Thursday, January 13, 2011
The competition is heating up in the Madeira Master Plan with five builders already vying for buyer’s attention and a sixth builder opening a project on January 15th called Providence by JMC Homes. Even though Taylor Morrison still has the big stack, builders newer to the area are working hard to bring home their own share of buyers. Total home sales per year for the Madeira community have been stuck at around 170 – 180 per year for the last three years with Taylor Morrison leading the game at 86 sales in 2010, 104 sales in 2009, and 45 sales in 2008. In 2009 Axios Homes was just getting started while Cambridge homes was on it’s way out leaving Taylor Morrison (aside from Del Webb’s senior community) to rake in the buyers. During 2010 Axios had a good start with 15 sales but saw added competition from both William Lyon Homes and The New Home Company giving buyers ever more choice. While not yet open as of this writing, JMC appears to be offering some great products stepping in at the higher end of the price and size spectrum making it a likely competitor to Morrisons Teresina product. While I’m not betting any of the new players will knock Morrison off the leaderboards in 2011, it is still encouraging to see that builders are optimistic and are clearly betting on a bright future.
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