12 Florida Master-Planned Communities Make Top 50 List
John Burns Real Estate Consulting recognized the nation’s top 50 master-planned communities, saying more than 37,000 people moved to one of them in 2020.
NEW YORK – The John Burns Real Estate Consulting team recently recognized the nation’s top 50 master-planned communities. The list of top U.S. developments included 12 in Florida.
According to the report, more than 37,000 home buyers purchased new homes in one of the 50 top communities in 2020, up 31% from 2019 and a new sales record.
Six master plans achieved sales of 1,000 new homes or more in 2020, rising from five in 2019, including three master plan communities in Florida. New home sales at this year’s top 50 master plans increased in Florida, Texas, southern California and the Southeast.
In Florida, the 12 master-planned communities that made the Top 50 list include The Villages of Lake Sumter at No. 1, Lakewood Ranch at No. 2 and Wellen Park at No. 4.
While the report noted that demand for master-planned communities is expected to remain strong and home prices will continue to rise in 2021, finished inventory per community remains low. It fell 54% year-over-year to less than one completed home per community on average.
Builders said they’re restricting sales at 28% of their communities nationally to align with production capacity and lot supply. However, some of the new lot supply won’t be ready until the second half of 2021, particularly in markets with difficult approval processes. That timeframe could also be extended by construction product delays and shortages.
Florida communities in the top 50 list
1. The Villages, Villages of Lake Sumter LLC (Sumter County)
2. Lakewood Ranch, Schroeder-Manatee Ranch Inc. (Sarasota)
4. Wellen Park, Wellen Park LLLP (Venice)
8. Nocatee, The PARC Group (Ponte Vedra)
18. Viera, The Viera Company (Viera)
19. Westlake, Minto Communities (West Palm Beach)
20. (tie) Lake Nona, Tavistock Group (Orlando)
20. (tie) Latitude Margaritaville, Minto Communities (Daytona Beach)
34. Babcock Ranch, Kitson Partners (Babcock Ranch)
35. Starkey Ranch, Wheelock Communities (Tampa Bay)
38. Ave Maria, Barron Collier (Ave Maria)
40. Bexley, Newland Communities (Land O’ Lakes)
Source: South Florida Agent (01/07/21) Kennedy, Kerrie
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