SARASOTA, Fla., March 18, 2011 – Neal Communities signed 39 contracts in the month of February at an average home price of more than $300,000, making this an exceptional month. This represents an increase of 85 percent in number of contracts over last year and the best month for sales since February 2004. Also noteworthy, there were 950 potential buyers who visited the community, representing a 95 percent increase over last February and the highest number of visitors since March of 2008.
“Things have changed since 2008. Activity in our country club communities is reaching we haven’t seen since the mid 2000s. In fact, 20 percent of our contracts this month were in the luxury market,” says Neal Communities President Pat Neal. “Also, with visitor traffic strong, it shows that the future is optimistic and buyers are confident.”
Home sales are strong in the higher end of the market. Twenty of the contracts are from golf course communities of Lakewood Ranch (The Country Club and Country Club East) and Sawgrass in Venice. In fact, seven of the contracts are with Neal Signature Homes, a division of Neal Communities that offers personalized homes for the luxury market. Four of the sales were in Greystone, which is the highest priced neighborhood in the Neal family with prices starting in the low $500,000s for homes and home sites.
“There is now a sense of urgency,” notes John Neal of Neal Signature Homes. “Luxury home buyers see that prices are no longer declining, in fact they are starting to increase. They recognize that the timing is critical to build their dream home.” With this in mind, John Neal recently announced that John Neal Homes is building in University Park County Club again, where homes are priced from the $400s to over $1 Million.
Sales are still strong in Central Park with 11 contracts signed. Other activity includes 9 in the Country Club of Lakewood Ranch, four in Country Club East, four in River Sound, Wisteria Park, Sawgrass, Forest Creek, and Miramar in The Country Club each had two contacts signed. Additionally, there were three contracts in the Belleisle neighborhood, which is Neal’s newest community in Country Club East.
Neal Communities is ranked #1 locally by MetroStudy and by Hanley Wood Market Intelligence based on number of home sales and #126 among home builders nationally in BUILDER Magazine’s 2009 listing based on sales. As the area’s largest and most established locally owned and operated private builder, Neal Communities’ innovative home building, pool construction, development operations and quality customer service standards all contribute to the firm’s continued, record-setting local success. With nearly 8,000 homes built in Southwest Florida, Neal Communities’ honors and accolades include 24 Awards 2010 Parade of Homes, 44 Aurora Awards, five Best in American Living Awards and hundreds of local and regional industry awards. For more information, visit nealcommunities.com.