Third-quarter sales strong for Stock Development

COURTESY PHOTO Paseo Village Center. Continuing a strong year of new home sales, Stock Development has issued a stronger than expected third-quarter sales report.

According to Brian Stock, CEO of Stock Development, the company signed 46 new home contracts at Paseo, Lely Resort and Vivanté with a total dollar value of $18.8 million. This brings Stock's new home sales for the year to 323 homes worth $118 million.

"The third quarter is traditionally the slowest quarter of the sales year, yet we averaged one new home contract every two days and our average sale price increased to over $400,000, while the rest of the home market saw sale prices decrease," said Stock.

Claudine Léger-Wetzel, vice president of sales and marketing for Stock, said the opening of new lifestyle amenities and new neighborhoods in March and April strengthened sales beginning late in the first half, noting that since May 1 Stock has sold 116 new homes.

"With the opening of the Village Centers at Olé at Lely Resort and Paseo in South Fort Myers, as well as new neighborhoods in both communities, there has been terrific excitement," said Léger-Wetzel. "We have been pleased to see so many permanent residents and families buying homes at our communities throughout the year."

The strong sales mean that Stock has already begun construction on new model centers at both Paseo and Olé. The company anticipates a strong 2009 and has begun construction on more than 30 new furnished models as well as numerous spec homes in its respective communities.

"The Village Centers at both Paseo and the Olé neighborhood in Lely Resort are open and receiving even more use from residents than we projected in the first several months," said Léger-Wetzel. "They are proving very popular and helping to generate additional sales. As a result we are one of the few developers planning new construction and adding new neighborhoods."

Lely Resort is a private Naples country club community with prices from the mid-$200s and Paseo is a resort-style community located in South Fort Myers with prices starting from the low-$200s. Stock Development is also marketing Vivanté, a community of waterfront condominiums located at the tip of Punta Gorda Isles adjacent to Charlotte Harbor.

The company's portfolio of communities includes: Lely Resort and Olde Cypress in Naples, Grandézza in Estero, Paseo in Fort Myers and Vivanté at Punta Gorda. The Stock Family of Companies also includes Stock Construction, Noble Title & Trust, Stock Realty, Stock Financial, Pizzazz Interiors and Serenity Pool & Spa.

For more information on Stock Development, visit www.StockDevemopment. com or call (239) 592-7344. The firm's headquarters are located at 2647 Professional Circle, Suite 1201 in Naples.