As two new model homes opened for viewing at Villa Bella, one of Pueblo’s newest large-scale subdivisions near Colorado State University Pueblo, the local real estate market continues its wild ride.
Villa Bella, located north of Colorado 47, and west of Baculite Mesa Road, is a 610-acre development launched by Pueblo’s Dan DeRose in 2008. DeRose sold a majority of the property to Richmond American Homes and Landhuis Company, both of which are building new homes on site.
According to the Pueblo Association of Realtors, in November alone, 520 residential properties sold for nearly $73.8 million. The median home price is $292,500 for single family homes and $249,000 for condos and townhomes.
Last week, Richmond opened two model homes at 2502 Torino Way. Landhuis Company and their home building division Saint Aubyn Homes purchased approximately 540 acres in Villa Bella and is starting work on the first 44 lots.
“It is going to be a master planned community, so we have the first 90 lots and we’ve sold about 16 so far,” said Taylor Tanner, sales associate for Richmond. “In Villa Bella we have everything.”
The homes range from 1,400 square-feet to more than 3,000 square-feet. Owners can select ranch-style or two-story homes that can be built on crawl spaces or basements, Tanner explained.
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The homes have stucco fronts with stone work, while the back and sides feature siding. Homeowners also can select a two-car or three-car garage.
“There is a huge flux in price based off what someone wants. What’s cool about the community is for a small fee you can access all of the college’s amenities,” Tanner said.
Earlier this year, Richmond American Homes started with 64 lots in the Crestview Hills subdivision, building homes along Sunrise Lane and Cliffmoor Lane east of Wills Boulevard. All the 64 lots have been sold so the company secured an additional 66 lots in the subdivision, Tanner said.
“We only have 15 dirt lots left,” Tanner said. “It really has been wild.”
The real estate market’s wild ride plays out in the Pueblo Association of Realtors statistics which show although 24 fewer homes were sold in November compared to November 2020, the total selling price of those properties was $1.3 million higher.
Richmond’s Villa Bella model home hours are 9 a.m. to 5 p.m. Saturday through Thursday and noon to 5 p.m. on Friday. For details go to the company’s website at richmondamerican.com.
This article originally appeared on The Pueblo Chieftain: Pueblo’s new Villa Bella neighborhood has two Richmond model homes
Pueblo maintains frenzied real estate market as new model homes open