LAKEWOOD RANCH — Homebuilder Neal Communities broke its all-time monthly sales record in August.
The company made 136 sales in August, up 71% year-over-year and surpassing its previous all-time monthly sales record of 124 sales in March 2019, according to a press release.
“The Federal Reserve, the credit markets and our government believe that we will have low interest rates for a long time,” says Pat Neal, founder and chairman of Neal Communities, in a statement. “This means that it’s a great time to buy assets, and even a better time to buy assets if you can do so by deductible interest rates lower than 3%. I think this is the beginning of another housing boom, and it’s a great time to buy a home.”
Neal Communities' market region stretches from Manatee to Collier county.
Neal Communities’ south region saw 28 sales in August, representing an almost 87% year-over-year increase from August 2019, the release states. Communities in the company's southern region include Windsong in Fort Myers and Richmond Park in North Naples.
The company also recently held a virtual grand opening of its newest private, gated community — Windward at Lakewood Ranch. The community has four collections of paired villas and single-family homes totaling 16 floorplans. Homes are priced from the high $200s.
Neal Communities is also on schedule to open its new Grand Park community in Sarasota in October. The community with a British West Indies theme will have single-family and twin villa-style homes.
“We’re seeing buyers making moves from more urban locations around the state and country in search of places with greater connections to the outdoors," says Carlos Puente, vice president of sales for Neal Communities, in a statement. "And millennials are also diving into homeownership, making purchases at spots like our Silverleaf, Canoe Creek and Grand Palm communities.”
Lakewood Ranch-based Neal Communities has built over 15,000 new homes in more than 90 communities from Tampa to Naples. Neal Communities brands also include Neal Signature Homes, Charlene Neal PureStyle, Waterscapes Pools & Spas, Neal Communities Funding and Allegiant Title Professionals. Neal Communities reported $412.5 million in gross revenue in 2019.