Developer and homebuilder WCI Communities reported net income of $10.2 million of revenues of $150.2 million in the quarter ending Sept. 30. It marks a jump of 229% compared the $3.1 million (on revenues of $89.7 million) for the same quarter last year. WCI sold 258 homes in the third quarter, an increase of 112 homes, or 77 percent, from QIII 2014. The average selling price per home sold during that quarter was $462,000, an increase of 8.2% over last year. As of Sept. 30, WCI’s backlog contract value was $301 million, up 19.1% from one year ago. Backlog units totaled 646 at the end of the third quarter, representing a 41% increase from the prior year.
“Throughout our coastal markets, demand for our award-winning homes and communities remains robust,” says Keith Bass, WCI’s president and CEO. “In addition, we continue to see positive demographic and economic indicators in Florida, which we believe will sustain the long-term growth of our housing markets.”
