Reasons for Optimism for Master-Planned Communities
The best-performing MPCs are developed with a strong vision and plan that guides development and unifies the community with appropriately targeted new housing; parks, trails and open spaces; distinctive signage; entry features; landscaping; and architectural design standards. MPCs distinguish themselves by fostering a “lifestyle” that encourages interaction among neighbors and embodies a true sense of community. These communities create environments where new home buyers believe they will lead better lives due to the housing, features and amenities, aesthetics, and other important attributes. Often, this includes parks, open spaces, schools, neighborhood shopping, services, and easy access to employment.
Each Summer and Winter RCLCO conducts a national survey to identify each state’s top-selling master-planned communities (MPCs). The survey provides insights into the performance of MPCs relative to the broader market and helps identify the factors that enable MPCs to achieve higher annual sales and premium prices compared to typical new home subdivisions. New home sales are currently below 2023 levels, though the top 50 master-planned communities nearly match last year’s pace through the first half of 2024.
New home sales among the top 50 communities are only 0.3% lower than midyear 2023, while the broader new home market nationally is down 1.1% compared to last year. The latest sales data from the U.S. Census Bureau indicated a more substantial drop for June, which saw 7.4% fewer sales than the previous year.
Sarasota, Florida’s Lakewood Ranch claims the top spot among all-ages communities with 1,238 sales, a 1% increase over last year, while The Villages, an active adult community in Central Florida, is again the top-selling community in the country with an estimated 1,515 sales primarily to 55+ buyers. Sunterra, located in Houston, Texas, earned third place with a 16% increase in sales compared to the first half of 2023. Metro Development Group’s Mirada community in San Antonio, Florida, experienced a 60% increase in sales through the first half of the year, ranking the community within the Top 10 for the first time. Houston, Texas remains the top-performing metropolitan area, with 13 communities in the Top 50, representing over 4,500 sales. The Las Vegas, Nevada metropolitan area follows with over 2,000 sales, representing 11% of sales among ranked MPCs. Notable performances in 2024 include Lennar’s Summer’s Corner in Charleston, South Carolina, which saw a 67% increase in sales, placing the community 7th in the nation after finishing 25th in 2023.
Gregg Logan is the Managing Director of RCLCO.
