Stock Development Releases Year-to-Date Sales Report
10/19/2009

Stock Development strengthened its position as Southwest Florida's leading residential developer with a strong sales report for the first three quarters of 2009. From January 1 through September 30, Stock Development posted 193 new home sales at its communities of Lely Resort, the 2009 CBIA Community of the Year, Paseo, the 2009 BIA Community of the Year, and Vivante.

According to Brian Stock, CEO of Stock Development, the company’s sales volume totaled $70.4 million, boosted by a surge in sales totaling more than $10.5 million during the usually slow months of August and September. Lely Resort led the way with 117 new home sales.

"There has been a marked increase in sales and traffic recently and our average sales price has increased," said Stock. "In the first quarter of this year our average sale price remained steady from last year at $355,000. However, in August it increased to $364,000 and in September it jumped to $396,000."

Stock reported that the early October numbers indicate this trend continuing, with twice as many homes sold in the first ten days of the month as during all of October 2008.

"The sales offices are reporting an increase in out-of-town buyers, indicating that the word is getting out up north that new home inventories are dwindling and demand is up," said Stock. "We are hearing this from the Realtor community. Co-brokes account for 68 percent of our sales so Realtors continue to recognize the value of Stock communities."

Stock has had record numbers of visitors to their three sales centers with more than 6,200 people touring our three communities to date this year.

"One of the strengths has been the number of returning visitors. People who have seen our communities early on usually return after touring other communities," said Stock. "We noticed this trend in March and correctly projected our strong April and May sales. I believe we will see a lot of return visitors this season and they will be surprised by how much the new home market has changed."

Stock Development is building homes in three beautiful Southwest Florida communities.

"We have new construction under way in both Lely Resort and Paseo with additional homes in for permitting. Our construction division is planning for a busy season."
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