Strong sales put Florida master-planned communities in top ranks in nation

Several local master-planned communities posted strong sales so far in 2023, according to the mid-year report from a real estate consulting firm that has tracked the fastest growing communities in the country for nearly three decades.

Lakewood Ranch remained the fastest selling multigenerational master-planned community in the United States, posting 1,227 sales through the first six months, according to national real estate consulting firm RCLCO.

This marks the fifth year in a row that Lakewood Ranch has been the best selling community for "all ages," according to a Lakewood Ranch news release about the RCLCO rankings.

However, The Villages, a central Florida active adult community that is age restricted, likely did record more sales than Lakewood Ranch, based on an estimate from RCLCO.

The Villages developer did not provide 2023 data, but the massive development has repeatedly posted chart-topping figures, often doubling the totals of its nearest competitors.

The Villages is estimated to have sold 1,960 sales so far in 2023.

The Villages and Lakewood Ranch were the only two master-planned communities to post more than 1,000 sales so far this year.

Punta Gorda's Babcock Ranch, developed by Kitson and Partners, and south Sarasota County's Wellen Park, developed by Wellen Park LLLP, were the two other local master-planned communities among the fastest selling communities in the country.

Lakewood Ranch sales up

Lakewood Ranch's sales were up 20% compared to the 1,026 sales the Manatee and Sarasota development posted at the mid-point last year. Lakewood Ranch is developed by Schroeder-Manatee Ranch, Inc.

Babcock Ranch ranked eighth in the country with 490 sales so far this year. The mid-year sales figure is 16% higher than the 420 sales reported at this point last year.

Wellen Park reported sales up 25% compared with 2022's figures with 430 through mid-2023. That total ranked 13th on the national list.

While the Houston metro area posted the most communities in the top 50 rankings, Florida still represented 42% of the overall sales among ranked communities. Texas master-planned communities accounted for 38% of the sales.

Overall, the 50 fastest selling master-planned communities in the country reported 19,531 home sales in 2023, up 7% from a year ago.

The RCLCO report notes that buyers appear to be navigating higher interest rates by seeking incentives from builders to help with closing costs. The report said that about 60% of builders were providing incentives to buyers.

Laura Cole, senior vice president at Lakewood Ranch, attributed some of the strong sales numbers to Lakewood Ranch launching several new villages in the 33,000-acre community.

“Post pandemic, we continue to see buyers attracted to Lakewood Ranch because of our lifestyle, multi-generational appeal, and diversity of neighborhoods,” Cole said. "In 2023 we introduced three new entry-level villages and two new luxury villages to round-out our segmentation. This provided a boost to sales."

Real estate coverage: Higher interest rates not hampering Lakewood Ranch sales as new development sells quickly

More: Report: Four Florida markets named as 'at risk for home price decline'

This article originally appeared on Sarasota Herald-Tribune: Lakewood Ranch, Wellen Park, Babcock Ranch post strong mid-year sales