Home sales within master planned communities exceeded expectations in the first half of 2019, putting them on a path towards a 10% year-over-year increase by the end of the year, RCLCO Real Estate Advisors reports.
On average, communities on this year’s list experienced approximately 3% growth in sales over the same time period last year. Texas, Florida, and California account for 66% of total sales among the 50 top-selling communities, with the share of total top-selling MPC sales in other states decreasing from 38% to 34% since mid-year 2018. These results appear to validate the sentiments echoed in RCLCO’s Mid-Year 2019 Sentiment Survey that it is not quite time to stress a downturn. Professionals across the industry were polled about their perspective on the current state of various product types, and most did not yet believe a peak had been reached in the for-sale residential space. Indeed, the sales figures provided by the top-selling master-planned communities in the country would appear to agree with these professionals, as this cycle continues to provide further room to grow.
The Villages is estimated to be the top-selling MPC in the country thus far in 2019 with approximately 1,000 sales. Sarasota’s Lakewood Ranch once again holds the number 2 spot at 824 sales through mid-year. Another Sarasota area community, West Villages, occupies the third-place spot on RCLCO’s top-selling list, and experienced a significant jump in sales over previous mid-year figures. With room left to grow, these two Sarasota area communities may ultimately be in competition for the number one spot in the near future. Las Vegas, Nevada’s Summerlin and Jacksonville, Florida’s Nocatee round out the rest of the country’s top-five master-planned communities for mid-year 2019.
PB Topical Ref
