A review of the effect of golf operations in master planned communities shows that a golf course typically improves sales pace more than it increases home prices. Whereas homes on premium lots, with direct fairway or green frontage, command higher-than-normal prices (10 to 15 percent premiums), homes without golf course frontage command prices similar to those in comparable non-golf subdivisions. The difference is that golf course communities typically experience sales paces that are 15 to 20 percent higher than those of non-golf communities with similar housing products.