THURSDAY 26 AUGUST 2021 |
Neal Land & Neighborhoods, a community developer based in Manatee and Sarasota, announces 234 home sales, or more than 42% above the goal of 160 sales, in North River Ranch in the first six months of the year. year. North River Ranch, the developer’s flagship community, is in Parrish. All six North River Ranch home builders sold homes throughout the six-month period, including Centex, KB Home, Homes by WestBay, Park Square Homes, David Weekley Homes and Neal Communities.
Selling prices are on average $ 369,000, almost $ 40,000 less than other areas in Manatee County, according to the housing report of the Association of Realtors of Sarasota and Manatee June. “There is a very small window of opportunity at North River Ranch for potential buyers of a home under $ 400,000,” said John A Neal, president of Neal Land & Neighborhoods. “It’s typical to see steady price increases as a new host community moves through the construction process, and North River Ranch is no exception.”
Over the next few months, Neal Land & Neighborhoods will provide additional building land to existing builders for the final phase of the Brightwood neighborhood. Once the lots are delivered, house prices in Brightwood will range from $ 300 to over $ 800,000. “Interest in the remaining Brightwood lots is particularly high at this time, and although average prices are lower than what can be found in other parts of Manatee County, we are seeing an upward trend. “said Neal.
To date, nearly 140 homeowners are now calling the community home, and 80 more families are expected to move in before the end of the year. Most often, the owners of North River Ranch are young families and first-time home buyers. Many home buyers already live near North River Ranch, primarily Bradenton, Parrish, and Palmetto. “In addition to local buyers, we are starting to see an increase in St. Petersburg families becoming too small for rentals and Tampa buyers looking for new construction,” said Neal. “The strength of the housing market demonstrates the value of real estate investing, which drives new home sales among first-time buyers and senior buyers. We always balance the increased demand for housing with the challenges of the construction industry, which we and our homebuilding partners improve every day. “
A selection of quick move-in homes are expected to be listed in late summer / early fall this year in a variety of home sizes and price ranges. For more information on Neal Land & Neighborhoods, including the latest business development news, visit NealLand.com.
Photo courtesy of Neal Communities.