Press Release: Texas and Florida Once Again Top RCLCO Real Estate Consulting’s Mid-Year 2024 Master-Planned Communities Report

Despite lower sales in the broader housing market, sales among the Top-50 MPCs remained relatively steady compared to the top-performers of 2023, showcasing the relative strength and continued appeal of Master-Planned Communities.

BETHESDA, MD., July 31, 2024 —

RCLCO Real Estate Consulting, an advisory firm focused on the real estate industry, has released the results of their mid-year survey of the top-selling master-planned communities (MPCs) of 2024.  The survey shows that new home sales among the 50 Top-Selling Master-Planned Communities remained relatively steady, declining by less than one percent compared to the top-selling communities of mid-year 2023.

“Master-Planned Communities remain a ‘haven’ for consumers amid elevated interest rates and economic uncertainty”, said Gregg Logan, Managing Director at RCLCO. “Sales among top-MPCs outperformed the broader new home market, as sales of single-family homes nationally were 1.1% lower compared to sales in the first half of 2023.”

Key takeaways from this year’s results include:

• New home sales among the 50 Top-Selling Master-Planned Communities continued the pace set by the top communities in the first half of 2023.
• Sales among top-MPCs outperformed the broader new home market, as the pace of single-family home sales nationally was 1.1% lower through the first half of 2024 compared the prior year. June new home sales nationally experienced a 7.4% decline compared to 2023, while master planned communities held strong.
• Florida’s Lakewood Ranch is the top-selling all-ages community in the country with 1,238 sales, while it is estimated that The Villages retains its place as the top-selling community overall, with sales predominantly to 55+ buyers.
• Sunterra in Houston, TX has earned the third-place rank with 774 sales – a 16% increase over the same time last year.
• The Houston MSA was the top-performing metropolitan area with 13 communities in the Top-50, representing over 4,500 sales, or almost 24% of all sales among ranked MPCs. The state of Texas represented about 39% of sales among ranked communities, followed by Florida at 36%, Nevada at 11% and South Carolina at 6%.

RCLCO’s national survey of master-planned communities has been conducted since 1994, and it identifies the top-selling MPCs through a rigorous search of high-performing communities. The ranking is based on total new home sales as reported by each individual community and establishes updated rankings from the previously released 2023 year-end report. This initiative exists not only as a way to commend the most successful communities, but also as: a tool for monitoring the overall health of the for-sale housing industry; a means of locating markets with residential momentum; a process for highlighting trends affecting communities; and a medium through which to learn development best practices.

“New home sales in master-planned communities represent only a fraction of total sales in the country, but the trends and patterns we see there tell us a lot about the state of the housing market overall,” said Karl Pischke, Principal at RCLCO. “Despite the current interest rate environment and softening builder sentiment in the near-term, the long-term strength of new home sales results from strong underlying demographics, particularly millennial households in their prime home buying years as well as retiring boomer households, and domestic migration trends across the country.”

About RCLCO

Since 1967, RCLCO Real Estate Consulting has been the “first call” for real estate developers, investors, public institutions, and non-real estate companies seeking strategic and tactical advice regarding property investment, planning, and development. RCLCO leverages quantitative analytics platforms and a strategic planning framework to provide end-to-end business planning and implementation solutions at an entity, portfolio, or project level. With the insights and experience gained over 55 years and thousands of projects, RCLCO brings success to all product types across the United States and around the world. RCLCO is organized into three overlapping and reinforcing service areas: real estate economics, management consulting, and advisory services for institutional investors through RCLCO Fund Advisors. RCLCO is headquartered in Bethesda, MD, and has offices in Los Angeles, CA, Orlando, FL, Austin, TX, and Denver, CO.

Media Contact

Rachel Hoeft
Senior Marketing Manager
E: rhoeft@rclco.com