Lakewood Ranch Area (ZIP 34202) Residential Sales Market Summary 2018–2025
The Lakewood Ranch residential real estate market experienced substantial appreciation and evolving market conditions between 2018 and 2025, including a period of accelerated sales activity during the pandemic-era housing surge, followed by a more recent return toward more balanced market conditions.

Pricing Trends
In 2018, the average closed sale price was approximately $563,950.
The market reached peak average sale prices above $1.2 million in 2023–2025.
Although the pace of appreciation has moderated from the peak pandemic-era market, values remain substantially above pre-2020 levels.
Median pricing also increased significantly throughout the reporting period.

Year	Average Sale Price	
2018	$563,950	
2019	$589,873	
2020	$667,039	
2021	$810,529	
2022	$1,072,328	
2023	$1,235,677	
2024	$1,247,952	
2025	$1,199,636	

Price Per Square Foot
Average sale price per square foot increased substantially throughout the period reviewed.
The strongest pricing growth occurred during 2021–2023.
The 2025 average remains historically elevated compared to pre-pandemic benchmarks.

Year	Avg. SP/SF	
2018	$201.60	
2019	$209.88	

2020	$226.07	
2021	$283.15	
2022	$374.16	
2023	$412.91	
2024	$411.04	
2025	$384.23	

Average Days on Market (ADOM)
Marketing times declined sharply during the seller-driven market conditions of 2021–2022.
The market has gradually normalized since that period, with longer marketing times returning in 2024 and 2025.
Despite increasing days on market, current conditions remain healthier than many pre-pandemic benchmarks.

Year	Average ADOM	
2018	98	
2019	97	
2020	73	
2021	22	
2022	19	
2023	42	
2024	72	
2025	83	

Sales Activity
Transaction activity accelerated significantly during 2020 and 2021.
Sales volume moderated beginning in 2022 as interest rates increased and affordability pressures emerged.
Annual sales activity has stabilized at lower levels since the peak pandemic-era market.

Year	Closed Sales	
2018	675	

2019	704	
2020	862	
2021	852	
2022	627	
2023	581	
2024	555	
2025	554	

Overall Market Observation

Overall, the data reflects a market that experienced exceptional appreciation and historically low marketing times during the 2021–2022 period, followed by a gradual return toward more balanced conditions. Although transaction volume has moderated from peak activity levels, Lakewood Ranch continues to maintain property values substantially above pre-pandemic benchmarks, reflecting the area’s continued desirability, strong amenities, newer housing inventory, and sustained buyer demand.

Data Source: Stellar MLS. See attached supporting data. Summary includes AI-assisted narrative analysis.

Bernadette Caswell, Broker Associate Michael Saunders & Company
May 15, 2026