Homebuilder's sales surge 305%

LAKEWOOD RANCH — Neal Communities, one of the region's leading locally based homebuilders, sold 55 new homes in August, up 305% from August 2011, when it had 18 sales.

The 55 sales in August, normally part of a summer slow period, even bested the output of February, when there were 53 sales, according to a release. The Lakewood Ranch-based company, run by Pat Neal, the Business Review's 2012 Entrepreneur of the Year for Sarasota-Bradenton, also sold 61 homes in March — its biggest month in a decade. Sales are up 49% for the year, from 251 through August 2011 to 373 through August 2012.

“There are multiple forces working in our favor right now,” Neal says in the release. “First, historically low interest rates have more than offset some of the recent flattening of economic trends. Secondly, inventory of both new and existing homes is relatively low right now and third, we offer an array of housing types across the price spectrum in very desirable neighborhoods.”

Neal Communities builds and sells homes in several communities in Sarasota and Manatee counties. One of the firm's latest projects is Grand Palm, a community east of downtown Venice with space for nearly 2,000 homes. That community, with a grand opening scheduled for Sept. 8, is one of the biggest the company has ever built.

To read about a day in the life of Pat Neal click here.