Press Releases,Waterside,Waterside Place
Thursday – January 5, 2023
Lakewood Ranch was recognized as the best-selling, master-planned multi-generational community in the country for the fifth year in a row by RCLCO and John Burns, two independent real estate consulting firms.
The Ranch saw 1,846 new home sales in 2022. Although sales were down from a record-breaking 2021, Lakewood Ranch exceeded 2019 sales, the last year there was a balanced real estate market.
Lakewood Ranch benefitted from being in the nation’s fastest growing state as well as the Sarasota/Bradenton area which increasingly appears in national and international rankings for its high quality of life. While the Florida real estate market fared better than most, in the second quarter of 2022 buyers became more cautious, narrowing their search to well-established communities with a proven track record.
“For nearly three decades, Lakewood Ranch has fostered a sense of place, community, and belonging. Our diversity of experiences, access to nature and services, and top-quality schools and healthcare are all here to be enjoyed TODAY. That is reassuring for home buyers in this more uncertain market,” said Laura Cole, senior vice president of LWR Communities, LLC.
Cole also attributes Lakewood Ranch’s sales success to the variety of neighborhoods, home styles, and price points offered to buying segments, including multi-gen, entry-level, family move-up, retiree and active adult, and luxury/custom buyers.
“In this market, communities that create the most certainty for the buyer will outpace the others. Lakewood Ranch performed, and is well-positioned to continue to do so,” Cole said. “Our multigenerational appeal remains our largest differentiator; we are opening seven new neighborhoods this year priced from the $300s to $1 million+. We are also opening a number of new apartment and build-for-rent communities.”
Rentals have become a major source of new home buyers. “Many people moved to Lakewood Ranch in the past few years but couldn’t buy a home due to limited supply, so they rented and are now ready to buy,” Cole said.
Tourism has been another sales driver. “Hurricane Ian has drawn buyers and tourists from the affected areas and other coastal markets to our area, and more specifically to Lakewood Ranch,” Cole said. “Also, Sarasota-Bradenton International Airport’s exponential growth has opened many new markets via the addition of numerous direct flights.”
Cole also pointed to lifestyle shifts that occurred during the pandemic as benefitting sales, including suburban preferences, multi-generational moves, and increased outdoor recreation.
One of Lakewood Ranch’s best sales’ resources continues to be Ranch residents themselves, Cole said. “Friends and family who visit and enjoy activities, such as Music on Main or the Farmers’ Market at Waterside,” she said. “They’re able to experience the lifestyle, the camaraderie, and the diversity of amenities for themselves. Many end up coming back to rent or purchase their own home. We have many families who have three generations living in the same village or the greater Lakewood Ranch community!
About Lakewood Ranch
Lakewood Ranch is the 33,000+-acre award-winning master-planned community in Sarasota and Manatee counties on the West Coast of Florida. Just minutes from the Gulf Coast beaches and cultural assets in Sarasota, Lakewood Ranch is already home to more than 60,000 residents and features A-rated schools, the Lakewood Ranch Medical Center, the Sarasota Polo Club, the 75-acre Premier Sports Campus, and three town centers that include theaters, shopping and dining. For more information, visit lakewoodranch.com.
