Avatar’s Central Florida Division finishes 2005 with 1,352 home sales

March 05, 2006

The Central Florida Division of Avatar Properties Inc. posted 306 new home sales for $112.9 million in the fourth quarter to finish 2005 with 1,352 sales for $416 million.

The Division’s communities of Poinciana, Solivita, Bellalago and the Isles of Bellalago collectively averaged 3.7 sales per day and 112.7 sales per month for the year.

For 2005 Avatar recorded a total of 1,118 sales for $307.8 million in Poinciana, ranked among the best selling master-planned communities in the United States.

Avatar’s primary housing in Poinciana, a 47,000-acre master-planned community in northwest Osceola and northeast Polk counties, accounted for 407 sales last year for $98.1 million, an average of $241,032 per transaction. Primary housing accounted for 110 fourth quarter sales for $29.9 million, an average of $271,818 per transaction.

Solivita, Avatar’s award-winning active adult community on the Polk County side of Poinciana, led the way with 711 sales for $209.6 million last year, an average of $294,796 per transaction. Solivita posted 91 fourth quarter sales for $32.2 million, an average of $353,846 per sale.

Bellalago, Avatar’s upscale gated community alongside Lake Tohopekaliga and the 2004 Excel Award winner as the Best Master-Planned Community in Florida, totaled 234 sales for $108.2 million last year, an average of $462,393 per transaction. Bellalago posted 105 fourth quarter sales for $50.8 million, an average of $483,810 per sale.

Avatar’s primary homes in Poinciana are currently priced from the $200s, while homes in Solivita are presently priced from the high $100s to high $400s. Homes at Bellalago are currently priced from the $370s to $600s and homes in the Isles of Bellalago are priced from the $280s.

For more information, contact Bill Cowart, president of Avatar’s primary homebuilding operations, at (800) 755-0545 or (407) 933-5000.

###