The first couple months of 2020 have brought a high volume of real estate activity in Tetherow. Land sales have dominated, with 14 sold or pending as of this writing. At this time last year, the number of sold and pending properties was 9. At this pace, with 7 Heath lots and 14 North Forty lots remaining, there will be no more developer inventory at this time next year.
When we are looking at stats over the last year, Tetherow real estate has continued to show strong numbers. In the last 12 months, 102 properties have gone pending or sold. This number has stayed fairly consistent and is in line with the average year of 90-105 solds/pendings for the year.
More custom homes are coming to the market for the first time and continuing to push the average price higher. With a fairly small sample set of homes selling every month and with a range in pricing from vacation homes near $500k to custom homes in excess of $2M, it is hard to identify a trend looking at only at average sale price.
However, we can see the trend when looking at price per foot (see chart). Although price per foot isn’t always the best metric to use, it does represent a combination of higher build costs as well as a larger number of high-end and custom-built home sales.
For an updated look at what is available in Tetherow, please click the links below.