Absolutely. My house is not the most expensive one in this neighborhood by any means, but I see the ones in the new subdivisions. I have an acre of land and so do the others in this subdivision (Yes, we have the dreaded covenants!)
I know what my stepdaughter is asking for hers, with NO garage, and it's stunning. But she will get it.
Sounds like a nice place, but every HOA has it's nosey, compliance monitoring busybody, and I don't know how well I'd deal with that. I deliberately bought in an area without restrictive covenants or a homeowner's association. It's a beautiful area, very animal friendly, surrounded by lakes and ponds, everybody has acreage. I've got 3. Good thing I bought a few years back, because the same sort of thing is being marketed now as a "mini-estate" (LOL!) and is way, way more dear than it was when I purchased it. The pretty land within a decent commute has all but disappeared now. As a result, if there is any decline down here in NC, and I seriously doubt that there will be, I'll likely still be OK. I didn't buy it to get rich quick. I bought it for a home, and don't expect anything more than just the normal, rate-of-inflation type of appreciation.