Homes Sales Nearly Double 2014 Pace, Estimated $50 Million in New Construction Underway
(BOERNE, Texas) – Cordillera Ranch – the premier luxury community in the scenic Hill Country – reports 2015 real estate sales continue the torrid pace reported earlier this year.
Following February news of an upward trend in sales and pricing, homes sales in Q1 and Q2 have nearly doubled year-over-year (28 to 15). Price per square foot has also increased ($194 to $216), while days on the market dramatically decreased from 262 to 155. Overall, in the past 12 months there have been over $100MM in new home starts and lot and home sales in Cordillera Ranch.
Considered one of the most desirable Hill Country addresses, Cordillera Ranch currently reports 39 homes under construction, totaling more than $50 million in new starts – easily the highest total of any upscale community in the San Antonio area. Of the 39, 36 are sold and three are spec from the community’s six preferred builders – Authentic Custom Homes, Burdick and Christofilis, Robert S. Thornton, Stadler Custom Homes, Partners in Building and Garner Homes.
Lot sales in 2015 have also been strong, maintaining pace with the previous year’s blistering 32% lift and increasing in price by 6% over 2014.
“New home sales and associated builder sentiment is surging throughout the country to pre-Recession levels,” says Charlie Hill, Vice-President of Development at Cordillera Ranch. “Given our award-winning amenities and exceptional team of builders, we expect sales at Cordillera Ranch to remain strong for the foreseeable future.”
Cordillera Ranch currently boasts nearly 47 homes on the market ranging from $500K to $4 million, with an average list price of $1.57 million ($288 per square foot).
Community honors continue to roll in, helping to trigger 2015’s scorching-hot sales figures. The Dallas Morning News ranked the community’s Jack Nicklaus Signature golf course top-5 in Texas for the seventh consecutive year, and Where to Retire Magazine named Cordillera Ranch one of the “50 Best Master-Planned Communities in the U.S.”
At build-out, the low-density Hill Country community will total approximately 2,500 homes and preserve approximately 80% of the land in its natural state. Its seven clubs (in one membership) include Golf, Tennis and Swim, Spa and Athletic, Social, Rod and Gun, Equestrian and River and attract a wide array of buyers throughout Texas and nationally.
“Awards and accolades have been key to spearheading our outstanding sales growth,” says Director of Sales Barry Denton. “They have also helped fuel Cordillera Ranch’s status as one of the premier places to live in the country.”
About Cordillera Ranch
Cordillera Ranch is an 8,700-acre master-planned residential community located north of San Antonio in the Texas Hill Country. It offers residents on-site recreational activities and boasts 0.25-acre villas, one- to 10-plus acre estates, including valley view, golf course, Guadalupe River frontage and hilltop home sites.
Residents of the gated community can join The Clubs of Cordillera Ranch, featuring seven resort-style clubs in one location – The Golf Club, The Social Club, The Tennis and Swim Club, The Equestrian Club, The Rod and Gun Club, The Spa and Athletic Club and The River Club. Cordillera Ranch is undertaken by Cordillera Ranch Development Corp., a subsidiary of Texas-based DH Investment Company.
For families with school-aged kids, the community is situated in the prestigious Boerne Independent School District. Newsweek recently ranked both Boerne ISD high schools among the top 3 percent in the country. Also, an education analysis group listed five Boerne ISD elementary schools among the eight best in the San Antonio area, including the top four spots.
And then there’s San Antonio – recently ranked 10th in the Milken Institute’s “Best Performing Cities” list, which evaluates small and large cities by tracking job growth, wage and salary growth, and the size and concentration of high tech industry. Also, the U.S. Census Bureau recently tabbed Boerne as one of the fastest-growing areas in the country.