Tuesday, August 7, 2012
Neal Communities off to strong year
If the sales by Neal Communities are any indication, 2012 is shaping up to be a good year for home builders.
The prominent Manatee County developer continued its speedy pace of new home sales in July, spurred by strong buyer interest in the Central Park neighborhood of Lakewood Ranch and Woodbrook, Neal’s newest community in south Manatee County, the company said.
The 22 sales between those two communities accounted for slightly more than half of Neal’s total of 44 in July and helped push year-to-date sales up to 325, almost 36 percent above the first seven months of 2011.
Also this month, Neal sold four homes in the East Manatee community of River’s Reach, five sales in Belleisle in Lakewood Ranch Country Club East, and four in Lakewood Ranch Country Club. Forest Creek added four sales and Sawgrass chipped in with two purchases.
The recent sales activity has come even after Neal increased its new home prices four times in several different communities within the last 60 days.
“Summer is normally the slow season,” Pat Neal, president of Neal Communities (pictured), said in a statement. “Despite some price increases, our team continues to please buyers with our offerings. This month’s performance nearly matches our year to date monthly average of 46 sales. We’re very pleased and are looking forward to a strong second half with the introduction of new inventory in existing communities as well as community unveilings.”
Market conditions now bode well for new homebuilders seeking to increase supply.
Existing homes for sale in the region have held below the six-month inventory threshold for most of the year, which traditionally signals a shift to a sellers’ market.
The Sarasota Association of Realtors reported that the inventory of homes for sale dropped to 4.1 months supply in June, a new 10-year low.
And Neal is striking while the iron is hot.
Neal’s newest community in Venice, Grand Palm, is set to open in early fall. The recently purchased Boca Royale Golf & Country Club near Englewood also will open in 2013.
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Posted by Josh Salman at 10:14 AM