Market Snapshot: Lakewood Ranch Single Family Homes

If you've lived in Sarasota for any amount of time, you have surely heard the buzz about Lakewood Ranch. I am becoming more and more interested in this area for several reasons. The first is that the land is absolutely gorgeous. This masterplanned community has done a great job with conserving wide open spaces for everyone to enjoy. The second reason is that commercial development has finally caught up with residential sprawl. With the much anticipated opening of Main Street and the shopping center coming soon, finally all the residents of the Ranch will not have to drive far for high-end dining and retail. The numbers for the last year are solid:

September 2005
New Listings: 67 Sales: 32 Average Sale Price: $522,953 Average List Price: $682,364 Average Days on the Market: 72

March 2005
New Listings: 53 Sales: 48 Average Sale Price: $ 456,247 Average List Price: $ 701,029 Average Days on the Market: 76

September 2004
New Listings: 32 Sales: 26 Average Sale Price: $ 580,562 Average List Price: $610,553 Average Days on the Market: 116

Inventory is up just like everywhere else, but I do not see this as a problem. Its more of an opportunity. Great developments like the Country Club will continue to hold their value and appeal for many years to come, especially with the arrival of many other high end developments further east like the Concession and the Lake Club. For information on these areas, email me at drew@srqlife.com.