October 3, 2023


New Estate

Grasp-planned neighborhood gross sales ticked up within the first half of 2023

2 min read

New house gross sales among the many “50 Prime-Promoting Grasp-Deliberate Communities” elevated by 7% within the first half of 2023 in comparison with the identical interval in 2022, in keeping with a examine by RCLCO Actual Property Consulting.

Grasp-planned communities have been gaining steam since their invention within the Sixties. Normally constructed by one developer, they’re giant, custom-built residential communities that embrace various leisure facilities for residents. 

Within the gross sales rating, The Villages, a retirement neighborhood situated in Central Florida, was the top-selling neighborhood within the nation, with an estimated 1,960 gross sales within the first six months of 2023. It was the identical precise variety of gross sales as recorded at the moment in 2022.

Florida’s Lakewood Ranch claimed the second spot with 1,227 gross sales, a 20% enhance over final yr at the moment. Sunterra, situated simply exterior Houston in Katy, Texas, got here in third with 669 gross sales, 49% enhance in gross sales since final yr.

D.R. Horton, the nation’s largest nationwide homebuilder, appeared on the record 4 occasions. All of its communities have been in Texas. Land Tejas, owned by Starwood Capital Group, appeared on the record thrice and was the developer behind Sunterra.

Houston was the top-performing metropolitan space with 14 communities within the Prime 50, representing over 5,000 gross sales, or nearly 26% of all gross sales amongst ranked MPCs. The state of Florida represented about 42% of gross sales amongst ranked communities, adopted by Texas at practically 38%.

This uptick in MPC gross sales represents a turnaround, pointing to the power of the brand new house gross sales market. Lately, homebuilders have been feeling very assured and allow demand for future building rose to a 12-month excessive in June on the weak spot of the prevailing house gross sales market and low stock.

Most MPC builders stay optimistic concerning the second half of 2023, in keeping with RCLCO. Regardless of elevated rates of interest and a looming recession, builders stay assured that MPCs will protect their robust attraction for customers. Nevertheless, whereas some builders have pulled again on incentives, about 60% are nonetheless utilizing incentives to stimulate new house gross sales. 

RCLCO has performed a nationwide survey figuring out the top-selling master-planned communities (MPCs) since 1994. Every year, the consulting agency experiences the annual gross sales among the many Prime-50 communities on the finish of the yr, and publishes its mid-year replace in July.

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