Home Values and Sales in Covenant Hills are on the Rise
Posted by Amy Plotkin — October 18, 2012
Strong sales numbers and increasing home values have led to a stellar year for Ladera Ranch’s Covenant Hills. The scenic gate-guarded community of custom homes and homesites has undergone a tremendous amount of growth thanks to escalating interest in the unique and exclusive lifestyle it offers.
Covenant Hills total custom home sales transactions are up 450% year-to-date, from two sales in 2011 to nine sales in 2012. There are also three custom homes currently in escrow, one of which is listed at $3,725,000.
As Covenant Hills custom home sales have risen, so have custom home values in the community: over 30% based on average price per square foot for sold comparables 2012 year-to-date versus 2011 for the same time period.
In fact, within the last two months, three properties have sold at prices ranging from $2,650,000 to $3,650,000. Last year’s two sold transactions were priced around $1,800,000.
“The Covenant Hills market has definitely seen very promising activity this year,” explains Gary Legrand, President and CEO of Surterre Properties® – a leading real estate firm in Southern California that represents Covenant Hills custom homesites, among many other luxury properties throughout Orange County.
“We’re confident that as the economy continues to grow, so will values and sales here.”
The 2012 inventory of custom homesites remains stable as well – with nine lots available for sale during the previous year and ten currently available, further reinforcing the improving market in Covenant Hills.
Recognized as one of the most unique and exclusive communities in southern Orange County, homeowners are drawn to Covenant Hills for its open space and natural beauty. This extraordinary environment for relaxed living is exemplified in the community’s numerous parks, private recreation facilities, and hiking trails. Surrounded by more than 1,600 acres of pristine, protected ridgelines, many are surprised by how easily accessible Covenant Hill’s Ladera Ranch location is to Orange County’s beaches and shopping destinations. This combination of unparalleled lifestyle in such a panoramic setting is a true distinction of living in Covenant Hills at Ladera Ranch.
To reach Covenant Hills in Ladera Ranch from the I-5 Freeway in south Orange County, exit Crown Valley Parkway and proceed east approximately 2.5 miles to Antonio Parkway. Turn right onto Antonio. Turn right onto Covenant Hills Drive and proceed to the East Gatehouse. Signage will direct you to the Custom Sales Gallery, which is located at 63 Bell Pasture Road, Ladera Ranch, CA 92694.