Estrella by Newland, a 20,000-acre mixed-use master-planned community in Goodyear, reported a record number of home sales in the midst of the COVID-19 crisis.
Many industries have been negatively affected by the pandemic, but Estrella, and its builder’s new home sales have seen impressive growth, company officials said in a news release.
Overall sales are up 44 percent over this time last year, the release stated. The company has sold 582 new homes year-to-date, and is on target to achieve more than 600 sales by the end of 2020.
“Estrella by Newland continues to grow and thrive, even during these unprecedented times,” William Olson, senior vice president for Newland, said in a prepared statement. “The Estrella team is excited to finish the year strong and continue to watch our incredible community thrive.”
2020’s new home sales projections for the Estrella community were forecast to be consistent to 2019, but in 2020 home demand saw a significant shift due to COVID-19.
As of Nov. 1, Estrella had already achieved 134 percent of its 2020 new home sales goal, attributing the spiked in sales to record low interest rates, a tight resale and new home market, and strong demand for new home construction.
In addition to its new home sales, the Golf Club of Estrella also experienced major success, the release stated. Golf is just one of the many outdoor activities seeing high demand. Its golf round segment increased by nearly 1,300 rounds over May to September last year.
Newland’s Estrella community features more than 500 acres of parks and open space, including more than 50 miles of paths and trails, and 72 acres of lakes for boating and catch-and-release fishing, and numerous other amenities. Its land-use plan calls for as many as 50,000 homes and about 1,600 acres of commercial space, with a multi-decade build-out.
For more information, visit estrella.com.
Newland, Estrella’s development manager, is the largest private developer of planned residential and urban mixed-use communities in the U.S.
The company and its affiliates have completed or have more than 140 diverse real estate developments in 13 states under way. For more information, visit newlandco.com.