Neal Communities sold 109 homes in the 1st quarter of 2009

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Local Southwest Florida builder had its best first quarter in three years.

April 01, 2009

A local Southwest Florida builder is leading the way out of recession by turning the tide on real estate sales. Neal Communities has sold 109 homes in the first quarter of 2009, marking the best first quarter in the last three years. The company is experiencing a surge of new home sales that broke records for March with 42 sales on the books. In fact, there was a situation in the Mandalay community where three parties had offers on the same home on the same day.
Since opening in late February, there have been 43 sales in River Sound, Neal’s newest community. This announcement comes on the heels of news that last month pending sales in Sarasota rose to the highest level in three years.
The first quarter of this year beats the last few years by large margins. Here are comparative statistics:

Year 1st Quarter Sales Total Sales for Year
2009 109  109 year-to-date
2008 55 141
2007 28 118
2006 45 126

“One of the strongest signs of a surge in consumer confidence is the growing number of to-be-built homes,” explains Neal Communities’ Pat Neal. “We call it the “Neal Indicator”—when the ratio of to-be-builts vs. inventory rises, it indicates that buyers are positive about the future of the real estate market. This is what we see now. It’s also a plus for the local economy as more people secure jobs in construction and related industries.”
Indications from Realtors, prospects and associates in the industry show a positive outlook for April. “It is encouraging to see the market pick up the pace. While we are glad to see our sales continue to be strong, it’s important that both Sarasota and Manatee pick up as well. That’s what’s beginning to happen,” observes Neal Communities’ Pat Neal. “We’re convinced that by offering quality homes at attractive prices with excellent customer service, buyers will respond. It’s a strategy that works for us.”
“We are seeing qualified, motivated buyers coming to our models,” says Senior New Home Sales Representative, Deborah Angelo-O’Mara, MCSP. “I have buyers who are looking in the $1Million range, which shows a renewed optimism and confidence about the market. Plus, the number of visitors to the model homes continues to be strong.”
“Simply put, rational thinking is overcoming fear,” states Neal.
In addition to the strong sales in River Sound, Neal sold homes in The Country Club in Lakewood Ranch, in Stone Ridge, Thornhill and Edenmore; in Forest Creek, River’s Reach, Mandalay and Wisteria Park. Realtors represented about 40 percent of the buyers.
“We value our relationship with Realtors. They have been supportive and enthusiastic about showing their clients new home construction,” comments Realtor Liaison Gail Shane. “The Realtors are telling us that when they show their clients the numbers, they see the value of new construction and appreciate the home warranties and superior construction.”
The Sarasota Association of Realtors® reports that pending sales in the Sarasota market rose in February to 782, that’s the highest level since April 2006. Also, pending sales have now exceeded the 500 level for the 14th consecutive month, and the statistic bodes well for the next two or three months, when many of those pendings will close.
Neal Communities, established in 1970 in Southwest Florida, is a recognized leader in responsible land development and a pioneer in creating communities that preserve, protect and enhance the natural environment. The Neal sales team has a combined 377 years of professional real estate experience. As Southwest Florida’s largest and most established locally owned and operated private company, Neal Communities’ innovative home building, development and quality customer service standards all contribute to the firm’s continued, record-setting local success stories. With more than 7,000 homes built in Southwest Florida, Neal Communities’ honors and accolades include 41 Aurora Awards, dozens of Parade of Homes Awards, five Best in American Living Awards and hundreds of local and regional industry awards. For more information, visit nealcommunities.com

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