Throughout the country, homes within master planned communities are selling at a much more rapid pace and at substantially higher sales prices. According to a report by RCLCO Foundation, sales in master planned communities across the country have been on the rise for years, as many homebuyers believe these communities are the best place to invest (due to lower distress properties), live (safe streets) and raise their families (better school districts accompany master planned communities). These factors have allowed master planned communities across the country to maintain a strong market share.
Several master planned communities throughout Houston ranked among the 20 top selling master planned communities in the nation as of the middle of 2013, including Cinco Ranch, The Woodlands, Riverstone, Sienna Plantation, Woodforest, Shadow Creek Ranch, Bridgeland and Telfair. Many attribute the success of these neighborhoods to increased employment opportunities, low interest rates, low resale inventory, and increased consumer confidence around Houston, all contributing factors to strong sales!
Demand is sharply increasing for homes in master planned communities throughout Texas, as lot development continues to lag. In fact, the inventory of available lots is the lowest it has been in ten years throughout the state, leaving builders anxious in regards to meeting demand. Many builders throughout these master planned communities, including those in Sienna Plantation, are even raising prices in order to slow down sales so that they can keep up with demand.
Mature master planned communities throughout Houston, such as The Woodlands and Cinco Ranch, are approaching build out. Therefore, while they have increased sales and market share in higher priced homes, sales volume for lower priced homes are declining. However, newer master planned communities with fewer restraints on space, including Riverstone and Woodforest, have been able to take advantage of increased housing demand in the area. In fact, Woodforest added multiple builders and recently opened up new neighborhoods to accommodate a wide range of buyers with a variety of price points.
As jobs continue to be created and ExxonMobil’s move approaches, homebuyers will continue flocking to Houston, further increasing housing demand throughout the area. With desirable features and amenities, conveniences, and safe streets, master planned communities will continue to attract a wide range of homebuyers. In fact, RCLCO Foundation predicts that sales in master planned communities in 2013 will be at the highest level since the recession.
If you live in one of these top master planned communities and are considering a move, the real estate climate is favorable for sellers, especially in The Woodlands and Cinco Ranch where there is limited availability for building. Consult with a real estate agent who can help you weigh the benefits of moving and staying. For homebuyers looking for their dream home in the Houston area, let a qualified real estate agent facilitate your home search through the dwindling inventory. Connect Realty has some of the top real estate agents in the area who are eager to assist you with your housing needs, or simply offer their advice and expertise on your best options based on your family’s needs and situation. Narrow your home search by using our area guides and advanced search optimization, even if it’s just to see what’s available in different areas. Those who are considering selling, Connect Realty implements advanced technology that can help value your home! Click here to see your home’s value, and let it determine whether or not you want to explore your options and meet with a reputable, experienced Connect Realty Agent!