Lakewood Ranch home sales set a record in 2020, with 30 percent more sales than in 2019
Buyers snapped up 2,149 new homes in Lakewood Ranch in 2020, 501 more than in 2019.
The 30 percent increase in sales year-over-year is the best sales year on record for Lakewood Ranch, which was already the best-selling, master-planned multi-generational community in the country.
The record sales year kept Lakewood Ranch as the top selling multi-generational community in the United States for the third year, according to independent real estate consulting firms John Burns and RCLCO.
Lakewood Ranch is now home to an estimated 42,000 residents and 1,600 businesses.
While COVID-19 has driven some buyers to act, there are longer term trends at play as well, Laura Cole, senior vice president of Lakewood Ranch, said in a press release.
“The pandemic caused an acceleration of purchase decisions for some buyers already in the market, especially young families seeking their first home and people nearing retirement,” Cole said. “A strong desire to upgrade one’s quality of life through home and place was a powerful motivator to purchase a home this year.
“Many buyers said that COVID-19 has created a need to reestablish roots in an environment that affords a more connected and active lifestyle, while offering ample open space and tranquility,” Cole said.
Even with restrictions in place, buyers have been purchasing homes – in many cases, sight unseen – with the help of interactive chats and virtual community presentations from the Lakewood Ranch Information Center.
Lakewood Ranch offers homes from the $200,000s to more than $1 million. There are more than 20 villages and more than 20 different builders, including four new villages that opened in 2020: Taylor Morrison’s Esplanade at Azario, Lennar’s Lorraine Lakes, Neal Communities’ Windward, and Pulte’s Sapphire Point.
“The community was prepared to meet increased demand from the millennial buyer while still accommodating move-up families, empty-nesters, retirees, and seniors,” Cole said. “Our strength continues to come from the diversity of our neighborhoods and homes, abundance of shopping, dining, and services, job base, and exceptional lifestyle offerings.”
Waterside Place, one of three town centers in Lakewood Ranch, has drawn widespread attention as it nears a second quarter of 2021 completion. Located on the southern edge of the Ranch in Sarasota County, it will be a blend of arts and entertainment, with diverse dining options, commercial, retail and office space, and an eight-acre park, which will be the eventual home of the Farmers’ Market at Lakewood Ranch.
Also attractive to buyers is Lakewood Ranch’s status as a major job center, with more than four million square feet of commercial real estate in place and entitlements for up to 14 million. There are more than 1,350 businesses in diverse sectors such as biomedical, technology, insurance, and education.
