LAKEWOOD RANCH – For the third year in a row, Lakewood Ranch has been recognized as one of the top 10 best-selling, master-planned communities in the country.
Both California-based John Burns Real Estate Consulting and Maryland-based RCLCO have ranked Lakewood Ranch as one of the top-selling master-planned communities in the United States. Coming in at No. 9 in each of the surveys, Lakewood Ranch outpaced many other recognizable and well-known communities in California, Colorado, Nevada, Washington, D.C., Texas and Florida.
There were, in fact, more than 31,000 visitors to the Ranch’s information centers and models in 2013, which translated into 618 new home sales, up from 573 in 2012 – an increase of 45 units, or an 8 percent increase year-over-year. Lakewood Ranch beat the average increase of 6 percent year-over-year for the top 20 master planned communities, according to RCLCO’s numbers. A favorable reputation and well-developed segmentation strategies contributed to the Ranch’s robust sales, RCLCO said.
The “uptick” in sales was due to the introduction of a new community this past September, Bridgewater by Lennar, which has quickly garnered market acceptance, and also an increase in market share in the Ranch’s first “active adult community,” Esplanade by Taylor-Morrison, said Jimmy Stewart, vice president of sales for LWR Communities. According to John Burns Consulting, active adult communities around the country had an excellent year in 2013 due to great demographics, a strong stock market, and well-qualified buyers.
In 2013, new homes comprised 58% of all home sales in Lakewood Ranch. There are currently 295 single family homes and just shy of 500 apartments in various stages of construction, and Stewart said he expects the trend to continue, with the ongoing success of Bridgewater, the popularity of Esplanade’s active adult product, Country Club East’s new neighborhoods, and Central Park. The future addition of Canadian builder Mattamy Homes’ 675-unit community and Del Webb’s proposed 1,500-home community promises to keep growth strong.
Stewart also noted that less than 2% percent of the existing 8,500 homes in Lakewood Ranch are for sale, thus creating a higher demand for new product.
In addition to the myriad of neighborhood and home product choices, the widely varied offerings of the community are also credited with the Ranch’s continued growth. “With the combination of the success of our commercial properties, our Main Street shopping area, the Premier Sports Campus, Sarasota Polo Club, and the Ancient Oak Gun Club, Lakewood Ranch is clearly the premier new-home destination on Florida’s West Coast,” said Rex Jensen, president and CEO of Schroeder-Manatee Ranch, Inc., the developer of Lakewood Ranch. “The community continues to attract more visitors; once they’re here, they want to stay.”
This is the fourth year that John Burns Real Estate Consulting has ranked top-selling U.S. master-planned communities; for more information visit www.realestateconsulting.com. RCLCO has been ranking master-planned communities since 1994; for more information, visit www.rclco.com.
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