By Margaret Jackson / NewsBreak Denver
Three Colorado master-planned communities landed on the Top 50 Master-Planned Communities list compiled by John Burns Real Estate Consulting.
The Colorado communities making the list are RainDance in Greeley, Sterling Ranch in Douglas County and Banning Lewis Ranch in Colorado Springs.
RainDance, developed by Water Valley Land Co., saw the biggest increase in the number of homes sold. The developer reported 683 homes sold in 2021 — a 177% increase over the 247 sold in 2020.
Sterling Ranch, developed by Sterling Ranch Development, reported 471 homes sold in 2021, a 20% increase from the 391 sold the previous year; and Banning Lews Ranch, developed by Oakwood homes, reported 466 homes sold in 2021, down 22% from the 600 sold in 2020.
More than 39,000 home buyers purchased new homes in the communities nationwide in 2021 — a 9% increase over 2020 and exceeding the 31,000 sales captured by the Top 50 Master Plans in 2019.
“Master-planned communities are popular because they offer home prices and sizes in a variety of ranges from entry to luxury to active adult in one location,” said Devyn Bachman, vice president of research at John Burns. “That generates additional sales when you’re not targeting one consumer group.”
The amenities master-planned communities offer also appeal to homebuyers, Bachman said.
RainDance, for example, offers the RainDance River Resort, which puts Northern Colorado’s largest water park right in residents’ backyard. It features a lazy river, water slide, lap lanes and a play pool.
The development also has 15 miles of trails and a nearby connection to the 21-mile Poudre River Trail Corridor.
The Homestead Welcome & Events Center is available to rent for residents and also is the home of Ted’s Sweetwater Grill.
Master-planned communities like Denver’s Central Park (formerly known as Stapleton) and The Meadows that previously made the list dropped off because of the lack of available lots, Bachman said.
“Their numbers are down because they don’t have any lots,” she said. “They experienced robust demand for homes and lots and blew through the land pipeline.”
Bachman said she expects more master-planned communities to pop up along Colorado’s Front Range.
“As Denver expands, it’s expanding into the northern and southern bounds of the market,” she said. “Locations like Greeley and Colorado Springs look more attractive than ever — both for affordability and lifestyle.”