NEWPORT BEACH — Home builder Baldwin Co. said Thursday that its revenue from home sales jumped 42% for the third quarter.
The privately held company, based in Newport Beach, said unaudited results indicate that it sold 153 homes during the three months ended Sept. 30, bringing in revenue of $31.9 million. That compared to $18.5 million in revenue from the sale of 82 homes for the same period a year earlier.
The average selling price, however, declined to $208,000 from $226,000, mostly because a larger proportion of the sales for the latest quarter were of more modestly priced townhomes.
Baldwin Co. also had revenue of $29.2 million from land and model-home sales for the latest quarter, boosting its total to $61.1 million. That compared to total revenue of $21.1 million for the same period last year.
