Ranch predicts increased home sales

Lakewood Ranch is celebrating a top sales year with nearly 250 new home sales and expects to sell even more new homes in the coming year.

“It’s clear buyers feel confident in the market and the value here,” said Milt Flinn, president of LWR Communities. “We are estimating 350 new home sales next year with 50 furnished models completed by the end of the first quarter and several new neighborhoods coming on board in 2011.”

Eleven home sales in 2010 topped $1 million, and the average sales price came in at just more than $450,000.

Lakewood Ranch also is leading the market in commercial real estate with its 11% vacancy rate compared to the 13% in downtown Sarasota and 22% in the remainder of the local market.