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March sales strong, continue flush of existing inventory

April 7, 2013 By Leave a Comment
Corbett's Couloir is closed for the season, but there is still plenty of snow at 10,000 feet.

Corbet’s Couloir is closed for the season, but there is still plenty of snow at 10,000 feet.

In March, several longtime listings finally fell off the Teton County Multiple Listing Service after finding buyers, fueling a big finish to the first quarter of 2013 that saw significant increases compared to 2012.

No longer offered are these properties, which as a regular researcher of Jackson Hole real estate I had come to take as granted in recent years:

  • A 4,000-square-foot home in Shootin’ Iron Ranches on market for 1,632 days, which dates back to Sept. 30, 2008, originally listed for  $3.675 million with a final list price of $3.095 million.
  • Teton Mountain Lodge unit 132 sold after 1,901 days on market, falling from an original listing price of $1.05 million to $459,000.
  • An approximately 5,000 square foot home in Flat Creek Fishing Club on 7.94 acres and on market for 955 days. Originally listed for $3.495 million, sold in March for close to the final list price of $2.975 million.
  • Another five properties sold after being on market for more than 600 days, including a 4,574-square-foot home in Jackson Hole Golf & Tennis that sold for more than $1 million less than its original list price of $3.395 million.
  • Average days on market for all sales in March was just shy of a year at 362 days.

Overall, there were 38 reported sales in March for an approximate sales volume of $50.4 million. (This includes three unreported sales with a total list volume of $21.4 million. Total includes 90 percent of these unreported sales.). Unit sales rose dramatically compared to March 2012, when just 25 properties sold for approximately $26.3 million in sales volume.

Still a few months from this scene, but it won't be long.

Still a few months from this scene, but it won’t be long.

First quarter 2013 also is dramatically ahead of last year, with the 93 unit sales 36 percent more than the first three months of 2012. Teton Village deserves much of the credit, with more sales in March 2013 (six) than all of 2012 through April 1.

March sales highlights include:

  • Just two building site sales; one in Melody Ranch listed at $325,000 and an Owl Creek lot listed at $1.45 million.
  • No sales below $200,000 and just three below $300,000, including one in Alta, WY, one in South Park and one in Town of Jackson.
  • The top sale was a 6,600-square-foot home on 100 acres north of Jackson and adjacent to the Snake River, listed for $16.9 million. A high-ticket item to be sure but marked down from $32 million in 2008.

Please contact me to discuss the details of this post our your personal real estate goals in Jackson Hole.

 

Filed Under: Jackson Hole News, Market statistics Tagged With: , , , , ,

Sales rise in January, but high end takes break

February 4, 2013 By Leave a Comment
Jackson Hole has been a winter wonderland of late, with both crisp and clear days and huge storms that last days.

Jackson Hole has been a winter wonderland of late, with both crisp and clear days and huge storms that last days.

The Jackson Hole real estate market may have partied like it was 2007 in December, but only high-end buyers seemed to feel a January hangover.

Unit sales for the month increased from 22 to 24 (9 percent) compared to 2012. However, sales volume dropped dramatically from $33.2 million to approximately* $19.3 million (40 percent).

The average sales price in January, according to the latest data from Teton County Multiple Listing Service, was about $805,000, well below the $2.24 million ASP posted in December and the $1.38 million ASP for all of 2012. In December there were 19 sales for more than $2 million. In January, there were just two above $1.8 million.

Interestingly, while ASP and sales volume dropped significantly, there were no residential sales for less than $275,000 (an East Jackson single-family home) and the least-expensive townhouse or condo sale was for $289,000.  In 2012, there were approximately 41 home sales below $285,000, all of them condos or townhouses.  In 2012 the least-expensive single-family home in Teton County closed for $340,000.

Skiing on Teton Pass has been fantastic, though avalanche danger has been high in recent days.

Skiing on Teton Pass has been fantastic, though avalanche danger has been high in recent days.

Additional highlights from January’s residential sales include:

  • The median price in January was $750,000, down from the median in 2012 of $850,000.
  • Town of Jackson was very active, with the 9 least-expensive sales (up to $625,000) and 11 of the 17 overall residential sales.
  • The top sale was a Teton Pines home with 5 beds on 0.66 acres listed for $3.68 million that sold in just 50 days.
  • The next highest sale was a Hotel Terra condo listed at $1.2 million that closed after 1,482 days on market. Contact me for a detailed look at the Teton Village condo-tel market, including properties in Teton Mountain Lodge, Four Seasons Jackson Hole, Hotel Terra (both phases) and Crystal Springs.

Vacant land accounted for nearly a third of all Jackson Hole property sales with 7 closings, continuing a solid resurgence for this market segment.  Building site sale highlights include:

  • The two least-expensive Town of Jackson lots on the market, including a 0.17-acre lot on Simpson Street listed for $269,000, sold for nearly 100 percent of list price after just 42 days. Another lot on the same street with less buildable acreage sold for about 20 percent less after nearly four years on the market.
  • The two least-expensive property sales in January were building sites.
  • Two approximately 5-acre sites in the Woodside Estates subdivision near Jackson Hole Golf & Tennis sold after about 20 months on market. List prices were $1.495 million and $1.8 million, with finals sales prices unreported.
  • A 1.18-acre lot in Shooting Star in Teton Village on the banks of Fish Creek listed for $2.45 million.

Contact me for a personalized look at Western Wyoming properties from Jackson to Pinedale to Alpine and everywhere in between.

* Total sales volume is estimated based on 90 percent of list price for properties not reporting final sales price. In January there were 6 unreported sales prices.

 

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Gulp! Buyers gobble up only Jackson Hole home below $225,000

January 25, 2013 By Leave a Comment
This 2-bed home in Melody Ranch is one of 14 single-family homes available for less than $500,000 in Jackson Hole.

This 2-bed home in Melody Ranch is one of 14 single-family homes available for less than $500,000 in Jackson Hole.

The recent listing of a 2-bed condo in Town of Jackson for $124,900 provides insight into the current entry-level real estate market in Jackson Hole.

Located in Ponderosa Village, a mid-1970s development with more than 60 units, the 644-square-foot property immediately received a half dozen offers. A contract was in place in about a week, presumably for an amount above asking price.

Why the feeding frenzy for such a modest, upper level unit in one of the valley’s densest neighborhoods? Simply, low supply, high demand for affordable home ownership from Jackson’s working class and a consensus that the bottom of the market has clearly come and gone.

The next least-expensive, full-ownership residential unit in all of Jackson Hole, a 500-square-foot studio in Teton Village, is listed for $100,000 more at $225,000. Currently there are only 11 homes listed for below $300,000, a number that spiked to 39 units in December 2011. By April 2012, that number was 28 and it has been falling steadily ever since.

For additional context, the number of units listed below $300,000* in 2008 in Town of Jackson was zero. None. Not a single one. By December 2009, as the Great Recession deepened, there were 26 with the least expensive a 1-bed, 1-bath, 434-square-foot condo on Kelly Avenue listed for $242,000.

The Aspens, a very active market of late, offers 8 units listed for less than $500,000.

The Aspens, a very active market of late, offers 8 units listed for less than $500,000.

By April 2010, the bar lowered to $206,900 for a Ponderosa Village listing, and then kept falling. And falling. The market finally reached bottom in August 2011, when a “Pondo Condo” sold for $98,000, the first Teton County residential sale for less than $100,000 recorded in more than 11 years. (Another bank-owned Pondo Condo sold for $78,500 in March 2012, but is not a strong comparable sale as the unit had significant damage.)

* For a running history of this market, enter “$300,000” in the search function of this site to read several articles going back to 2009, the year this site was launched.

Now, the pendulum has swung back with very few options for working families. Those looking for entry-level housing in Jackson Hole must be ready to move immediately upon news of an appropriate property becoming available. This means establishing a relationship with a lender, if a loan will be needed, to understand exactly how much home a buyer can afford. A lender can also provide a pre-qualification letter, which significantly strengthens an offer and is often required. It also is critical to have a strong understanding of current values and market trends so an appropriate negotiating strategy can be agreed upon quickly.

Snake River Lodge and Spa in Teton Village currently offers two listings for less than $500,000.

Snake River Lodge and Spa in Teton Village currently offers two listings for less than $500,000.

With values expected to rise slowly, low inventory is likely to continue for several quarters to come. Working with an experienced Realtor with an ear to the ground and a hands-on understanding of this market can be an invaluable resource. I can provide a list of trusted local lenders, in-depth market analysis that is up to the minute and the experience necessary to smoothly negotiate any transaction. I track properties coming to market via the foreclosure process and often become aware of other properties coming to market in the near future.

Additional highlights in the current Jackson Hole real estate market below $500,000 include:

  • There are 53 residential listings for less than $500,000, 35 for less than $400,000.
  • Eight Teton Village listings, including 3 Teton Mountain Lodge condos and 2 Snake River Lodge and Spa 1-bed units listed at $330,000.
  • Only two units listed below $300,000 have garages. One is a Clusters unit in West Jackson, the other a townhouse in Rafter J.
  • Two single-family homes are listed below $325,000, both near Hoback Junction. Both are 3-beds, no garage.
  • There are 14 single-family homes listed below $500,000, or 30 percent, with 6 in Town of Jackson.
  • There are 8 Aspens condos listed below $500,000. This neighborhood near Teton Pines has been very active and deserves its own blog post.

Contact me with your Jackson Hole real estate questions or to receive regular updates on the market in your email.

 

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Rolling into Q4: 47 Teton County sales in October

November 7, 2012 By Leave a Comment

Time for buffalo to stock up for winter! Indian summer won’t last much longer …

Another month, another big set of numbers for Jackson Hole real estate sales.

October unit sales jumped 17 percent from 2011, with 40 residential closings and 7 building site sales. Sales volume rose even more dramatically, increasing 78 percent to approximately $68.1 million, according to Teton County Multiple Listing Service.

Driving October’s surge was the sale of a 12,340-square-foot home in Crescent H listed at $18.95 million, the largest residential sale in 2012. Final sales price was not reported, as were seven other listings that closed last month. (The total list price of unreported sales was $37.5 million; sales volume figures above represent 90 percent of final list price for these properties and actual sales prices for other units sold.)

Time is also running out for a quick dip in a Jackson Hole trout stream …

At the lower end of the market, 18 sales were reported below $500,000, an encouraging sign after several months of waning sales in this segment. Interestingly, six of these sales were older homes in Town of Jackson that seem ideal for investors looking for income properties (long-term rentals) or potential redevelopment projects.

Teton Village reported four sales ranging from a 2-bed, 792-square-foot condo that sold for MORE THAN the list price of $260,000 to a 3-bed, 3,172-square-foot condo in Four Seasons Jackson Hole listed for $3.95 million. A 2-bed Four Seasons condo listed for $1.72 million also sold for just under $1,000 per foot, as did a 3-bed, 1,388-square-foot condo that closed for $485,000.

The Aspens, located on the Teton Village Road about three miles from Jackson Hole Mountain Resort, also reported steady activity, reporting three sales including a 2-bed, 1,206-square-foot townhouse for $457,500.

Even the moose are making the most of the few warm days before winter!

The least-expensive property to change hands in October is a 2-bed, 744-square-foot condo in Meadowbrook (downtown Jackson along Flat Creek) listed for $169,000.

Want to see the MLS sheets for these listings? How about a current list of active listings personalized for your market segment? Please contact me today to receive a market analysis and sign up for regular market updates.

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August sales extend hot summer for JH property

September 15, 2012 By Leave a Comment
outhouse

Even this home, if it was priced right, might have found a buyer this summer.

July was one of the best months in years for real estate sales in Jackson Hole. August was almost as strong, with 43 residential and building site closings for an approximate* sales volume of $48.4 million.

August sales in 2012 easily exceeded the previous year, rising 53 percent in unit sales and jumping more than 75 percent in sales volume. The median sales price rose to $810,000 from $526,000 in August 2011; average sales price rose less dramatically from just below $1 million to approximately $1.125 million.

Buyers continued to scoop up well-priced properties in all market segments with the low sale of the month at $113,274 for a 1-bedroom condo in Town of Jackson to a riverside home on 43-acres listed at $9.95 million. Coincidentally, August 2011 saw a similar spread in sold prices with the low end at $95,000 and the high sale at $9.5 million.

Highlights from Teton County sales in August include:

Stagecoach Town Square

Town Square was as busy as ever this summer with retailers reporting strong sales.

  • Nine building sites closed, bringing the yearly total to 44, the highest annual total since 2007.
  • Only 3 sales closed below $351,000, signaling a slow down in the lower end that is due mainly to low inventory.
  • Three Miller Park lofts closed in August. The newly constructed 1-bed condos near downtown were listed between $347,000 and $361,000.
  • A bank-owned 3-bed Melody Ranch home closed ABOVE the list price of $409,900 after less than a month on the market. This listing was unique in that it was originally a deed-restricted home prior to foreclosure, but free market after completion of the redemption period. This became the lowest sales price ever for a free market home in this subdivision.
  • Town of Jackson was by far the most active region with 13 sales overall and 11 of the 12 lowest sales prices.
  • Nine properties closed for more than $2 million, including 6 residential units and three vacant lots.

Want to know more about where the market is today and where I think it will be next month? Please contact me for links to the information above or a more personalized look at the Jackson Hole real estate market.

*Sales figures are provided by Teton County Multiple Listing Service and all data is deemed accurate. Several sales prices were not reported. To determine approximate totals 90 percent of list price was used.

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Big April for Jackson Hole real estate

May 8, 2012 By Leave a Comment

Spring has finally sprung in Jackson Hole, with new listings, like this one in Melody Ranch, arriving as fast as aspen leaves.

Sales volume jumped approximately 22 percent in April to $40.6 million, compared to April 2011, on 26 unit sales. Jackson Hole real estate unit sales for April were flat year over year.

The high end was very active in April compared to recent months that saw a surge in entry-level residences in Town of Jackson. Ten of the sales were above $1.85 million, and in nearly every case the property sold after years on market and significant discounts from original list price.

  • Bar BC Ranch closed two large building sites (44 and 53 acres) listed for a total of $15.4 million. Sales prices were not reported.
  • The top residential sale was for an 8,300+ square foot home on 7.5 elevated acres south of Wilson near Mosquito Creek listed for $7.995m. Property has been on and off the market since 2008, originally listed for more than $12 million.
  • The second-highest sale also was on the market for more than 1,000 days, a Granite Ridge townhouse on the slopes of Jackson Hole Mountain Resort in Teton Village. The 5-bed unit was originally listed for $4.6 million in October 2008, reduced to $3.4 million prior to sale.
  • Originally listed for $3.995 million in 2008, a nearly 6,000-square-foot home in Schofield Patent near Wilson sold for less than the final list price of $2.295 million.

    The Snake River had a few good days of fly fishing in April, but water will be off-color for the next few weeks.

Once again building site sales were steady, with five sales. In addition to the two Bar BC Ranch sites, two vacant lots were sold in Karns Hillside subdivision, located on the flanks of Snow King Mountain in Jackson.

The fifth building site sale was for a 0.63-acre site on Granite Ridge after 468 days on market at more than 25 percent off original list price of $2 million.

Last month’s numbers come with the caveat that six sold prices were not reported to Teton County Multiple Listing Service, with all but one of the properties listed above the median sale price of approximately $800,000. Volume totals in this report represent 90 percent of list price.

Contact me for more personalized real-time Jackson Hole real estate research.

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Low-end Jackson Hole homes in high demand

April 17, 2012 By Leave a Comment

As the town of Jackson transitions from winter to spring, the low end of the market is dominating unit sales.

The price has been right for entry-level Jackson Hole homes in recent months, with the inventory of properties listed at or below $300,000 decreasing by 28 percent to 28 units since the beginning of the year.

It’s possible the inventory in this market segment peaked in late December, when there were 39 units listed below $300,000, a benchmark I’ve written about many times in recent years. The price is significant because at the height of the Jackson Hole real estate bubble, not a single residence in Teton County was listed below that figure and in 2008 there was not a reported sale below $300,000.

During the last 12 months, 41 of the 274 (15 percent) residential sales in Jackson Hole were below $300,000. Closed sales in 2012 have remained on pace, with 10 of the 62 below $300,000. However, 12 of the 55 (21 percent) pending listings in Teton County are listed below $300,000 with 54 percent of properties under contract listed below $400,000.

The demand is not hard to understand. Finally, the costs of home ownership are again comparable to renting a similar residential unit. Interest rates are rock bottom, with a 30-year mortgage on $200,000 at 4 percent resulting in a monthly payment of about $950. Few 2-bed Jackson Hole homes rent for less than $1,000.

Supply, however, may become a problem. Many of the listings at the very bottom of the market, most of them bank-owned, saw multiple offers and short days on market. But foreclosures are waning in Teton County. And with prices stagnant, so is the amount of equity sellers. Contributing to inventory, however, will be additional short sale properties.

A lack of supply has already had a dampening effect on the upper end of the Jackson Hole home market. Sales of high-end homes above $1.5 million carried the market in the early stages of the current economic recovery, but that inventory has shrunk considerably in the last two quarters.

Year to date, 27 percent of residential sales have been above $1.5 million, a figure that often represented a monthly average sales price in the heyday. (In fact, the average sales price for the entire year of 2010 was approximately $1.4 million.) Just 6 percent of sales have been above $3 million, however, a market segment that saw a 13 percent decrease in inventory in 2011.

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Feb: Unit sales flat as ASP plummets

March 15, 2012 By 1 Comment

The view from atop the southernmost Teton is always Glory-ous.

It took a leap year to do it, but on the last day of February the 21st sale of the month tied unit sales for February 2011. Total Jackson Hole real estate sales volume, however, plummeted to just $17.3 million, or 55 percent of the $31.3 million recorded the previous year.

Average sales price also fell dramatically to $753,000, one of the lowest monthly numbers in years. Indicatively, the final sale of the month was a distressed, 2-bed condo in Town of Jackson that sold for $149,000. These same units were listed as high as $439,000 in 2008 and closed for as high as $356,000 in June 2007, the height of the Jackson Hole real estate market.

Building site sales continued their minor resurgence as well, with four closings for approximately $3.6 million.  That makes 10 raw land sales for approximately $12.5 million so far in 2012, well ahead of last year’s increased pace of 34 sales for $33 million.

Additional highlights from February sales reported via Teton County Multiple Listing Service include:

  • The lowest-priced sale was $102,300 for a 34-year-old, 2-bed, bank-owned Town of Jackson condo. List price was $103,000, closed after 121 days on market.
  • The top sale in February was $2.3 million for a 3,900+ sq ft home on four acres south of Teton Village after just 50 days on market.
  • Median sales price was just $485,000, represented by a 2,400+ sq ft Town of Jackson home built in 1975. List price was $735,000 in 2011 before being withdrawn.
  • Melody Ranch kept its approximately one sale per month pace with the closing of a 3,400+ sq ft home on the western perimeter for approximately $216 per square foot. A Melody Ranch is also under contract with a closing presumably set for March.

Going forward, expect this trend to continue. There are 46 pending properties in Teton County with a median list price of $379,000. There are 23 properties under contract with list prices below $375,000.

Contact me for a closer look at February sales or for a more personalized look at Jackson Hole real estate.

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Lower prices, increased sales boost Jackson Hole real estate in 2011

January 6, 2012 By Leave a Comment

Land sales in 2011 were just one of the many indicators Jackson Hole real estate is enjoying a steady, stable recovery in almost all segments. This lot south of Wilson is new to market in January 2012.

It wasn’t real estate heaven, the market didn’t party like it was 2007, but overall Jackson Hole real estate was pretty darn good in 2011.

The calendar year ended last week with a total of 326 closings in Teton County, including 289 residential and 37 building site sales. The sum exceeds the 261 sales in 2010 by 26 percent. However, sales volume dropped in 2011 by 16 percent to approximately $323.5 million.

The jump in unit sales in 2011 followed a similar increase in 2010 of 29 percent compared to 2009, though 2010 also saw a 69 percent increase in sales volume from that terrible, horrible, very bad year that recorded just 203 unit sales for $229 million.

The 37 building site sales, up 15 percent from 2010 and 68 percent from 2009, echo the steadily improving residential numbers. Sales volume for vacant land in 2011 totaled $34.4 million, not including two unreported sales on Bar BC Ranch properties with a total list price of $19.5 million.

Nearly all market statistics indicate 2011 represented a strengthening market in which prices found bottom in most segments and more buyers got off the sidelines. And perhaps most encouragingly, this strength comes despite lingering limiting factors such as an unreasonably tight lending climate, local and global economic concerns and the simple fact that so many homeowners cannot sell for what they have into their property.

Sunrise at Jackson Hole Mountain Resort on a recent morning.

Highlights from 2011 real estate sales in Teton County, WY, include:

  • There were five sales at or below $100,000 in 2011, the first such sales since January 2000.
  • There were 45 residential sales in 2011 below $300,000. In 2008, for context, there was not a single sale reported by Teton County Multiple Listing Service below $300,000.
  • Eleven of the 12 sales below $130,000 were in two subdivisions: Ponderosa Village in West Jackson and Hillside Business Complex Condos, located about 2 miles south of Jackson.
  • Thirteen of the residential sales, or 4.5 percent, were not reported, as is the prerogative of the seller in Wyoming. The highest list price for a non-reported sale was $10.7 million for a 7,900+ square-foot home in Crescent H on 28 acres. These sales are not included in the annual sales volume figure above.
  • The highest reported sale in Jackson Hole in 2011 was $7.3 million for the much-publicized auction of the Bighorn Lodge near Jackson Hole Airport.
  • There were eight sales above $5 million; 21 above $3 million; 32 above $2 million; 85 above $1 million.
  • The median sale was $685,000, represented by a bank-owned Love Ridge condo in Jackson and a 2-bed Teton Mountain Lodge condo in Teton Village.

    Bar BC Ranch reported three sales during 2011 and four since December 2010, helping sustain modest growth in the vacant land segment.

  • Bar BC Ranch dominated the vacant land market, with three sales in 2011 and four since December 2010. Ranch 1, perhaps the finest building site in Jackson Hole at the confluence of the Gros Ventre and Snake rivers, was listed for $10.5 million and sold on Dec. 30 for an unreported price.
  • The least-expensive land sale in 2011 was for six acres in Alta, WY, that changed hands for $165,000. The least-expensive sale on the Wyoming side of the Tetons was a bank-owned, 0.33-acre lot in Melody Ranch for $199,900.

Without a doubt the current market remains challenging, placing a higher premium on research, market knowledge and due diligence. However, great opportunity exists for those determined to reach their goals. Contact me today to begin your Jackson Hole property search with a personalized market update.

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Cottonwood Park: Jackson Hole’s working class hero

November 29, 2011 By Leave a Comment

The east end of Cottonwood Park was originally platted in 1984, with subsequent filings until 1992. Today, this neighborhood houses a considerable percentage of Teton County's middle class.

It may be hard to imagine today, but in 1984 when the first Cottonwood Park homes were under construction, the southwestern corner of Jackson looked almost as rural as the ranch lands that define the landscape south of High School Road today.

There were no sprawling school campuses with synthetic sports fields. No apartment complexes. No big box supermarket or department store. The “X” at the junction of Highway 22 and Highway 89 was still considered a “Y.”

More than a generation later, Cottonwood Park is Jackson Hole’s working class hero, with scores of single-family homes and townhouses priced above entry-level condos but below the newer homes outside town limits and the more highly valued areas of East Jackson.

Two new Cottonwood properties in the last week bring the total number of active listings to 11. The least-expensive is a 2-bed, 1,126-square-foot townhouse priced at $349,500 built in 1986; the highest-priced property, which hit the market this week, is a 3-bed, 2,783-square-foot home on a 0.21-acre lot built in 1996 listed at $599,000.

Continuing to use these two ends of the Cottonwood market as a barometer for this bellwether Jackson Hole neighborhood, a similar 2-bed townhouse sold for approximately $105,000 in 1998, the most recent year for digital records. Similar units were priced as high as $520,000 during the height of the housing bubble. The new 3-bed listing last sold in 2006 for 23 percent more than the current list price.

Looking at sold units in this neighborhood, there were 10 closings during the last 12 months. Highlights include:

  • The lowest-priced sale was a similar unit to the least-expensive active listing (but with 3 beds) for about 7 percent less than list price.
  • The highest-priced sale was also on a similar-sized unit to the highest-priced active listing (but five years older) for about 3 percent less than asking price.
  • Average sales price on the 10 sales was $453,650 for about 92 percent of list price at the time of the sale.
  • Average days on market was 280.

    Cottonwood Flats is a new 32-unit development adjacent to Cottonwood Park and is not included in this analysis.

     

As noted in a 2009 Teton Realty Today post that also took a look at Cottonwood Park, the highest recorded sale in this neighborhood was $779,500 in April 2008 for a 5-bed, 2,478-square-foot home.

Please contact me to discuss this neighborhood or for a more personalized look at the Jackson Hole/Teton County real estate market.

(Note: This analysis does not include Cottonwood Flats, a two-year-old subdivision with 32 townhouse units located adjacent to Cottonwood Park to the northeast. Information on this development also available upon request.)

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