Photo courtesy of Neal Communities.

Neal Land & Neighborhoods, a Manatee and Sarasota-based master-planned community developer, announces 234 home sales, more than 42% above the goal of 160 sales, at North River Ranch during the first six months of the year. North River Ranch, the developer’s flagship community, is in Parrish. All six home builders at North River Ranch sold homes throughout the six-month period, including Centex, KB Home, Homes by WestBay, Park Square Homes, David Weekley Homes and Neal Communities.

Sales prices average $369,000, nearly $40,000 lower than other Manatee County neighborhoods, according to the Realtor Association of Sarasota and Manatee June housing report. “There’s a very small window of opportunity at North River Ranch for prospective home buyers to purchase a home under $400,000,” said John A Neal, President of Neal Land & Neighborhoods. “It is typical to see regular price increases as a new home community progresses in the construction process, and North River Ranch is no exception.”

In the coming months, Neal Land & Neighborhoods will deliver additional homesites to the existing builders for the final phase of the Brightwood neighborhood. Once the lots are delivered, home prices in Brightwood will range from the $300s to over $800,000. “Interest in the remaining Brightwood lots is especially high right now, and while 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 now call the community home, with an additional 80 families expected to move in before the year’s end. Homeowners at North River Ranch are most commonly young families and first-time home buyers. Many home buyers already live near North River Ranch, predominantly coming from Bradenton, Parrish and Palmetto. “In addition to local buyers, we’re starting to see an upswing from St. Petersburg families that are outgrowing rentals and Tampa buyers looking for new construction,” said Neal. “The strong housing market demonstrates the value of real estate investment, which is driving new home sales among first-time and move-up buyers. We are still balancing the heightened demand for housing with construction industry challenges, which we and our home builder partners are improving each day.”

A selection of quick move-in homes is expected to list in late summer/early fall of this year in a variety of home sizes and price ranges. For more information on Neal Land & Neighborhoods, including the company’s latest development news, visit NealLand.com.

Photo courtesy of Neal Communities.