Good sales figures for the second quarter of 2011 have forced builders in Lakewood Ranch, Florida to re-evaluate prices.
The move to increase lot prices will be the first raise since 2006, and Milt Flinn, LWR Communities president says "The demand has just been so high since the beginning of this year that we are going where the market takes us. The pace of sales is creating a sense of urgency and a domino effect - people want to get the best lots and the best value."
Lot prices will increase from between $8000 and $18,000, with new prices taking effect from July 25. There are 40 new home models in the Lakewood Ranch, and 160 homes are currently being built offering a great deal of choice for purchasers. The development has seen a whopping 70% increase in walk-in traffic for this quarter and so far over 18,000 people have visited the new home models and information centers.
A healthy 47% of those visiting say they intend to purchase a new property within the next nine months, and according to Jimmy Stewart, LWR Community's director of sales, "People have been looking for a while, and now that the time is right, they are zeroing in on what to buy."
Sales at the Country Club East and the Lake Club are up 142% on last year. There has been $11 million worth of sales for these two neighborhoods alone since the start of the year. The luxury homes market has seen a significant upturn, and this has accounted for $3 million worth of sales in The Lake Club since the beginning of 2011.
There have been 206 new homes sold in Lakewood Ranch since January 1, spread between 19 builders, and Flinn says "Buyers here realize that master-planned communities hold tremendous value, and the fact that we have been ranked the number 12 community in the nation only helps to drive these positive results."