According to Brian Stock, CEO of Stock Development, homes in highly-amenitized communities are selling fast and the supply of new homes is limited. Stock Development is having a phenomenal sales year. Through May, the company netted 147 new home sales worth $210 million.
“At the beginning of the Covid-19 in mid-March, we saw customers pulling back but by the end of April things turned around and our homebuyers began moving up their closing dates and there was a surge in new sales,” said Stock. “Sales are terrific. In Naples, our sales at Isles of Collier Preserve are running an astonishing 83.3 percent higher than the same time in 2019 and at Fiddler’s Creek they are up 33.3 percent. In Sarasota County at Lakewood Ranch, sales are running 48.4 percent higher.”
According to Stock, the company’s May sales included eleven new build contracts, six inventory homes and four furnished modes.
“We are currently 10% over our goal, which is surprising due to the slowdown in April. This reflects the resiliency of the SW Florida market,” said Stock. “In May, we had 22 sales on a goal of 23 and we are carrying over 30 contracts for June. Our average price in May was $1.4 million with the 11 new builds not yet having options determined, so we could estimate another $3.3 million in revenue bringing us close to $30 million for the month of May. Frankly, that is astounding.”
Stock said there has been a dramatic increase in interest in Southwest Florida homes from across the country but especially from major cities.
“It first showed up in our website traffic and then potential homebuyers began contacting us directly,” said Stock. “The reasons that people want to buy a home from STOCK and live in Southwest Florida remain the same—the quality of the construction, the natural beauty, the beaches and the vibrant outdoor Southwest Florida lifestyle. Low mortgage rates and a desire to leave large cities or have a second home that is not in a major urban area appear to be pushing people to make the decision to buy a new home now.”
According to Lesley Deutch, a pricinpal at John Burns Real Estate Consulting, The Burns Housing Survey reported a 59% year-over-year increase in net sales in the state of Florida! Builders from Jacksonville to Naples are reporting the strongest sales rates of the year, driven by out-of-state buyers.
“Luxury buyers have returned and are willing to pay more for inventory homes so they can move immediately, including second-home buyers in places like Naples, said Deutch. “Forty percent of move-up builders in our May survey reported increased urgency, driven by a desire for households to improve their living environments after weeks of “stay at home.”
Stock’s sales centers and furnished models are open for viewing. Appointments remain the preferred option and The Stock family of companies is following all public health recommendations and working together as a company to keep everyone healthy.
Stock is encouraging homebuyers to visit its amazing website at www.stockdevelopment.com. It offers a wealth of information about each of their communities with floor plans, photo galleries and an expanded portfolio of virtual tours. Sales associates are available to help customers with their real estate search, guiding them through Stock’s website to narrow their choices. “Our website has been a vital central hub and is an amazing resource for homebuyers,” said Brian Stock, CEO of Stock Development “We are fortunate because we have always invested heavily in out website and online tools. This has paid off in our ability to communicate with new and existing customers alike.”
“All of our STOCK family of companies that help make the home buying process so effortless are open and ready to serve them,” said Stock. “Our construction divisions continue to work with relatively little disruption, and we’re practicing social distancing on all work sites. We have no supply issues at this time and are moving forward with all new home construction.”
Stock has more than 40 furnished models and 20 move-in ready homes open in the nine communities of Quail West, WildBlue, Naples Reserve, Isles of Collier Preserve, Fiddler’s Creek, TwinEagles, Estuary at Grey Oaks, Pine Ridge Estates and Babcock Ranch.
Stock’s homes are priced from the $400s to more than $7 million in plans ranging from 2,500 to 6,500 square feet under air. ¦
To see all that Stock has to offer, please visit the Stock Development website at www.stockdevelopment.com. Email at info@stockdevelopment.com or call (239) 592-7344.
