Neal Communities reports a record 1,177 home sales in 2017

Neal Communities broke its all-time sales record in 2017, recording 1,177 homes sold and 1,183 homes closed in communities across the state. This marks a more than 6 percent increase in sold homes from 2016.

“For 47 years, I have pursued a conservative business model,” Pat Neal, CEO and chairman of the board at Neal Communities, said in a press release. “We emphasize low leverage, low debt and low risk. Furthermore, Neal Communities is generating capital available for the business every year, and we continue to expect moderate growth.”

Sales have steadily increased for the Lakewood Ranch-based homebuilder over the past four years with consistent year-over-year increases, with 794 sales in 2013, 864 sales in 2014, 1,107 sales in 2015 and 1,109 sales in 2016.

Forty percent of the Neal Communities' home sales in 2017 were inventory homes, or move-in-ready homes for immediate occupancy.

Traditionally, the builder has focused on building most homes priced between $250,000 and $500,000, limiting creation of more expensive homes, priced from approximately $700,000 to $2.2 million by Neal Signature Homes, to about 100 homes per year.

This story was originally published January 9, 2018 at 4:09 PM with the headline "Neal Communities reports a record 1,177 home sales in 2017."