Shea Homes saw its sales hold steady through the first quarter of 2013, with its West Valley communities seeing higher than normal sales. Close to two thirds of the sales for Q1 came from Shea’s West Valley communities in Peoria, Buckeye, and Litchfield Park, which is a turn from the boom of its East Valley communities.
“Our overall traffic is up and sales have remained steady from last year, which was a huge recovery over 2011,” said Ken Peterson, VP of Sales and Marketing for Shea Homes. “We have seen hot spots in the West Valley- specifically our luxury homes at Vista Montaña in Peoria, where home prices have averaged $600,000.”
Shea’s two newest product lines, luxury homes and luxury villas, have shown tremendous growth so much so that an additional 23, out of a total of 43 homesites, were opened at Vista Montaña II earlier this year and the luxury villas are being expanded to a new community breaking ground in Verrado later this summer. The new community, called Vallarta at Verrado, will feature 63 homesites with luxury villa floor plans similar to Shea’s Vistancia community; Caletas at Blackstone.
Shea has been active in the East Valley as well, specifically San Tan Valley and Gilbert, where its innovative product SPACES at Evans Ranch has only one inventory home left. Evans Ranch was opened in May 2012 and has sold out ahead of projections. Shea Homes is currently building 9 models at Marbella Vineyards opening late-summer and getting ready to break ground for models at their Bridges communities in Gilbert. With close to 500 lots soon available and showcasing a completely new approach to homebuilding Shea Homes continues to challenge industry standards.
“Our homes at Marbella will be something the Valley has never seen before in homebuilding, it will completely redefine the concept of how the industry has built homes in the past,” said Peterson. “This summer will be an exciting one for us.”