Lots to Talk About…and Homes, too!
Sales in 2021 were the strongest ever with 200 lots sold totaling $70MM and 60 homes sold totaling $100MM. Highlights follow (all sales data below represents closed lots, including developer and resale lots, and homes):
- 2021 lot sales alone were up 260% over the previous year
- More lot sales in the first six months of 2021 than any entire calendar year in the 23-year history of Cordillera Ranch.
- 2021 average lot sales price of $365,000.
- All five Cordillera Ranch Agents were in the Top 5 for resale lots sold in 2021
- 2021 home sales remained relatively flat compared to 2020 due to lack of inventory.
- 2021 average home sales price (resale homes only) of $1,788,000 is up $450,000 (34%) over 2020, and $650,000 versus the previous five-year average.
- Average sales price per square foot is up $103/sf ($366/sf in 2021 compared to $262/sf in 2020)
- Resale home inventory remains at an all-time low with 9 homes in Active status in MLS ranging from $1.2MM to $4.8MM (median of $2.2MM); list prices per square foot range from $302/sf to $725/sf with a median of $428/sf
- Four out of five Cordillera Ranch Agents were in the Top 5 for resale homes sold in 2021.
New Home Construction
All of this good news related to development and lot sales has led to an increase in new home construction on top of the building boom that we’ve been experiencing for the last couple of years.
There are currently 153 homes under construction or in design review with the Architectural Review Committee; 59 of those are under construction/approved to start and 94 are in design review. A breakdown of the quantity of new homes by area follows:
Although Mayacama Estates (located in Clubs Village) sold briskly with six of ten lots contracting prior to commencement of road and utility construction, the hottest area of the community in 2021 was The Springs with 83 lots sold. In fact, three of our 2021 offerings in The Springs — Units 301C, Unit 302, and 302A — totaling 54 lots, were completely sold before paving and utilities were completed. If you haven’t visited The Springs lately, drive through to see how Cordillera Ranch is evolving. You’ll be amazed by the continued, rapid development and new home construction.
The 3rd phase in The Springs includes two units totaling 72 lots. Unit 303 will consist of 15 lots and Unit 304 will consist of 57 lots, 14 of which sold in late 2021. Unit 304 is immediately north of Unit 302, abuts the south side of Edge Falls Road and continues towards the Guadalupe River to the east (though none of the initial release of lots will front on the Guadalupe River). Unit 303 is northeast of Unit 302 overlooking the Panther Creek Canyon.
These two phases have some incredible new property types that we haven’t offered previously in The Springs. 12 of the lots in this phase will be in the 5 to 6+ acre range with gentle terrain and thick native grasses, so they will be perfect for equestrian estates. We also have some of the best view properties, creek-bluff properties and large estates we’ve ever offered anywhere on the Ranch. Overall, lot sizes range from roughly 2 to 6+ acres in these units.
All Unit 303 and Unit 304 lots will have central water; some will have central sewer, while others will require on-site septic. New properties in this third phase will be available for purchase with more releases through 2022. Construction of the streets and utilities are on schedule to commence in early 2022.
With 125 homesites sold to date, The Springs and its beautiful parks, heritage oak trees, scenic canyon bluffs and meandering trails have captured the hearts of many people seeking their Hill Country dream home.
Contact us for a private tour of our newest release of estates to experience why so many people have realized that Life is Better Out Here in The Springs.
Learn more at: Cordilleraranch.com/springs.