prices and sizes removed. A closing is counted as new construction when the listing was flagged as new construction or the home was built in the year of sale or the year before; everything else is resale. "Close vs original asking" is the median of close price divided by the original list price, so it includes price cuts made before the sale. Active listings on each city page are as of November 3, 2026. Published November 2026.
Related TurboHome guides
- California home buying guides
- Texas home buying guides
- Best time to buy a house, by city
- Down payment on a house, by city
- How long it takes to close, by city
- HOA fees by city
- Best first-time buyer neighborhoods, by city
Buy new or resale in California and Texas with a flat-fee buyer's agent
About the Author
Vinura Abeysundara
Vinura Abeysundara is a real estate and growth professional with experience scaling homebuying platforms across Canada and the United States. Formerly Head of Growth at Zown, he now works with TurboHome and writes about homebuyer savings, flat-fee real estate, commissions, and technology in real estate.
View Vinura on LinkedInAbout Kevin Kretzmer
Head Agent, California
Kevin Kretzmer leads TurboHome's California agent team and reviews California and national buyer guidance for practical brokerage accuracy.
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