Lakewood Ranch doubles home sales

As the real estate market continues to rebound, home sales in Lakewood Ranch already are on an upswing.

LWR Communities today reported it ended 2011 with 391 new home sales — an increase of 71% compared to 2010.

Of homes sold in the community in 2011, 56% were new homes and 44% were resales.

"Buyers realize that it's more valuable to buy," LWR Communities Vice President of Sales Jimmy Stewart said. "For just about 9% more, you can buy a home custom made just for you in Lakewood Ranch, with a new home warranty, in a new community and at a great value."

Additionally, the average price of a new home in Lakewood Ranch last year was $397,149 — more than double the median home sale price in the Sarasota/Manatee area, which averaged $150,000 for new homes.

The average price of resale homes in Lakewood Ranch last year also was significantly higher — about $364,000 compared to $230,000.

Lakewood Ranch officials said they expect the upswing in new home sales to continue in 2012 because of the recovering economy, new communities such as Esplanade and other economic drivers.

Contact Pam Eubanks at [email protected].