Newport Beach builder sells out 149-home project in Chino Hills in 2 years
Prices ranged from mid-$500,000s to low-$800,000s.
Trumark Homes says it’s sold all 149 homes at its Bristol community in Chino Hills.
The Newport Beach-based homebuilder’s 31-acre community, designed by KTGY Architecture+Planning, began selling in March 2017.
The project — which won community-of-the-year honors from Builder & Developer magazine — has homes from 1,814 to 2,945 square feet in size with 107 two-story, single-family detached homes and 42 attached three-story townhomes. Prices ranged from the mid-$500,000s to low-$800,000s.
Trumark says 60% of Bristol buyers were from Los Angeles County, mostly Diamond Bar, Arcadia and Walnut; 30% were from Chino and Chino Hills, and the rest were from Orange County and elsewhere in the Inland Empire.
“The success we’ve experienced at Bristol is a direct response to local buyers’ desire for convenience and accessibility in a rapidly growing and urbanizing area,” said Richard Douglass, Trumark’s Southern California division president.
Elsewhere in Southern California, Trumark is preparing for final sales at its Founders community (76 homes), also in Chino Hills; Lewis+Mason, 153 three-story townhomes in Anaheim’s Platinum Triangle; and Centerhouse, 114 condominiums in Ontario.
The market for new homes is tepid.
New-home sales in Riverside and San Bernardino counties fell 14% to 1,667 units in the first quarter, according to CoreLogics. And MetroStudy says the Inland Empire had 1,707 finished homes for sale as of March 31. That’s up 29% over 12 months and up 25% vs. the five-year average.
As a result, builders are pruning future plans. Riverside and San Bernardino counties have 2,616 units under construction, down 25% in a year and down 9% vs. the five-year average.