The proliferation of remote work has yielded a suburban real estate boom, particularly in the affordably-priced Inland Empire markets.
With the freedom to work from anywhere, Southern California residents are snapping up larger, lower-priced properties in Riverside and San Bernardino counties. A Realtor.com survey published in August found that the Riverside-San Bernardino-Ontario, CA metropolitan area recorded the steepest inventory decline of any market nationwide as hungry homebuyers from Greater Los Angeles moved in.
However, the recent sale of a 2,590-acre property in Calimesa could deliver 3,052 new homes to the starved Inland Empire market. According to reporting by The Press-Enterprise, the unfinished Summerwind Trails master-planned community has been sold by Irvine developer SunCal to JPMB Investments, an LLC owned by Pasadena-based homebuilder Paul Onufer.
There are 600 lots within the community that are currently being developed by homebuilders Lennar, Meritage Homes, Richmond American and D.R. Horton, such as Camellia Pointe and the sold-out Retreat at Summerwind Trails.
JPMB Investments hopes to satisfy buyer demand by kicking off construction in early 2022 and delivering the new homes by year-end. The 3,000-plus home sites have already been approved by the city, which will help to streamline the process.
Summerwind bears a number of onsite amenities, including 20 miles of trails, 80 acres of planned parks, over 1,400 acres of open space, three planned schools, and a growing retail and business park that already boasts a CVS and Stater Bros. Market.
It’s unclear how much the 2,590-acre site sold for, but it’s been referred to as “the region’s second-biggest sale of lots in eight years.” New single-family homes in Calimesa typically sell in the high-$300,000s to low-$400,000s range, according to BuzzBuzzHome data.
