Metro Development Group posted solid growth in 2022 new home sales across its four Tampa Bay area master-planned communities – Epperson, Mirada, Southshore Bay and Angeline. New home sales for these communities – marketed under the MetroPlaces brand – increased 16 percent compared with 2021, despite higher mortgage interest rates.
New home sales in 2022 at the four Tampa Bay area communities totaled 1,625, compared to 1,400 the previous year. In 2022, sales were 766 at Epperson, 430 at Mirada, 373 at Southshore Bay, and 56 at Angeline, the developer’s newest community.
This performance meant three of the communities – Epperson, Mirada and Southshore Bay – ranked among the 50 top-selling master-planned communities in the country according to real estate consulting firms John Burns Real Estate Consulting and RCLCO.
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Metro’s builder partners have continued their positive momentum into the new year, reporting a 20 percent year-over-year increase in sales at the four area communities for January 2022 vs. January 2021. Homebuilders have seen continued interest from buyers: The Tampa Bay area continues to attract new residents from other cities and states, and people living in older homes, condos and apartments around west-central Florida are drawn to new homes in MetroPlaces communities in popular suburban areas in Pasco and Hillsborough counties.
“Our Realtor community has let us know that new home buyers are ready to take action,” said Julie Kremner, Broker Liaison for MetroPlaces. “After a year of rising mortgage rates, buyers have accepted that rates are not likely to drop significantly in the near-future. That is eliminating some of the hesitation around purchasing a home. It also helps that many builders are helping with incentives or mortgage rate buy-downs.”
Metro was proactive in attracting homebuyers in Fall 2022 through a “Waves N Wheels” promotion across the company’s four Tampa Bay master-planned communities. The promotion resulted in 100 homebuyers qualifying for a new ICON electric vehicle cart, and helping builders sell more than 130 homes during the promotion period.
“The Tampa Bay market is evolving as people from around the country are choosing to move and make their homes here,” said Vaike O’Grady, Vice President of Marketing & Communications for Metro Development Group. “Metro and our builder partners are cranking up our efforts to get the word out about the lifestyle and value of our communities, so we can maintain our strong sales momentum.”
Growth in 2022 for Metro also included the opening of Angeline in Pasco County, which will be the largest MetroPlaces community to date. Lennar began home sales there in mid-2022 and will soon be joined by D.R. Horton Homes. The sales pace is expected to increase with the addition of new home designs and the completion of new amenities in this 6,200-acre community.
MetroPlaces communities provide a lifestyle that’s extremely compelling for new home buyers. Recent resident satisfaction surveys rank top locations, the signature Lagoon amenity, and fun neighbors as top reasons for choosing MetroPlaces communities.
Some of the key drivers for success in 2023 for Metro will include continued growth at Angeline and the opening of several new builder models as well as the nation’s largest Lagoon in Mirada. Combined with Epperson and Southshore Bay, Metro will have abundant new home sales opportunities to meet consumer demand.
About Metro Development Group:
A Tampa-based company founded in 2003, Metro Development Group is one of the largest privately held residential developers in Florida. The company’s communities, under the MetroPlaces brand, are known for innovative technologies and high-impact amenities like their extremely popular Lagoons. For more information, visit MetroDevelopmentGroup.com.