We know Lakewood Ranch sells lots of homes. Now we know who’s buying those homes

Developer Schroeder-Manatee Ranch’s sophisticated marketing plan for Lakewood Ranch works in part because of its success in picking up on consumer trends.

This week, during a quarterly builders meeting at The Lake Club’s Grand Clubhouse, SMR staff shared some of the home-buying trends it has seen.

One of the most striking national findings is that there is a major shift in household composition coming through 2025 with two-parent families with children representing a minority of the total — 26 percent, said Laura Cole, vice president of marketing for SMR.

The largest segment of household formation will be for ages 25-44 and ages 65 plus, accounting for 74 percent of the total.

The age group 45-64 would be the smallest growth segment, Cole said, citing research by John Burns Real Estate Consulting.

While the shape of future growth is still coming into focus, Cole presented fresh information on who is moving to Lakewood Ranch.

Forty-six percent of sales and resales of homes in 2018 were to baby boomers. Twenty-five percent were to Gen X-ers, followed by 18 percent to millennials and 11 percent to matures. The percentage of sales to baby boomers and matures declined slightly from 2017, while sales to Gen X-ers and millennials increased.

Beyond the statistics, SMR is attempting to cater to more subtle yearnings among consumers for a less stressful, quieter, simpler life, what they call a “license to chill.”

More than half of the members of all age groups, except boomers, reported that stress interferes with their ability to lead a healthy life. And even among boomers, 39 percent, said that stress is a problem.

Consumers are searching for positivity in their lives. Ninety percent said there needs to be more mental health services in the country, according to research presented at the builders meeting this week.

More than two-thirds of respondents said they thought it is important to take time to relax, while 32 percent thought it is important to be constantly doing something productive.

In fact, 80 percent of respondents in a survey said they would rather stay home with their families than go out.

The significance of the Brain Health Initiative at Lakewood Ranch dovetails nicely with desire for a healthier, less stress-filled life, Cole said.

In March, Massachusetts General Hospital, a Harvard Medical School teaching hospital, and The Academy for Brain Health and Performance, announced the brain-health initiative would be based at Lakewood Ranch.

Sharon Hillstrom, president and CEO of Bradenton Area Economic Development Corp., who briefed builders on efforts to attract companies with higher paying jobs to the community, also took note of the brain health initiative.

“This is a gift. For a high-profile institution to say this is the place speaks volumes,” Hillstrom said.

Florida buyers make up roughly half of home sales at Lakewood Ranch, and about half of those come from the Manatee-Sarasota area.

Tampa remains the largest feeder market for young families, who buy at Lakewood Ranch for proximity to job markets, A-rated schools and family amenities.

The Ranch continues to pull buyers from high tax markets in the Northeast. New York and New Jersey account for almost a quarter of all outside new home purchases. There has been growing activity from the Mid-Atlantic, including Washington, D.C., Virginia and Maryland, as well as California, SMR has reported.

With 14,731 homes already existing in its 25th year, there seems to be no slowdown in growth. In the first quarter of 2019, SMR reported 417 sales, including having the best sales March in its history. For the year, 1,290 homes sales are projected.

Growth has not been limited to home sales. In the past year, Lakewood Ranch added 1.1 million square feet of commercial development, representing 222 businesses and 2,631 jobs.

This story was originally published April 29, 2019 at 5:16 PM.