Lakewood Ranch, West Villages among top sellers nationwide

Two of Southwest Florida’s master-planned communities have again ranked among the top sellers across the country.

Lakewood Ranch claimed second place for sales in 2019 for the second straight year, while the West Villages moved up one spot to fourth in a newly released report by real estate consultant RCLCO.

Lakewood Ranch, which spans across the border of Sarasota and Manatee counties, posted an annualized 1,648 new home sales last year, an 11% increase from the 1,482 reported in 2018.

That 31,000-acre community with 38,000 residents ranked third in sales nationally in 2017.

West Villages, in south Sarasota County, closed 1,273 new home sales in 2019, a 15% gain from the 1,108 the previous year.

West Villages is being developed by Mattamy Homes, the largest privately owned home builder in North America, which recently bought out partner Vanguard Land of Sarasota.

Lakewood Ranch also tied for second place by finishing in RCLCO’s “top 10” list nine times in the past decade.

Favorable market conditions have contributed to Lakewood Ranch’s success, said Laura Cole, senior vice president of LWR Communities. Factors such as low interest rates, the booming stock market and an overall strong economy have bolstered buyers’ confidence, she said.

Buyers came from throughout Florida, as well as from high tax markets in the Northeast and mid-Atlantic, such as New York, New Jersey, Boston and Maryland, she said, as well as in increasing numbers from Georgia and California.

“The community was prepared to meet increased demand from the millennial buyer while still accommodating move-up families, empty-nesters, retirees and seniors,” Cole said. “Our strength lies in the diversity of our neighborhoods, abundance of shopping, dining and services, job base and exceptional lifestyle offerings. It is not unusual to see one sale turn into two, three, and even four sales as families and friends quickly follow the initial purchaser.”

West Villages is planned for about 22,000 homes and 3 million square feet of commercial space. It is also home to CoolToday Park, the new spring training facility of the Atlanta Braves.

In an earlier third-quarter report, Lakewood Ranch ranked first and West Villages seventh for annualized home starts.

Florida dominated the “Top 50” list, with four communities in the top six.

For 2019, The Villages in central Florida was the leader with 2,134 in estimated sales, the same as the previous year. Nocatee in Ponte Vedra finished sixth with 928 sales, down 1%.

“Master-planned communities that have consistently achieved the highest sales credit their market segmentation strategies — the targeting of various age, income and household segments with appropriately priced and designed residential product types and lifestyle amenities,” RCLCO’s report stated.