Sales in 2021 are the strongest ever… in the first six months of 2021, 163 properties (homes and lots) sold in Cordillera Ranch! Highlights for the first half of 2021 follow (all sales data below represents closed lots and homes):
- Lot sales alone were up 490% over the prior year (112 combined resale and developer lots sales closed in the first six months)
- More lot sales in the first six months of 2021 than any entire calendar year in the 23-year history of Cordillera Ranch.
- Average lot sales price of $322k
- Home sales were up 62% over the same period the prior year.
- Average home sales price (resale homes only) of $1,628,000 is up $500,000 versus the previous five-year average.
- Average sales price per square foot is $340/sf (compared to $225/sf in the same period last year).
- Resale home inventory remains at an all-time low with 11 homes on MLS ranging from $1.6MM to $4.9MM (median of $2.6MM).
- The homes on MLS range from $370/sf to $748/sf with a median of $454/sf.
Although Mayacama Estates (located in Clubs Village) has sold quickly with seven of ten lots contracting prior to commencement of construction, the hottest area of the community in 2021 has been The Springs. In fact, our most recent offering in The Springs — Units 301C, Unit 302 and 302A — totaling 54 lots have all completely sold — before paving was completed.
The third 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. Unit 304 is immediately north of Unit 302 and will abut the south side of Edge Falls Road and continue 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. The first 21 lots in this third phase of The Springs are now available for purchase; construction of the streets and utilities are on schedule to commence in late 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 few years.
There are currently 129 homes under construction or in design review with the Architectural Review Committee; 48 of those are under construction and 81 are in design review. A breakdown of the quantity of new homes by area follows:
- Clubs Village: 20 homes under construction and 30 in design review (averaging ~5,200 square feet)
- The Ranch (excluding Clubs Village or The Springs): 20 homes under construction and 32 in design review (averaging ~5,000 square feet)
- The Springs: 5 homes under construction and 19 in design review (averaging ~4,200 square feet)
- Di Lusso Villas: 3 homes under construction (averaging ~4,000 square feet)
- Average size of all areas is ~5,000 square feet
Strong lot and home sales, a variety of beautiful new properties and booming home construction have Cordillera Ranch poised for long-term continued success. For more information on how you can get involved, please reach out to our CR Realty team at 888-66-Ranch or firstname.lastname@example.org.
Cordillera Ranch Realty