News
New-home sales up 8% in Cinco Ranch
New-home sales in west Houston’s Cinco Ranch community are up 8% for the first nine months of 2009, compared to the same period in 2008.
A total of 697 new homes were sold in Cinco Ranch during the first three quarters of 2009. That compares to 643 new homes sold during the same time last year in the 7,600-acre master-planned community.
Relocation sales have remained strong in Cinco Ranch, accounting for one in three new-home sales in the community so far this year, according to Heather Gould, marketing director for Newland Communities.
“Now in its 19th year of development, Cinco Ranch has built up strong brand equity and awareness among home buyers and Realtors, which has fueled both relocation sales and local move-up sales,” Gould said. “In the present economy, home buyers also seem to be finding a greater level of comfort in investing in a large-scale master-planned community like Cinco Ranch.”
Gould said Cinco Ranch has benefited as the largest and most established new-home community near the Energy Corridor, where employment has continued to be relatively stable. Cinco Ranch was also buoyed this summer when the Texas Education Agency gave its top accreditation rating – exemplary – to 12 of the 13 Katy Independent School District campuses serving the community.
Cinco Ranch has also expanded its new-home product offerings in 2009. In late 2008, a model home park opened to showcase the community’s most affordable new homes, priced from the $160,000s. This fall, Cinco Ranch opened Park Place, a neo-traditional neighborhood with nostalgic architecture and prices from the $280,000s and new builders including J. Kyle Homes. The community also benefited from a custom home showcase that attracted thousands of visitors this spring.
“Offering a variety of new-home styles and price ranges, along with an expanding array of recreational amenities, has also been key to the success of Cinco Ranch,” Gould said.
New-home sales also increased 12% in Telfair, a 2,018-acre Newland Communities development in Sugar Land. A total of 347 new homes were sold in Telfair in the first three quarters of 2009, compared to 313 new homes sold during the first nine months of 2008.
About Cinco Ranch
Cinco Ranch, a Katy, Texas master-planned community, is located 30 miles west of downtown Houston. This 7,600-acre community offers new Houston homes for sale at prices from the $160,000s to over $1 million by over a dozen leading homebuilders. Cinco Ranch currently has about 10,000 homes and upon completion in about 2014 is planned for approximately 14,000 single-family homes, luxury homes, custom homes, townhomes and apartments. Opened in 1991, Cinco Ranch has 11 onsite schools in the Katy Independent School District, along with 10 recreation centers, the 18-hole Cinco Ranch Golf Club and a wide variety of commercial and retail centers including LaCenterra at Cinco Ranch. www.cincoranch.com
About Newland Communities
Newland Communities is the largest private developer of planned communities in the United States. With a legacy that began in 1968, Newland specializes in comprehensive residential and urban mixed-use master planning with expertise in leading large-scale single- and multi-family new-home communities. Headquartered in San Diego, Calif., Newland and its affiliated companies are currently developing and managing nearly 40 projects in 14 states. www.newlandcommunities.com
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