Lakewood Ranch surged to 391 new home sales at an average price of $397,149 in 2011, more than double the encompassing Sarasota/Manatee average new home sales price of $150,097. At the same time, a total of 307 resales were reported in Lakewood Ranch. The long-awaited Lost Creek Resort rental community also opened during a busy 2011, as well as a variety of new commercial/institutional establishments.
According to the Moreira Team “Top 10 Turnaround Report,” based on Third Quarter 2011 data, the following six Florida markets are included as exhibiting the best positive year-over-year housing median price appreciation, inventory reductions and inventory age while also experiencing lower unemployment rates: Miami, Orlando, Fort Myers-Cape Coral, Fort Lauderdale, Sarasota-Bradenton, and Lakeland-Winter Haven.
Most of these same markets were featured just three years ago as having the worst impacts in the nation from the Great Recession. This report also notes that the number of foreign buyers purchasing homes in these markets increased from 10 percent in 2007 to 31 percent in 2011.