21 Top-Selling Masterplans Sold Nearly 14,100 New Homes in 2015

Top 21 Master-Planned Communities of 2015

TOP-SELLING MASTER-PLANNED COMMUNITIES Ranked by 2015 Net Sales

1 THE VILLAGES The Villages, FL (Central FL)

2 THE IRVINE RANCH Orange County, CA

3 NOCATEE Jacksonville, FL

4 STAPLETON Denver, CO

5 RIVERSTONE Houston, TX

6 SUMMERLIN Las Vegas, NV

7 ALAMO RANCH San Antonio, TX

8 EASTMARK Phoenix, AZ

9 LAKEWOOD RANCH Sarasota, FL

10 CANE BAY PLANTATION Charleston, SC

11t LAKE NONA Orlando, FL

11t WESTRIDGE Dallas, TX

13 VISTANCIA Phoenix, AZ

14 PROVIDENCE Las Vegas, NV

15 PALOMA CREEK SOUTH Dallas, TX

16 VALENCIA Los Angeles, CA

17 ALIANA Houston, TX

18t CANYON LAKES WEST Houston, TX

18t WILDWOOD AT NORTHPOINTE Houston, TX

20t DAYBREAK Salt Lake City, UT

20t WOODFOREST Houston, TX

By Jody Kahn and Devyn Bachman

CONTINUED >>

John Burns Real Estate Consulting, LLC (JBREC) congratulates the top 21 masterplans in the country on their strong new home sales in 2015. To identify the top 21, which includes a tie at #20, JBREC associates considered over 230 communities nationwide. Feedback from numerous industry contacts and our boots-on-the-ground consultants supports the diligent research that went into producing our prestigious, annual ranking. Sales at each of the top three masterplans exceeded 1,000 new homes in 2015, and we have ranked them in the same order as last year: The Villages (#1), The Irvine Ranch (#2), and Nocatee (#3).

• Top21communitiesreflect3%ofnewhomesales. Together, the top 21 communities sold nearly 14,100 homes, which we estimate to be 3% of new, single-family home sales nationally in 2015.

• Combinedsalesincreasedby12%over2014.The combined sales for the top 21 communities increased by 12% over 2014, stronger than the 9% year-over-year increase in sales as of November, indicated by our national builder survey. The strong rate of sales growth demonstrates the continued appeal of masterplans, which offer buyers a desirable lifestyle incorporating schools, recreation, convenience, and value.

More ranking and sales data can be found on the following page.

We will release our complete ranking of the top 50 selling communities this week.

We will release our complete ranking of the top 50 selling communities this week.

Top 21 Master-Planned Communities of 2015

• Texasdelivers8ofthetop21,with5inHouston. Houston developers contributed 5 of the top 21 communities, led by over 600 sales at Johnson Development’s Riverstone community. Low oil prices and slowing economic growth remain concerns in Houston, yet lot shortages and delays associated with heavy rain and flooding earlier in 2015 limited sales in many communities. Alamo Ranch continues to represent San Antonio, with several builders selling out in 2015, and Westridge and Paloma Creek Ranch reflect very strong sales on the north side of Dallas.

• 4Floridamasterplanscontinueinthetop21.The Villages remains the only community in the nation to surpass 2,000 sales in one year—and all produced by one builder/developer. The PARC Group’s Nocatee community in Jacksonville captured a huge 30% increase in sales year over year. Lakewood Ranch in Sarasota and Lake Nona in Orlando both produced double-digit sales increases and remain perennial favorites with buyers.

• ImprovedsalesinPhoenixandLasVegasproduce2topmasterplansapiece. Phoenix housing market conditions improved in 2015, contributing to a whopping 173% year-over-year increase in sales at DMB’s Eastmark community, the largest gain of all the top 21 masterplans. Vistancia Land Holdings/Stratford Land’s Vistancia also more than doubled its sales in 2015. Summerlin and Providence remain in the top 21, which is notable given that Las Vegas continues to recover more slowly than many other metros.

• We excluded most single-builder communities fromthetop21. Our research turned up a dozen masterplans where a single public or private builder captured sales on par with the multiple-builder communities. We have agreed not to publish these builders’ amazing but confidential results, with the exception of The Villages.

We will be publishing our Top 50 list in a few days. Contact us if we have not spoken with you and your master-planned community sold at least 200 homes in 2015.

Please contact Jody Kahn for more information on our methodology and results.

FOR MORE INFORMATION:

JODYKAHNSr. Vice President603-235-5760jkahn@realestateconsulting.com

DEVYNBACHMANResearch Analyst303-956-9881dbachman@realestateconsulting.com

1 1

2 2

3 3

4 7

5 4

6 17

7 6

8 N/A

9 9t

10 23

11t 19

11t 34

13 N/A

14 11

15 N/A

16 9t

17 8

18t 22

18t 16

20t 28t

20t 20

2,294 2,601

1,674 1,431

1,105 851

665 508

609 719

602 437

560 585

554 203

535 475

520 385

500 419

500 301

466 225

452 487

450 394

444 493

443 500

440 410

440 442

415 337

415 417

-12%

17%

30%

31%

-15%

38%

-4%

173%

13%

35%

19%

66%

107%

-7%

14%

-10%

-11%

7%

0%

23%

0%

THE VILLAGES The Villages, FL (Central FL)

THE IRVINE RANCH1 Orange County, CA

NOCATEE Jacksonville, FL

STAPLETON Denver, CO

RIVERSTONE Houston, TX

SUMMERLIN Las Vegas, NV

ALAMO RANCH2 San Antonio, TX

EASTMARK Phoenix, AZ

LAKEWOOD RANCH Sarasota, FL

CANE BAY PLANTATION Charleston, SC

LAKE NONA Orlando, FL

WESTRIDGE Dallas, TX

VISTANCIA Phoenix, AZ

PROVIDENCE Las Vegas, NV

PALOMA CREEK SOUTH3 Dallas, TX

VALENCIA Los Angeles, CA

ALIANA Houston, TX

CANYON LAKES WEST Houston, TX

WILDWOOD AT NORTHPOINTE3 Houston, TX

DAYBREAK Salt Lake City, UT

WOODFOREST Houston, TX

Villages of Lake Sumter, LLC

The Irvine Company

The PARC Group

Forest City Enterprises

Johnson Development Corp.

The Howard Hughes Corporation

Galo Properties

DMB

Schroeder-Manatee Ranch, Inc.

Gramling Brothers Real Estate & Development

Tavistock Group

D.R. Horton

Vistancia Land Holdings/Stratford Land

Focus Property Group

Provident Realty Advisors

Five Point Communities/Newhall Land

Aliana Development Company

Land Tejas Company

Friendswood Development Company

Kennecott Land

Johnson Development Corp.

2015 20152014

Rank increased 1The Irvine Ranch includes Cypress Village, Portola Springs, Stonegate, and Orchard Hills2Estimates3PreliminaryRank declined

2014

Rankings Developer Net Sales YOY%∆

SOURCE: John Burns Real Estate Consulting, LLC (January 2016)

TOTAL 14,083 12,620 12%

Top 21 Master-Planned Communities of 2015

Project Name and Location

Top 21 Master-Planned Communities of 2015

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John Burns Real Estate Consulting, LLC takes great pride in our highly educated, resourceful, and experienced team that includes practitioners with 25+ years of experience in both home building and community development. As a research client, you gain access to our team across the nation to discuss market conditions, our current research, and our forecasts.

Top 21 Master-Planned Communities of 2015

ATLANTA, GA770-286-3493

DALLAS, TX214-389-9003

IRVINE,CA949-870-1200

RALEIGH-DURHAM,NC919-599-4800

WISCONSIN920-373-6727

REGIONAL OFFICE LOCATIONS

CHICAGO,IL630-544-7826

HOUSTON,TX770-286-3493

PORTLAND, OR281-605-8185

WASHINGTON,DC703-447-7171

BOCA RATON, FL561-998-5814

DENVER,CO720-328-1530

LASVEGAS248-797-4469

SACRAMENTO, CA949-870-1227

CHARLOTTE,NC704-989-1190

FORT MYERS, FL770-286-3493

NEW ENGLAND603-235-5760

SAN DIEGO, CA858-281-7200