Masterplanned communities were on the upswing in 2013, with 15,338 homes sold for the year spread out over the top 20 masterplans, "which is an 11% increase over 2012," said John Burns Real Estate Consulting, a leading national source of independent housing research, advice and consulting. Not surprisingly, Texas dominates the masterplanned rankings, "with 9 communities" on the list.
Some of the findings from the John Burns report included:
1. The active adult market is hot.
"Active adult communities all over the country had an excellent year in 2013 due to great demographics, a strong stock market, and well qualified buyers with no legacy mortgage issues who found it easy to sell their existing home."
Masterplanned developers like SouthStar Communities have seen a similar trend, with buyers in this demographic buying land and building their custom dream home in their ideal location, like in New Braunfels' Vintage Oaks community, the top-selling community in the Texas Hill Country, where a Texas Wine Country location makes for an ideal retirement or family life. Buyers are similarly making their dream of lake living come true at SouthStar Communities' Lake Ridge community, conveniently located between Dallas and Fort Worth but offering an everyday resort lifestyle.
2. Masterplanned rankings show interest remains high, but a lack of available land may stand in the way of buyers in some places.
"Sales fell in (five) of the 20 largest communities and 26% of the top 50 communities, due to lot availability rather than consumer demand," said John Burns.
A recent article from the Wall Street Journal also noted the land crunch being felt throughout many populous areas, but was quick to point out where land can be plentiful: Texas. This is especially true in some of Texas' masterplanned acreage communities, like those built by SouthStar Communities in three of Texas' hottest areas: New Braunfels; Dallas-Fort Worth, and Bryan-College Station.
Here, buyers faced with lot shortages in traditional single-family home communities are discovering all the advantages of buying land and building custom homes. Plentiful land in each of these communities means land buyers are able to buy and start building immediately, or build on their timeline if they choose to wait.
3. Houston, which had one of the hottest real estate markets in the country during 2013, showed its prowess in this market as well.
"Amazingly, eight of the top 20 best-selling master-planned communities are located in Houston," said John Burns.
SouthStar Communities' masterplan in Byran-College Station, King Oaks, has increasingly been the beneficiary of Houston's hot market. More and more, those moving from other states to live near Texas A&M, as well as those looking to sell their Houston home and get away from the hustle and bustle, are discovering all they can have at King Oaks, including:
- Great proximity to Texas A&M’s athletics and activities
- A private, country feel
- 1.84% total taxes, with no city taxes
- Higher value per acre than nearby neighborhoods
- Majestic oak trees throughout the community
- Friendly community events
For more information about moving to Texas or buying a piece of prime Texas land, visit SouthStar Communities.