Cottonwood Ranch Estates

In 2006, Cornerstone Homes (Avra Vista) developed 30 homes and Ducati (Cottonwood Ranch) developed 30 homes adjacent to and directly south of the subject property. All homes were built on acre lots. Cornerstone Homes range from 1,600-2,100 sq ft and Ducati homes from 2,000-2,500 sq ft. Since September 2019, four homes have sold, two in Avra Vista and two in Cottonwood Ranch. Average home sale prices range between $240,000-$300,000 per home. As of January 2020, no homes are listed for sale in either development. The Current median listing price for homes in this area is $327,900 and median sales prices for homes is $300,000 according to Realtor.com. There is a 30 percent plus price premium for new homes over existing homes. Based on this premium, it seems reasonable to assume that new homes built on the subject property should command average price points exceeding $300,000 One acre lots or entire assemblage available. Water and electric available to site, all lots engineered for septic.