is a one-of-a-kind master-planned community located northeast of Sarasota. Encompassing over 31,000 acres and 24 unique villages, homebuyers from across the country want to get their hands on a piece of highly desirable Lakewood Ranch real estate. This vibrant neighborhood boasts some of the best accommodations in the area, with a dynamic selection of shops and restaurants, top-rated schools, and acres of pristine outdoor space. Everything residents need to live a life of leisure can be found in Lakewood Ranch. Beautiful modern architecture, exquisite landscaping, and an endless list of amenities and exploration spots put Lakewood Ranch on the list as one of Florida’s most highly sought-after communities.
If you’re interested, read on for a discussion of the housing market and what to expect.
Lakewood Ranch real estate
Buying a high-end home in a luxury neighborhood like Lakewood Ranch is a considerable commitment. However, understanding more about the local housing market can help homebuyers and investors go into their purchase with confidence.
Even if your heart is already set on buying a home in Lakewood Ranch, having a sound understanding of the current housing market can give you an upper hand in securing the right residence at the best price. Before getting serious about your purchase, learn more about what experts are predicting for the Lakewood Ranch real estate market in the rest of 2023.
Lakewood Ranch housing market forecast 2023
Housing market forecasts cover key indicators that can be used to assess the strength of the local real estate market. Whether you are looking to buy or sell a home, having a solid understanding of the local market and its predictions can give you a clearer picture of what to expect in the coming months. This way, you can pivot your strategy to meet the needs of the current market trends.
Home values increasing
Lakewood Ranch’s first master-planned village was completed in 1995, and since then, homebuyers have been flocking to the area, driving up the home prices. By 2012, this highly desirable community saw a sharp increase in demand. Market trends do not see a slowdown for home values in Lakewood Ranch
any time soon and predict an astounding level of growth over the next five years. For homebuyers, this means a home in Lakewood Ranch will likely be a sound investment for years to come.
Manatee County real estate landscape
According to the latest data from the Realtor® Association of Sarasota and Manatee
, the median sale price for single-family homes throughout Manatee County is currently $515,000, which is just a 1.2% decrease compared year-over-year. Single-family homes are spending 29 days to contract and 84 days to sell, both of which have increased from the year prior. The months’ supply of inventory has risen slightly, from 2.5 months in July 2022 to 2.7 months in July 2023. In addition, closed sales are up by 10.1% year-over-year.
It’s important to note that Lakewood Ranch real estate prices tend to be higher than Manatee County as a whole, with the median price currently sitting at around $620,000
and rising year-over-year.
Trends in interest rates
After peaking in July of this year, experts are predicting a slight decrease in interest rates for the next several months across the nation. However, as of late August 2023, interest rates have been slightly on the rise
again. This has continued to leave many buyers across the country waiting on the sidelines for more desirable interest rates.
Positive net population migration
Complete with many parks, eateries, shops, and excellent schools, Lakewood Ranch is more than just a neighborhood. Since opening its first village, the community has grown substantially in size and now contains over 24 one-of-a-kind alcoves. Because of its high desirability and increasing size, Lakewood Ranch sees significant population growth each year, with its residents increasing
by 6.5 percent between 2020 and 2022. For sellers, this means more interest in their listings, while buyers will likely have more competition to purchase a home.
Lakewood Ranch real estate options
In general, buyers looking at homes for sale in Lakewood Ranch
can expect to find an array of gorgeous residences. Lakewood Ranch is home to over 24 distinct communities that come with their own set of housing styles and amenities. While some villages are more affordable, others offer homebuyers the chance to purchase ultra-luxury real estate.
For instance, in the small neighborhood of Avalon Woods, a single-family home
can be bought for just $400,000. However, located along the banks of Kingfisher Lake is Kingfisher Estates, where some of Lakewood Ranch’s most prized luxury real estate resides. Those looking to purchase a stunning single-family home in Kingfisher Estates
will have to be willing to pay within the realm of $3 million. As you can see, Lakewood Ranch real estate holds plenty of promise, no matter your budget.
The Lakewood Ranch real estate market: Should you invest?
Buying a home in Lakewood Ranch is a sound investment in the coming years. Rising real estate values in the area and a steadily increasing population mean sellers will likely reap a substantial return on investment on their Lakewood Ranch home. Since its first opening in the 1990s, Lakewood Ranch real estate has promised a premier investment opportunity with rising home values and robust interest among buyers.
Buyers with their sights set on one of Lakewood Ranch’s premier communities should consider buying in the next few months. The steady price increases over the past years are unlikely to slow down any time soon, meaning that now is the time to buy a property at a reasonable price. Alongside predicted decreases in interest rates for the coming months, market conditions appear favorable for home buyers until the end of the year.
Buy a home in Lakewood Ranch with the help of The Argelia Vidal Team
If you are seeking a beautiful home in Lakewood Ranch
, get in touch with The Argelia Vidal Team
. These top-rated agents have years of experience helping buyers and sellers in the Lakewood Ranch area. With them by your side, you can rest assured that all your real estate endeavors are in good hands.*Header photo courtesy of Shutterstock