During the first five months of 2008, average sales prices in Lakewood Ranch increased by 4.5 percent, and median sales prices held almost steady over the same period last year.

The average selling price of residential homes, as reported through the Sarasota Multiple Listing Service, rose from $582,975 in 2007 to $608,585 in 2008 in Lakewood Ranch.

Median selling prices held almost steady at $432,500 in 2007 compared with $442,500 in 2008. The standing inventory of listed single-family homes is 363, compared with 424 at the end of 2007.