With that said, we thought it would be a good idea to compile a mid-year state-of-the-market report and publish it to our website for review. Like traditional market reports of years past, we’ll provide you with the raw data and a fair amount of color commentary, but ultimately, we want you to draw your own conclusions based on our unvarnished statistics. 

We hope you enjoy and find our mid-year 2026 market report useful and informative. And if you’d like to discuss it, or have any questions whatsoever, I welcome you to reach out any time.

The First-Half Story

Coming off a steady and strong 2025, we entered 2026 with genuine momentum and an outlook that felt, for the first time in a while, refreshingly normal. Interest rates had eased, tariff and tax policy had largely settled, and the confidence that returned in the back half of last year carried right into the new year. That optimism showed up early: lot activity was brisk through the first quarter, and buyers who had spent much of the prior cycle waiting on the sidelines were ready to move.

The second quarter told a slightly different tale. As can sometimes happen following a fast start, activity cooled a bit through the spring, particularly on the lot side of transactions. It’s difficult to say why the spring was quieter, but it’s worth noting that the pare down in activity coincided with our nation’s joint military activity against Iran and their looming nuclear threat. Additionally, and probably related to our exercises in the Middle East, interest rates that were showing signs of retreating, strengthened and haven’t really moved in a market-positive direction since. 

It’s worth remembering that the extraordinary pace of the pandemic years was always going to be difficult to repeat, and while we saw a bit of a slowdown in Q226, what we’re seeing now looks a lot like a healthy reversion toward pre-2020 rhythms, albeit at meaningfully higher price points. Encouragingly, as we turned into the early part of the third quarter, we began to see a good uptick in lot interest and a continuation of strong home sales, especially toward the higher end.

Through the first six months of the year, Cordillera Ranch recorded 47 total lot and home sales. That’s down 23% from the same period a year ago, but it lands almost exactly in line with the full-year 2025 pace — we finished 2025 with 93 sales, and 47 at the midpoint keeps us right on track. In other words, the headline decline reflects a tough comparison to a strong 2025 far more than any real softness in demand.

The First-Half Data

On the lot side, 25 homesites traded through June 30, at an average price of roughly $375,000. That average is the fifth highest on record and, while down from the $428,000 mark set in 2025, it remains about 47% above the 2016–2020 average. Part of the pullback in the average simply reflects the mix: several resale lots changed hands below the $300,000 level during the first half, which naturally pulls the number down. 

Homes told an even more encouraging story. Twenty-two homes sold across the community in the first half; down 21% year-over-year, but again ahead of the full-year 2025 pace of 39. More striking is the pricing — the average home sale price reached approximately $2.12 million, the second highest first-half figure on record and within $10,000 of the all-time high set in 2024. That’s up 59% from 2020 and roughly 98% above the 2015–2019 average. On a per-square-foot basis, homes averaged a record $455/SF for the first half of the year.

A couple of the community’s long-running premiums held firm throughout the first half of 2026: resale values for Preferred Builder homes and homes with Master Full Golf Memberships. Homes built by our Preferred Builders continued to command roughly an 18% resale premium on a per-square-foot basis versus non-Preferred-Builder homes. Additionally, homes conveying with a Master Full Golf Membership have carried about an 11% per-square-foot premium so far in 2026 ($498 with MFG vs $450 without MFG), consistent with the roughly 22% average premium we’ve tracked since 2019. Both metrics are real, recurring signals of the value our builders and our membership continue to create for owners.

From a brokerage standpoint, the CR Realty team has continued to stay at the center of the action in 2026. We were involved as the listing brokerage, selling brokerage, or both in 30 of the 47 lot and home transactions, or 64% of all activity. That includes 75% of total lot transactions (roughly 18 of 25 homesites) and 55% of all home-sale transactions. It’s a level of involvement we’re extremely proud of, and one we believe reflects the depth of local knowledge we bring to every side of a deal.

New Home Construction

New home construction has continued the strong pace we’ve seen over the past several years. At mid-year, 41 homes were either Under Construction or Approved to Start, and 40 of those 41 are already sold. The Preferred Builder story remains central here as well — 68% of homes currently Under Construction are Preferred Builder homes, and the top four spots by active homes Under Construction are all held by Preferred Builders. That same 68% figure holds for homes in Design Review, and it has stayed steady since the start of the year.

Development Update

Progress on the development front continues to roll along with roads being fully completed in Unit 305 in The Springs, Hawk Canyon near the Highway 46 Main Gate, and Units 220 and 201C in Clubs Village. Each of those units (which still have incredible homesite options available, by the way) have also seen homes begin construction and residents move in. 

Looking ahead, we’re especially thrilled about what’s coming next. 

The Majors will be a new, gated enclave of 18 homesites in Clubs Village with sweeping views, near the Clubhouse and our Jack Nicklaus Signature Golf Course. We can’t wait to share more information with you about The Majors this fall, so please keep an eye out for exciting details about this newest offering and the story behind its name. 

What Say You?

Taken together, the first half of 2026 has us on pace for a 12th consecutive year above the $100 million mark in total real estate activity — and a 7th straight year above $150 million — with about $81 million already transacted across lots, homes and new home starts through June 30. That’s a remarkable run of consistency, and it speaks to the enduring appeal of this community.

If I had to describe 2026 in a word, I would choose solid. A fast start, a little quieter than normal spring, and very encouraging early signs heading through the summer and into the fall. As you have the opportunity to digest our latest report, I look forward to YOUR interpretations and welcome an opportunity to discuss them with you at some point soon.