Discover your ideal lifestyle in Summerfield in Lakewood Ranch.
One of the original villages in Lakewood Ranch, Summerfield is located just south of State Road 70 off Lakewood Ranch Blvd. The Braden River runs along the southern border and connects to many lakes and two community parks that the residents enjoy. This is a family-oriented neighborhood with abundant recreational activities and community events. The winding streets are lined with mature trees that lead you to the five different Summerfield neighborhoods. Parents love the top-rated elementary and middle schools located with within walking distance of their homes.
The homes are single-family, with one maintenance-free community and one condominium complex. Only re-sales are available in this sold-out community from the high $100,000’s to the $400,000’s. The homes range in size from 1,300 to 2,500 square feet and were built from 1995 through 2002.
Market Activity – Summerfield in Lakewood Ranch
Of the 41 properties currently on the market, 35 are single-family homes and 6 are condominium residences. In the last 30 days, 7 single-family and one condominium have sold. There are 24 homes in the pending status right now! We are definitely seeing a lot of movement in the right direction for this desirable community.
Most recently, Elsa Roth’s REO listing on 12015 Winding Woods Way closed after just 21 days on the market. This property sold for $151,000, which was $6,100 over list price.
Why Choose Summerfield in Lakewood Ranch?
Buyers are drawn to Summerfield in Lakewood Ranch because everyone enjoys the sense of small town community that exists here. Lakewood Ranch is an award-winning, 8,500-acre master-planned community, and Summerfield residents take advantage of the shops, restaurants and movie theaters of Main Street in Lakewood Ranch. They use the business parks, hospital and medical center, and the golf courses. There are over 150 miles of sidewalks and trails, and the beautiful lakes, wetlands and nature preserves are abundant with wildlife. Summerfield in Lakewood Ranch is now more affordable than ever and you are within proximity to the culture of Sarasota and the best beaches in the world.
If you could position a glass dome over Lakewood Ranch—inclusive of such nearby neighborhoods as Greyhawk Landing and Heritage Harbour—you would have on exhibit a near-perfect microcosm of our region’s accelerating real estate recovery. For within this award-winning community and its many unique neighborhoods, buyers have scooped up the best-priced properties to such an extent that inventories of available homes have been pared down to levels that are at, near—or below—those typically considered normal in a balanced market. Moreover, they are confidently cherry-picking properties across all price ranges, so long as real value is at the core of every transaction.
As a matter of fact, based on the current pace of existing home sales in Lakewood Ranch—especially for properties priced below $150,000, below $300,000 or below $500,000—less than a four month supply is available for purchase in all three of these price ranges. Similarly, for homes priced from $500,000 to $1 million less than a six-month supply is available. Properties priced above $1 million have yet to re-establish a healthy balance—typically defined in the industry as a six to seven month supply, based on the rate of current sales. Yet with its supply now down to less than ten months, even the market for $1 million-plus homes in Lakewood Ranch is approaching equilibrium. Moreover, across all price ranges, less than a five month supply of properties is on hand. (Source: Trendgraphix, June 2010). Although it will be a very long time before sellers see prices rivaling those of 2004/2005, technically speaking Lakewood Ranch is on the threshold of becoming a sellers’ market again.
To pinpoint precisely how dramatically the Lakewood Ranch market has improved, one need only compare today’s level of inventory to that of two years ago when sales were painfully sluggish. Across all price ranges, the inventory has been drawn down from 958 properties in May 2008, to 341 properties in May 2010; a decline of over 64%. The number of properties priced below $500,000 has dropped by 61%; and those between $500,000 and $1 million by 71%. Even the inventory of properties priced above $1 million is down by 68%.
Find the perfect home for you in Riverwalk. Pictured: 10912 Bullrush Terrace.
Nestled in a gorgeous, natural setting perfect for hometown living, the Lakewood Ranch community of Riverwalk is comprised of four neighborhoods—Riverwalk Oaks, Riverwalk Meadow, Riverwalk Grove and Riverwalk Ridge. Homes in these communities range in price from the low $200’s to the high $400’s, and offer a variety of layouts and features to suit any taste.
Market Activity
Sales are brisk throughout Riverwalk, resulting in a decline in inventory. For example, a recent flurry of sales activity in Riverwalk Ridge, a small enclave of upscale homes priced under $500,000, indicates positive buyer response in the marketplace for homes in this price range and of this caliber in Lakewood Ranch.
Of the 80 home sites located in Riverwalk Ridge, three are currently under contract—all within only a matter of days on the market. Four properties have recently closed at prices within 96 percent of their asking price—another signal that buyers are jumping in the market quickly when they recognize true value. (more…)
Posted by Michael Saunders & Company on April 14, 2010
Lakewood Ranch is a premier planned community, conveniently located close to both Sarasota and Bradenton. It’s known regionally for carefully preserving and highlighting the natural beauty of the area’s unique geographic qualities including its many lakes, wooded areas, and wetland preserves that can be enjoyed by its residents through miles of nature trails and bike paths.
The Lake Club is an exclusive Lakewood Ranch neighborhood for those seeking the finer things in life. Greeted by its own private vineyards and sounds of water fountains, you are lead to an unprecedented lifestyle of luxury, privacy and exclusivity within this master-planned neighborhood. Meticulous attention has been developed within the 1,500 acres to exceed the highest standards for construction, energy efficiency and environmental responsibility.
Market Activity – The Lake Club
At this time, there are 33 homes built and seven are under construction. Homebuyers have taken notice of the charms presented by The Lake Club. There are currently 15 active listings. In the past 30 days, two homes have sold and two homes have gone under contract. When complete, The Lake Club will include approximately 1,000 homes, all of which enhanced by the community’s well-manicured grounds.
Why Buyers Choose The Lake Club
A magnificent 16,000-square-foot, $10 million grand clubhouse is the crowning jewel of The Lake Club and provides residents a resort lifestyle all year around. A gorgeous tapestry of parks and interweaving picturesque lakes create the overall landscape design, layered with a rich canvas of Italian cypress, Medjool date palms, live oaks, and floral components such as bougainvillea and rose bushes. This stunning landscape blends in uniquely with the community’s cobblestone streets, stonework fountains, magnificent bridges and custom estate homes, which capture the elegance of European Old World charm.
Many beautiful homes grace the Country Club at Lakewood Ranch. Pictured: 7045 Portmarnock Place.
November was quite a month for home sales in the over $1 million range in the gated areas of Lakewood Ranch—The Country Club and The Lake Club. Four sales closed during the month and another three homes went to contract, but have yet to close. Compare these results to just 15 sales during the previous ten months of 2009.
Agent Kudos – Helping Sell Lakewood Ranch
The improvement in sales in Lakewood Ranch is a clear result of long-awaited rational pricing in this category, which is more in evidence each day. One of the best examples is a home in the luxurious Portmarnock neighborhood listed by Barbara Najmy of our Lakewood Ranch office. Barbara, who has been associated with several transactions this year in this price range, clearly outlined the pricing realities of the market for her customer. She discussed the substantial costs associated with keeping a home of this nature on the market for prolonged periods and demonstrated the best ways to prepare a home for would-be buyers. The result: the home was placed under contract in 60 days and closed in just 80 days. What a difference when compared to the other three closings that averaged nearly three years on the market before sale!
The Bottom Line
Lakewood Ranch offers four different gated communities: The Country Club, Country Club East, The Lake Club and Edgewater. Each provides a unique lifestyle and different price categories. All are part of a community with a sense of place rather than simply a collection of developments. With 46 homes available in the over $1 million category and a return to sensible pricing, there are many opportunities for others to become a part of Lakewood Ranch. Just make sure you work with someone who understands the market.
Opportunities Abound - 6915 Westchester Circle - A grand Lakewood Ranch property listed by Mary Hellhake
The residential areas of East County differ widely, offering everything from charming single-family residences and exquisite golf course communities to grand, newly built estates and expansive equestrian acreage. Gloria Weed, branch manager of Michael Saunders & Company’s Lakewood Ranch office, finds that sales activity in East County has been brisk, with 291 homes pending, 189 homes sold and 312 new to the market in the last 30 days.
Lakewood Ranch Activity
The area’s most extraordinary master-planned community, Lakewood Ranch provides all the essential elements for a wonderful life. With beautiful homes, plentiful shops and places to play Lakewood Ranch has established a harmonious balance among the people and the surrounding natural environment. Its proximity to I-75 makes it the perfect location to reach other Florida destinations in any direction, with convenience to two international airports. (more…)
Turn-of-the-century bayside villages, quiet rural settings, country club communities, comfortable urban neighborhoods and secure retirement enclaves are all part of Bradenton and Manatee County. Bordering the Gulf of Mexico between Tampa and Sarasota, Manatee County has earned the reputation of being one of the friendliest communities in on the Gulf Coast, in addition to its diverse neighborhoods and Florida charm. The agents of our Bradenton office proudly serve the residential opportunities throughout Manatee County and beyond.
Manatee County Sales Reports
Pam Ali, branch manager of Michael Saunders & Company’s Bradenton office, is pleased to report significant activity in home sales throughout Manatee County. In the Multiple Listing Service (MLS) for Manatee County, there were 243 single-family homes that sold in the last 30 days. The average sales price was $230,488. (more…)
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