Low Price a Common Factor in Best-Selling Communities
Real estate auctions played a lesser role in the marketing of best-selling developments in the Southland in the first quarter of 1993, with only two of the 25 most active projects using auctions, according to the Meyers Group, an independent market research and consulting firm.
By contrast, in the fourth quarter of 1992, 10 of the top 25 best-selling developments were auction projects. Of the top five best-sellers, only one was an auction project in the first quarter, compared to three of the top five in the previous quarter.
The best-selling development in the first quarter was a market niche project, Sun City Palm Springs by Del Webb, which sold 89 units by focusing on the active adult/retirement market.
Low price also played a major role in the top 25 this quarter, with projects ranging from entry-level single-family detached in outlying communities (such as Adelanto in San Bernardino County) to entry-level attached in suburban communities (such as Mission Viejo in Orange County).
25 Best-Selling Developments in Southern California
Project Name Type Community Developer 1. Sun City det. Sun City Del Webb Corp. Palm Springs Palm Springs 2. 4th Street att. Santa Monica Signature Group 3. Victory Lane det. Adelanto Inco Homes 4. California Summit det. Canyon Country Kaufman & Broad 5. Rancho Del Oro det. Desert Hot Springs Sanberg & Prtnrs. 6. California Heights det. Glendale Kaufman & Broad 7. Sunset Palms det. West Covina Lewis Homes 8. Sonora Springs det. Chino Hills Shawntana 9. Spirit det. Victorville Inco Homes 10. California Hillcrest det. Chino Hills Kaufman & Broad 11. Young Homes det. San Bernardino Young Homes 12. Cobblestone det. Corona Davidson Comm. 13. Rancho Vera Cruz att. Tustin Irvine Pacific 14. California Terrace att. Mission Viejo Kaufman & Broad 15. Northview det. Oceanside Centex Homes 16. Rio det. Temecula Mesa Homes 17. Hometown det. Adelanto Inco Homes 18. New Beginnings det. Rialto Forecast Corp. 19. Country Park det. Rancho Cucamonga Brock Homes 20. Cabo det. Temecula Mesa Homes 21. Mirabella att. Mira Mesa Pardee Const. 22. American Dream det. Victorville Paragon Homes 23. Mountain Shadows det. Rancho Cucamonga Pennhill Dev. 24. Westchester Woods att. Westchester Gangi/Kevin Davi 25. Calif Foothills I det. Palmdale Kaufman & Broad
Sold Qrtly 1. 89 2. 83 3. 62 4. 61 5. 61 6. 53 7. 53 8. 45 9. 44 10. 43 11. 41 12. 38 13. 38 14. 37 15. 35 16. 32 17. 31 18. 31 19. 31 20. 31 21. 30 22. 30 23. 30 24. 29 25. 29
In the event of a tie, projects arranged by overall weekly sales rate/total sales.
SOURCE: The Meyers Group
