Austin is a master when it comes to master-planned communities. A report released Jan. 5 by RCLCO Real Estate Advisors shows that the Austin-Round Rock metropolitan area will be home to three of the top 50 best-selling master plan communities in 2020.
The three local communities on the list are:
Mariner Real Estate Developer’s Santa Rita Ranch in Liberty Hill ranked 21st (641 homes sold, up 72 percent from 2019).
Scarborough Lane’s Sunfield project in Buda ranked 26th (595 homes sold, up 89 percent)
Brookfield Residential’s Easton Park ranked 29th (577 homes sold, up 90 percent)
On a percentage basis, both the Easton Park and Sunfield projects saw the largest increases in home sales among the Texas communities listed.
“The top 50 best-selling Master-Planned Communities in 2020 saw total revenue around 20 percent higher than in 2019, and the communities in this year’s Top 50 report, for which 2019 sales data was available, saw an average revenue increase of 40 percent in 2020 “, says the report.
And while COVID-19 drove some shoppers from dense urban centers to suburban communities, that’s not the full picture.
“COVID-19 has increased the desire for newer, better, and larger space,” the report said. “However, it is the low interest rates that have opened up many buyers and the historically low resale inventory accelerated urgency and increased demand for new homes.”
According to the study, Texas and Florida accounted for nearly two-thirds of total sales for the 50 best-selling communities last year. Austin isn’t the only Texas subway to make the list.
In fact, Houston has the highest total number for a city in the United States. A total of eight municipalities there sold more than 5,000 houses last year, which was also the highest amount for a metropolitan region.
At the head of the Houston pack is Bridgeland, one of Howard Hughes Corp. Community developed from The Woodlands in Cypress. According to the report, 873 homes were sold there last year, up 19 percent from 2019. That put Bridgeland in 9th place in the top 50. It is the highest-ranking community in Texas for number of homes sold.
Dallas now had four in the top 50 and San Antonio had one.