Dallas-Fort Worth is mastering the art of the master-planned community.
A report released January 4 by RCLCO Real Estate Advisors shows the DFW metro area was home to four of the 50 top-selling master-planned communities last year.
The four DFW communities on the list are:
- Magnolia Point, Royse City, from D.R. Horton, ranked 20th (tied) with 660 homes sold (2020 data unavailable).
- Pecan Square, Northlake, from Hillwood Communities, ranked No. 41 with 502 homes sold, (down 1 percent from 2020).
- Heartland, Heartland (near Forney), from Huffines Communities, ranked No. 42 with 482 homes sold (2020 data unavailable).
- Union Park, Little Elm, from Hillwood Communities, ranked No. 47 with 460 homes sold, (down 24 percent from 2020).
“The boom in work-from-home demand drove record master-planned community sales in 2021,” according to John Burns Real Estate Consulting.
Gregg Logan, managing director of RCLCO, says the survey results indicate demand for new single-family homes in master-planned communities remains high, “with favorable demographic tailwinds suggesting this strong demand will continue in 2022.”
However, lingering supply chain woes and the ongoing COVID-19 pandemic have hampered the ability of master-planned communities to capitalize on that demand, Logan adds.
“As these challenges are resolved in the coming months, we are optimistic for the success of master-planned communities in 2022,” he says.
Houston ranks first among all of the metro areas represented on the list. According to the survey, one-fifth of the country’s 50 top-selling master-planned communities last year are in the Houston metro area. Collectively, the 10 Houston-area communities in the top 50 sold 5,773 homes in 2021, according to RCLCO’s data.
In terms of the success of communities in the Houston area last year, Howard Hughes Corp.’s Bridgeland development in Cypress tops the list. According to the survey, Bridgeland sold 713 new homes last year, down 18 percent from 2020. The 713-home tally puts Bridgeland at No. 16 nationally for the most sales at master-planned communities last year.
The top-ranked master-planned community in Texas is Hunt Communities’ Mission Ridge development in El Paso. Last year, the community sold 811 new homes, good enough for a No. 10 ranking in the U.S. The sales figure for 2020 wasn’t available.