Homebuilders gobbled up land in Surprise, an area that appears to be a sweet spot for new homes.
After selling more than 700 homes at a community in Surprise since 2018, Landsea Homes has bought another 122 lots in that growing area.
The Newport Beach, California-based homebuilder (Nasdaq: LSEA) paid $7.3 million to Courtland Communities for a 28.7-acre parcel west of the northwest corner of Grand Avenue and Deer Valley Road in Surprise, according to Tempe-based Vizzda LLC real estate database. The deal essentially works out to $254,466.20 per acre.