Neal Communities Has 25 Sales In August - Lakewood Ranch Builder Finds More Bright Spots In This Market

SARASOTA, Fla., September 1, 2011 - Neal Communities finished the summer strong with 25 contracts signed in August. There was strong activity in all home types and communities in Lakewood Ranch as well as Venice, Bradenton, and Parrish. The home builder has sold more than 290 homes this year and has already passed its sales numbers from last year. Additionally, there is strong support from real estate professionals. So far in 2011, Realtors® have chosen Neal homes 168 times for their clients.

“We have a history of bucking the trends. Remember that we opened River Sound at the bottom of the market back in 2009. It is now almost sold out,” observes Neal Communities’ President, Pat Neal. “We’re well positioned to be ready for 2012 when the market will come roaring back.”

There are a few bright spots in the marketplace that point to economic turnaround. First, the inventory of homes available for sale is 4.7 months (as of 7/31/11) in Manatee and 6.4 months in Sarasota. Inventory below six months indicates “sellers” market conditions. The Case-Shiller index shows that housing prices have increased the past two months. Nationally, the average price of new homes was up 8 percent over a year ago. Personal incomes nationally have increased for the past 21 months. Finally, home prices increased slightly in the past month.

“New home prices have been bouncing along at the bottom. Those who are on the fence about buying tend to jump in when prices start to rise,” adds Neal. Sales prices for Neal Communities now average $306,761, up 8.5% from last year.

Neal Communities is ranked #1 locally by MetroStudy and by Hanley Wood Market Intelligence based on number of home sales and ranked #94 nationally among home builders by BUILDER Magazine. As the area’s largest and most established locally owned and operated private builder, Neal Communities is continually striving for excellence in every aspect of the home building and development business: Neal Signature Homes, John Neal Homes, Charlene Neal PureStyle, Waterscapes Pools & Spas, and First Continental Mortgage all contribute to the firm’s continued, record-setting local success. With over 8,000 homes built in Southwest Florida, Neal Communities’ honors and accolades include 37 Parade of Homes 2011 Awards, 48 Aurora Awards, five Best in American Living Awards and hundreds of local and regional industry awards. For more information, visit nealcommunities.com.