Avatar’s Central Florida Division posts 628 mid-year sales

August 10, 2006

The Central Florida Division of Avatar Properties Inc. posted 628 new home sales in the first six months for a volume of $224.5 million.

The Division, which is developing Poinciana, Solivita, Bellalago and the Isles of Bellalago, averaged 3.5 sales per day and 104.7 per month over the first six months.

Poinciana, ranked the second best selling master-planned community in the United States for the past two years, generated a total of 471 sales for Avatar for a volume of $149.3 million, an average of $316,985 per transaction.

Avatar’s 299 primary home sales in Poinciana produced a volume of $85.3 million for an average sale of $285,248, while Solivita, Avatar’s award-winning active-adult community in Poinciana, produced 172 sales for a volume of $64.0 million, an average of $372,093 per transaction.

Bellalago, Avatar’s upscale gated community alongside Lake Tohopekaliga, and the company’s neighboring Isles of Bellalago community, totaled 157 mid-year sales for a volume of $75.2 million, an average of $478,981 per transaction.

Avatar officials advised the company just introduced some new and more affordably priced single-family and multi-family product lines.

“We spent the first six months finalizing a new line of single family homes and two new lines of townhomes, all priced from the $200s, that will appeal to a broader spectrum of homebuyers,” said Bill Cowart, Avatar’s president of primary home building operations in Florida and Arizona. For the 2005 fiscal year Avatar’s Central Florida Division posted 1,352 sales.

Avatar’s primary homes in Poinciana, which encompasses 47,000 acres in northwest Osceola and northeast Polk counties, are currently priced from the mid-$200s, while homes in Solivita are presently priced from the upper $100s to upper $400s. Homes at Bellalago are currently priced from the $370s to $600s, and homes in the Isles of Bellalago are presently priced from the $290s.

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

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