New home sales up in Lakewood Ranch

Lakewood Ranch developer Schroeder-Manatee Ranch officials announced today new home sales in the community are up 35% compared to the same time last year.

More than 120 new homes have been sold in Lakewood Ranch in the first quarter of 2012, compared to 91 for the same time last year.

"We continue to buck state and national trends here," said Jimmy Stewart, vice president of sales in Lakewood Ranch. "There is more value to buy new than to buy a resale, and it is certainly a buyer's market."

Steward said the community's biggest challenge going forward will be keeping up with the demand and providing more lots for builders to sell.

Of new homes sold this quarter, 22 or 123 were in Esplanade, Taylor Morrison's new active lifestyle community.

The average sales price of a new home was $385,000. There currently are 60 inventory homes available and close to 195 homes under construction.

Contact Pam Eubanks at [email protected].