Tons of New Developments in the area. Good or bad?

[Talha Ahmed]

Hi y’all, first time poster.

I live in Aurora, IL and have noticed that over the past few years there have been TONS of new Developments being built, mostly duplexes. 

And by tons I mean legitimately 4-5 different projects with what look like 15-30 properties each.

with such a big number of new Developments being built, often selling  for what I feel like is over market price, what do you think this means long term for real estate in the area?

my initial thoughts were that more opportunities and competition would degrade and lessen value of other properties. That being said, there must be something said about what is making all these different developers start projects here.

also, follow up question. do you guys think it’s worth buying one of these since they will likely be newer and in better shape that Whats already out there, even though it’s over priced?

Thanks!