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Business Observer Friday, Jan. 11, 2013 7 years ago

Homebuilder notches $23M in 4Q

John Cannon Homes reports a dramatic increase in sales volume.

LAKEWOOD RANCH — John Cannon Homes surpassed $23 million in sales in the fourth quarter.

The east Manatee County-based firm, according to a release, says it sold 27 homes in the quarter for $23.3 million in sales volume, “a dramatic increase” over past quarters. Prices ranged from $400,000 to $2 million, the company says.

John Cannon Homes President and CEO John Cannon says he believes the fourth quarter momentum will carry into 2013. The firm builds in the Lake Club and Country Club East in Manatee County, in addition to several other communities from Sarasota to Tampa. It will also build custom homes on lots for clients in Charlotte, Hillsborough, Manatee, Pinellas and Sarasota counties.

“We saw interest in the custom-home market begin to pick up in early 2011 and continue on through 2012,” Cannon says in the release. “With used inventory at the lowest it's been in years our buyers looked to build new custom homes with all the amenities and features for today's lifestyle.”

The firm plans to add three more models to its portfolio in 2013. “Today's buyer realizes that prices are no longer declining,” says Cannon. “Now is the time to take advantage of today's pricing.”

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