(Disclosure: Rose Law Group represents Meritage Homes.)
By Karen Schutte | Real Estate Daily News
TUCSON, ARIZONA – Meritage Homes and DR Horton recently purchased a combined total of 227-lots recently in the Hanson Ridge area of Vail for an aggregate amount of $14.7 million.
The new Meritage community consists of 126-lots, all 40’ wide, in the subdivision known as Pabst Ridge for $7,812,000 ($62,000 per lot). This transaction closed on February 25th.
D.R. Horton closed on an addition 101-lots with a mixture of 40’ and 50’ wide in the subdivision of Weissman Ridge for $6,897,500 ($68,000 per lot). This transaction closed on March 11th.
According to Redfin, in February 2022, Vail home prices were up 19.4% compared to last year, selling for a median price of $375,000. On average, homes in Vail sell after 43 days on the market compared to 44 days last year. There were 47 homes sold in February this year, down from 55 a year ago.
