RE:Median listing price in TehachapiI mentioned about wanting to post this previously and finally got around to it. This information is taken directly from the Altus "Gold Standard Report".
Pct. is Percentage of the entire Sage Ranch development (may not be 100% due to rounding)
Apartments - Qty. 204 units - Avg 1010 sq.ft. - Pct. 21% Avg Sale Price $277,750
Cottage "B" - Qty. 76 units - Avg 1050 sq.ft. - Pct. 8% Avg Sale Price $315,000
Cottage "A" - Qty. 66 units - Avg 1167 sq.ft. - Pct. 7% Avg Sale Price $350,100
Townhomes - Qty. 116 units - Avg 1375 sq.ft. - Pct. 9% Avg Sale Price $412,500
Court Homes -Qty. 114 units - Avg 1750 sq.ft. - Pct. 12% Avg Sale Price $516,250
Bungalows - Qty. 165 units - Avg 1965 sq.ft. - Pct. 17% Avg Sale Price $540,375
SFD 7 - Qty. 139 units - Avg 2103 sq.ft. - Pct. 14% Avg Sale Price $578,325
SFD 5 - Qty. 124 units - Avg 2233 sq.ft. - Pct. 13% Avg Sale Price $614,075
* SFD = Single Family Dwellings
In Sven's video it was stated that the average home for Sage Ranch is 1500sq. ft. at $309/sg ft
(not sure where that number comes from as the updated Altus Report has $300 for the most expensive)
1500sq. ft. x $300 = $450,000
44% of the development is below this average @ $338,838 avg.
56% of the development is above this average @ $562,256 avg.
Keep in mind these are basic selling prices without any extra options which according to the video are generally about $50,000 (seems high).
These options can be included in the home mortgage financing, paid in cash after escrow, performed by the home buyer at a later date or have the options declined entirely.
K Hovanian Homes (in 17 months) has sold 27 of 55 homes with their top seller being their cheapest home "The Aberdeen" @ 1927sq. ft. for $499,990 or $260 per sq ft.