Month: January 2024

LAKEWOOD RANCH RANKS NO. 1 IN THE NATION FOR SIXTH CONSECUTIVE YEAR

Lakewood Ranch has maintained its ranking as the number one best-selling, master-planned multi-generational community in the nation for an impressive six consecutive years, as recognized by RCLCO, an independent real estate consulting firm. “Lakewood Ranch’s stellar performance this past year is a testament to its dynamic market segmentation strategy, superior marketing, appealing lifestyle, great execution, and the professionalism of the development team,” said Gregg Logan, managing director at RCLCO.

In 2023, despite spiking interest rates, the community achieved 2,257 sales (22% above 2022), marking it as the second-highest sales year in its history. This was partly attributed to builders’ strategic initiatives to draw potential resale buyers into the new home market. Laura Cole, senior vice president of Lakewood Ranch, commended the builders for their efforts in leveraging mortgage buy-downs, accelerated build cycles, and move-in ready homes, while also highlighting the financial benefits of lower insurance and maintenance expenses associated with new construction.

Emphasizing the commitment to enhancing the quality of life, Cole reiterated Lakewood Ranch’s dedication to fostering a vibrant, multi-generational community that caters to diverse life stages and budgets. The community’s recognition in the Urban Land Institute’s new master-planned community publication underscored its segmentation and varied product offerings, acknowledging its broad appeal.  Furthermore, Rex Jensen, president and CEO of Schroeder-Manatee Ranch, the developer of Lakewood Ranch, was honored with Zonda’s 2023 Legend Award, recognizing outstanding contributions to the planned-community sector.

The sales landscape in Lakewood Ranch witnessed a significant shift in 2023, with a notable 37% of new home sales originating from within The Ranch and Sarasota and Manatee counties. “Many of these sales were attributed to renters seeking permanent residency after experiencing limited choices during the pandemic,” Cole said. “Other local sales came from buyers who experienced a life change, precipitating the desire or need for a new home in our community.”

Expanding beyond Florida, markets such as New York, New Jersey, Connecticut, Chicago, Washington, D.C., Atlanta, and Boston contributed significantly to sales, with Tampa and Miami making the top five feeder markets for the first time. Anticipating an increase in in-state moves due to equity growth, Lakewood Ranch foresees more buyers relocating from within Florida.

Celebrating its 30th anniversary in 2024, Lakewood Ranch plans to introduce nine new villages and neighborhoods while launching a newly incorporated section in the northeast comprised of three communities that will have great appeal based on recent successes:  Saddlestone (multi-gen), Del Webb Catalina (age-restricted), and Calusa National Golf (bundled golf). The Ranch is also introducing two new homebuilders to its portfolio, Homes by WestBay and Dream Finders, and Erickson Senior Living will break ground on Emerson Lakes, a 1,200-unit continued care retirement community located north of SR-70. New schools, a county library, enhanced amenities at the Premier Sports Campus, updated town centers, and various other developments are also in the pipeline.

About Lakewood Ranch

Lakewood Ranch is the 33,000+-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 than 66,000 residents and features top-rated schools, the Lakewood Ranch Medical Center, the Sarasota Polo Club, the 75-acre Premier Sports Campus, and three town centers that include theaters, shopping and dining. For more information, visit lakewoodranch.com.