2012 New Home Sales Surpass 2011
Tuesday, April 10, 2012
FIRST QUARTER 2012 NEW HOME SALES SURPASS 2011
In the first quarter of 2012, new home sales in Lakewood Ranch, Fla. surpassed last year’s numbers by 35 percent. There were 123 sales this quarter, compared to 91 in 2011. “We continue to buck state and national trends here,” said Jimmy Stewart, vice-president of sales in Lakewood Ranch. “There is more value to buy new than to buy a resale, and it is certainly a buyer’s market. Our biggest challenge now is keeping up with the demand and providing more lots for our builders to sell,” said Stewart.
Of the 123 new home sales, 22 were in Esplanade, Taylor Morrison’s new active lifestyle community that just opened this year. The average sales price of a new home in Lakewood Ranch was $385,000 during the first quarter and with 18 new home builders on the Ranch, there are currently 60 inventory homes available and close to 195 homes under construction.
Haddington will be the next new neighborhood to open in Country Club East, a gated community off Lorraine Road in Lakewood Ranch. Haddington will feature 76 new homesites and should open for sales this summer.
Schroeder-Manatee Ranch, Inc. President and CEO Rex Jensen expressed pride that Lakewood Ranch is bucking the trend of resales overshadowing new home sales. Jensen also pointed to growing demand for new rental apartments in the successful, master-planned community. “I am pleased that Lakewood Ranch is experiencing a surge in demand for residential product of all types and price points,” Jensen said. “We are actually looking to bring on new builder partners in our single and multifamily product offerings. Few other Florida communities can say that.”
The active employment market in the master-planned community, coupled with great schools and amenities, attracts more buyers than most Florida communities.
Commercial real estate is also in full swing on the Ranch, with more than $150 million of new construction almost complete north of State Road 70 including road widening projects, the new Lost Creek Resort Apartment complex, LECOM’s new dental school, and several other commercial projects.
Jensen said several things are driving the upswing -- first and foremost the job center that’s been created in Lakewood Ranch, but also new communities like the active-lifestyle neighborhood Esplanade by Taylor Morrison, and bold, creative moves to revive the local economy like the creation and development of the Premier Sports Campus, which opened in early 2011 in Lakewood Ranch.
"Those positive economic drivers certainly are making a difference,” said Florida Secretary of Commerce Gray Swoope, who serves as president & CEO of Enterprise Florida Inc., the state’s principal economic development organization. “During a recent visit to Lakewood Ranch, I witnessed it firsthand as I learned about the area’s attributes and unique opportunities that are benefiting the state’s economy as well as Manatee County’s.”
In 2011, the economic impact to the region totaled more than $30 million from events and tournaments at the Premier Sports Campus in Lakewood Ranch. “From the beginning, our philosophy has always been centered on economic development,” said Jensen. “We have always and will always strive to create two jobs for every home in Lakewood Ranch. “
Lakewood Ranch is the 8,500-acre award-winning master-planned community in Sarasota and Manatee counties on the West Coast of Florida. Just minutes from the Gulf Coast beaches, and cultural assets in Sarasota, Lakewood Ranch is already home to more 15,000 residents and features A-rated schools, a hospital, the Sarasota Polo Club, a 75-acre sports complex, its own Main Street with theaters, shopping and dining, and four million square feet of commercial property. For more information visit www.lakewoodranch.com.