A recent study found that the sales of homes located in master-planned communities are at the highest level they have been in more than three years.
According to real estate data from Robert Charles & Lesser Co., this surge of home sales in this sector has been prompted by an improving economy and greater stability in the job market. However, the company noted that the developers of these communities are implementing new strategies that may also be strengthening the sales rate.
One such strategy is product innovation, the survey found. To keep up with the presence of distressed properties weighing down on overall home prices, developers have started to competitively price the homes in these communities, while also offering homes built with better standards, including building materials and amenities.
Additionally, developers are also marketing the homes in master-planned communities in ways that better correspond with the present times by using social media outlets, such as Facebook and Twitter.
With mortgage rates hovering near all-time lows, and a significant portion of the American population reaching the age of retirement, the sales rate of homes in master-planned communities could continue to grow and gain momentum during the course of 2012.