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Real Estate Inventories

3 Months Ended

Mar. 31, 2019

3. REAL ESTATE INVENTORIES

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

	March 31,		December 31,
	2019		2018
Land and land development costs	$	7,919	$	9,741
Cost of construction (including capitalized interest and real estate taxes)		9,679		10,512
	$	17,598	$	20,253

As a result of our impairment analysis, for the three months ended March 31, 2019, the Company did not expense any feasibility, site securing, predevelopment, design, carry costs and related costs for its communities in the Washington, D.C. metropolitan area. There were $0.6 million of impairment charges recorded during the three months ended March 31, 2018 due to unsuccessful negotiations and market conditions.