2016 Master-Planned Communities Survey – Mid-Year Update
Every year RCLCO put’s out a list of Top-Selling Master-planned communities in the nation. Excerpts from their Mid-Year update are below. Westin Homes is very excited and honored to be building in four of the top 30 master-planned communities in the nation! (Riverstone, Canyon Lakes West, Sienna Plantation & Woodforest.) We anticipate many more of our Houston communities to be included on this list in future years. Now is a great time to purchase a new home in the Houston area, and Westin offers beautiful homes in 30 different communities city-wide.
2016 MPC Survey – Mid-Year Update
By: Todd Larue, Managing Director, and Brian Martin, Vice President
Homes at the nation’s top-selling master-planned communities (MPCs) sold at a similar pace in the first half of 2016 as they did in the first half of 2015. For two years in a row, we saw sales rebound in the first half of the year after dropping approximately 20% during the second half of the prior year, reflecting fluctuations in the economy as well as circumstances unique to each of the communities, as described below. Also noteworthy is that for the first time in 14 years, The Villages is not the top-selling MPC in our survey.
Every year since 1994, RCLCO has conducted a national survey identifying the top-selling MPCs. We recently surveyed MPCs throughout the country to establish the 20 top-selling communities for the first half of 2016.
MPCs that achieved sales increases credit successful market segmentation—the targeting of various age, income, and household groups with appropriately priced and designed residential product types and lifestyle amenities. Communities experiencing a decrease in sales cited reduced lot inventories, higher prices, and delays in home completions.
One of the most prevalent features of the top-selling MPCs is the inclusion of a town center, typically heavily food-oriented, along with other retail and services supportive of daily living. Another common attribute of the most successful communities is the availability of various healthy community features, including fitness classes, active lifestyle activities, and easily accessible parks and bike paths. A few of these MPCs also include a local farm-to-table component, capitalizing on the good food movement, the strong interest in healthy locally grown food, and the opportunity to differentiate themselves from their competitors. In terms of age segmentation, MPCs are targeting Millennials and active seniors in roughly equal numbers, both with their product offerings and in their marketing activities. Methods of outreach vary, with the active adult component advertised through traditional media channels, while marketing to Millennials involves a more robust use of social media along with internet advertising through channels that target them.
Although the oil and gas sector continues to contribute to uncertainty in the Houston market, pricing and sales volume remain fairly consistent in the top-selling MPCs over last year. With a diversified economy that is helping to mitigate the impact of the oil and gas industry, and unemployment rates below the national level, Houston boasts two communities that remain in the top 20 (Riverstone and Aliana), while five communities narrowly missed the top 20, each with between 190 and 200 sales (Canyon Lakes West, Cross Creek Ranch, Sienna Plantation, Woodforest, and Wildwood at Northpointe). Riverstone is the only top-selling Houston community that has experienced a precipitous decline in sales, though this can be attributed to declining inventories at more affordable price points as the community focuses on higher price points in its last remaining development parcels. Other top-selling communities in the region continue to be successful with either sophisticated segmentation strategies or an emphasis on more attainably priced products.
Here is the link if you want to read the entire article. But don’t forget to come back to our Westin website to find the home of your dreams