LAKEWOOD RANCH REPORTS ROBUST FIRST QUARTER SALES
Lakewood Ranch closed the first quarter of 2023 with 580 sales, a 17% increase over the same quarter in 2022. In March alone, builders reported 236 sales, which was a 33% increase over the same month in 2022, as well as a 33% gain over the previous month (February of 2023).
Sales have been climbing month over month since September of 2022, but March represented the largest jump in sales since the pandemic housing boom occurred, in late 2020/early 2021.
The growth in sales was attributable, in part, to builders doing a good job in “finding the market” in the more challenging entry-level and family move-up villages, by offering special financing, flex cash and closing cost contributions.
The luxury market also saw increases, including the opening of Wild Blue, a new luxury home neighborhood in Waterside.
Laura Cole, senior vice president of LWR Communities, LLC, said that Florida is still seeing a great deal of in-migration from other states, but more recently, the Ranch has been experiencing increasing moves from within Florida, mostly from high-priced, congested regions. The Ranch’s ongoing sales successes are due to the variety of neighborhoods, home styles, and price points that continue to be offered to various buying segments. The introduction of neighborhoods with more attainable price points in 2023 will round-out and drive additional sales.
Also, rentals have become a major source of new home buyers – a number of new apartment and build-for-rent communities have opened or are nearing completion. “Many people want to move to Lakewood Ranch but haven’t made a final purchase decision,” Cole said, “or want to give Lakewood Ranch living a test drive. We are able to offer options for potential buyers, no matter where they are in their decision making.”
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 63,000 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.