96 On2 Homes Priced at Half the Metro Denver Median
DENVER, CO (July 20, 2022) – Today, On2 Homes, Oakwood Homes’ newest brand, listed 96 single-family homes for sale at Green Valley Ranch (GVR), one of the fastest-growing communities in metro Denver. On2 Homes offers four distinct floor plans, with two-and-three-bedroom options available to prospective buyers. With a starting listing price in the low $300’s, On2 Homes’ prices start at half the median cost of a single-family home in metro Denver, now more than $600,000.
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“Our customers have been stuck,” said Kristen Nelson, president of the On2 Homes division for Oakwood Homes. “They want to get their foot in the door of the Denver housing market, but steep entry prices keep them trapped in the renting cycle. With On2 Homes, we’re launching a product that delivers the quality of a traditional single-family home at a uniquely affordable price point.”
The affordability of On2 homes is driven by an innovative approach that merges off-site and site-built construction and supply processes, resulting in decreased build time and cost for homeowners. This method also demonstrates Oakwood Homes continued success in making homes constructed with off-site-built and site-built practices indistinguishable from one another.
Built in an off-site home building facility, On2 offers cost-effective, energy-efficient and high-quality homes at a fraction of the cost of site-building. At off-site design centers, On2 Homes uses precision-building techniques to maximize cost, speed and energy efficiency without compromising quality. With unique design features like EnergySmart® utility systems and weather proofing, On2's single-family homes deliver high quality finishes at a price accessible to more Coloradans. Oakwood guarantees every On2 homebuyer full ownership over their property’s land rights – an increasingly rare opportunity in today’s housing market.
In 2021, metro Denver experienced a 19.3% year-over-year increase in the median listing price of a single-family home. With single-family starter homes beginning at more than $600,000, many Denver residents find themselves priced out of the housing market. With On2 Homes, Oakwood hopes to address Denver’s shortage of affordable single-family homes, expanding the possibility of homeownership to all the city’s residents.
As of December, Colorado has the fourth worst housing shortage in the United States. To keep pace with population gains, the state needs to build 54,000 new housing units annually over the next five years. Much of this burden falls on the homebuilding and construction industry. By utilizing efficiencies found in off-site home building and modular construction, the homebuilding industry can help answer the demand for affordable housing.
“Home prices shattered records in 2021,” said Pat Hamill, chairman and CEO of Oakwood Homes. “With On2 Homes, we’re working to reverse this trend, creating opportunities for homeownership for everyone. Quality and affordability shouldn’t be mutually exclusive. On2 Homes provides both.”
In addition to rising housing prices, household utility costs rose a record 11.7% over the last year, creating a significant new cost concern for Colorado home buyers. With 87% of the state experiencing severe drought conditions, experts anticipate residential water rates to rise precipitously, as well. On2’s innovative design and installation process prioritizes energy efficiency and utility cost reduction, benefiting both the environment and the homebuyer.
Using Rheia HVAC systems and efficient materials, On2 homes offer reduced cooling tonnage, better air mixing and considerable cost savings on heating and cooling. On2 neighborhoods’ xeriscaping requires minimal irrigation and maintenance, reducing water use and costs for all properties. All homes come equipped with full-service EV stations, enabling electrical vehicle owners to store and charge their vehicles at home.
Oakwood Homes is the master developer for Green Valley Ranch, a rapidly growing, master-planned community spanning east Denver and Aurora. Centered in the heart of GVR, On2’s single-family homes offer access to the community’s dozens of amenities, including the golf club, farmers market, and major shopping destinations.
For more information on the launch of On2 Homes, visit https://on2homes.com.
About Oakwood Homes
Oakwood Homes is proud to be part of the Clayton family, a Berkshire Hathaway company, and is committed to growth and development across Colorado, Utah and Arizona. Oakwood has delivered over 20,000 homes to date over its 30 years of history. Oakwood, as well as its founder Pat Hamill, have been recognized as leading community philanthropists. Through Oakwood’s BuildStrong Education, they have committed to education reform and early childhood education. Learn more about the company, Oakwood’s leadership team, and its history at www.oakwoodhomesco.com.