Thu09182014

Business & Real Estate

Local development sold out in four months


Ellie Van Houtte/ Town Crier
Lennar Homes’ 38-unit Sherwood townhouse development sold out in approximately four months. The homes, ranging from $1.1 million to $1.4 million, are located off Sherwood Avenue, between El Camino Real and San Antonio Road in Los Altos.

Buyers looking for a townhouse in Los Altos can probably scratch Lennar Corp. Homes’ Sherwood development off their lists.

According to Lennar sales associate Sierra Legner, the 38-unit townhouse development – located off Sherwood Avenue between San Antonio Road and El Camino Real – closed its final sale last week after approximately four months on the market. She credited a familiar theme for the quick sales of the townhomes: location and schools.

“That’s exactly why. … It’s in a convenient location where people can walk anywhere, and, of course, it’s about the schools,” Legner said of the development, which offered homes ranging from approximately 1,400 to 1,770 square feet, at prices from $1.1 million to $1.4 million.

Legner noted that Lennar began establishing a priority list of interested buyers in July 2013 – which included buyers initially interested in the company’s sold-out downtown condominium complex at 396 First St., the former site of Adobe Animal Hospital.

The first units at Sherwood were complete and move-in ready at the end of January.

Legner called the pace of sales a “whirlwind” – even for today’s improved real estate market in Silicon Valley.

“It’s been rather amazing,” she noted. “I can’t begin to tell you how fast this happened.”

– Diego Abeloos

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