Real estate advisors RLCO have been compiling data on sales at master-planned communities since 1994. The mid-year report for 2019 shows strong sales growth in the sector.
"Home sales at the nation’s 50 top-selling MPCs exceeded expectations in the first half of 2019, with a pace that indicates the potential for a 10% increase at year’s end compared with 2018," according to an article written by Todd LaRue, managing director of RLCO, and Karl Pischke, vice president of RLCO.
"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," according to the article.
According to LaRue and Pischke, the growth in sales at master-planned suggests that the market is staving off a downturn, as predicted by some, and documented in a "sentiment report" from RLCO published in June.
As for the list of top-selling markets, the list is led by The Villages, in The Villages, Florida; Lakewood Ranch, in Sarasota, Florida; and West Villages, in Venice Florida.
The strong demand for homes in master-planned communities is the flip side of a market also defined by strong demand for multi-family housing.
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