Real Estate Inventories

3 Months Ended

Mar. 31, 2018

3. REAL ESTATE INVENTORIES

After impairments and write-offs, real estate held for development and sale consists of the following:


	March 31,		December 31,
	2018		2017
Land and land development costs	$	22,407	$	24,304
Cost of construction (including capitalized interest and real estate taxes)		20,603		20,407

	$	43,010	$	44,711

During the three months ended March 31, 2018, as a result of our impairment analysis, the Company wrote off $0.6 million of feasibility, site securing, predevelopment, design, carry costs and related costs for one of its communities in the Washington, D.C. metropolitan area due to unsuccessful negotiations and market conditions. There were no impairment charges recorded during the three months ended March 31, 2017.