Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following reflects the disaggregation of revenue by primary geographic market, type of customer, product type, and timing of revenue recognition for the three months ended June 30, 2019 and 2018 (in thousands):

	Three Months Ended June 30, 2019				Three Months Ended June 30, 2018
	Builder Operations		Land Development		Builder Operations		Land Development
Primary Geographical Market
Central	$	79,168	$	8,452	$	68,892	$	10,692
Southeast	95,886		—		77,288		440
Total revenues	$	175,054	$	8,452	$	146,180	$	11,132
Type of Customer
Homebuyers	$	175,054	$	—	$	146,180	$	440
Homebuilders	—		8,452		—		10,692
Total revenues	$	175,054	$	8,452	$	146,180	$	11,132
Product Type
Residential units	$	175,054	$	—	$	146,180	$	—
Land and lots	—		8,452		—		11,132
Total revenues	$	175,054	$	8,452	$	146,180	$	11,132
Timing of Revenue Recognition
Transferred at a point in time	$	172,490	$	8,452	$	143,878	$	11,132
Transferred over time	2,564		—		2,302		—
Total revenues	$	175,054	$	8,452	$	146,180	$	11,132

Revenue recognized over time represents revenue from mechanic’s lien contracts.

The following reflects the disaggregation of revenue by primary geographic market, type of customer, product type, and timing of revenue recognition for the six months ended June 30, 2019 and 2018 (in thousands):

	Six Months Ended June 30, 2019				Six Months Ended June 30, 2018
	Builder Operations		Land Development		Builder Operations		Land Development
Primary Geographical Market
Central	$	163,593	$	15,482	$	141,338	$	14,691
Southeast	173,049		10		126,106		4,340
Total revenues	$	336,642	$	15,492	$	267,444	$	19,031
Type of Customer
Homebuyers	$	336,642	$	—	$	267,444	$	440
Homebuilders	—		15,492		—		18,591
Total revenues	$	336,642	$	15,492	$	267,444	$	19,031
Product Type
Residential units	$	336,642	$	—	$	267,444	$	—
Land and lots	—		15,492		—		19,031
Total revenues	$	336,642	$	15,492	$	267,444	$	19,031
Timing of Revenue Recognition
Transferred at a point in time	$	331,723	$	15,492	$	264,244	$	19,031
Transferred over time	4,919		—		3,200		—
Total revenues	$	336,642	$	15,492	$	267,444	$	19,031

Opening and Closing Contract Balances Included in Customer and Builder Deposits on Balance Sheet and Deposits Recognized as Revenue

Opening and closing contract balances included in customer and builder deposits on the condensed consolidated balance sheets are as follows (in thousands):

	June 30, 2019		December 31, 2018
Customer and builder deposits	$	31,578	$	31,978

The amount of deposits on residential units and land and lots held as of the beginning of the period and recognized as revenue during the six months ended June 30, 2019 and 2018 are as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Type of Customer
Homebuyers	$	7,180	$	5,423	$	9,840	$	7,016
Homebuilders	857		5		1,682		236
Total deposits recognized as revenue	$	8,037	$	5,428	$	11,522	$	7,252

Remaining Performance Obligation, Expected Timing of Satisfaction

he Company will recognize the remaining revenue when the lots are taken down, or upon closing for the sale of a land parcel, which is expected to occur as follows (in thousands):

	Total
Remainder of 2019	$	21,410
2020	27,871
2021	10,865
Total	$	60,146