The Reserves, a gated enclave by Shea Homes in Gilbert, is open for sales.

About 400 people have toured the models of the housing development, located on Val Vista Drive just south of Riggs Road, since its grand opening on May 6, according to publicist Elaina Verhoff.

Prices begin at just under $500,000.

Although interest is high, just five buyers have begun the sales process. Shea Homes attributes the low number to an unexpected delay in option pricing. Once option information and pricing is finalized early this month, the builder expects an uptick in sales from the customers who have been involved in the home-buying process but haven’t yet moved forward, Verhoff said.

The Reserves features home sites of more than a quarter-acre; it also offers four single-story floor plans with dream kitchens, functional outdoor rooms, sizeable bedrooms, four-car garages, and many options for personalization.

Its tree-lined streets lead to activity-filled areas including hopscotch, giant chess, bocce ball, barbecue grills, picnic tables and ramadas.

Michael Woodley of Woodley Architectural Group in Colorado designed the elevations.

“We have a great location and excellent new homes that we designed for that community,” said Ken Peterson, VP of sales and marketing. “With the nice elevations, we knew we were going to get quite a bit of interest, but not this much interest.”

Shea Homes has a few houses remaining at Evolve at Marbella Vineyards; its two other neighborhoods, Inspire and Intrigue, are sold out.

More new communities are being planned to begin later this year and next.

While the Southeast Valley’s real estate market is not “robust,” it’s “definitely significantly better than it has been,” Peterson said, adding that prior to the last recession, the real estate industry was issuing 40,000-50,000 new house permits Valleywide.

“Now, we’re doing around 20,000,” he said.