Sarasota - Bradenton #1 spot for Home Buyers
Posted by Andree Huffine on
In a recent article, Forbes Magazine reviewed a report issued by Trulia.com, an Internet search site frequently used by those searching for a new home. Nearly 90% of people who buy homes begin their searches on the Internet. As a result, Jed Kolko, chief economist and head of analytics at Trulia stated that, “where people are searching for properties is an indicator of which real estate markets are "picking up strength," and where home demand is growing.”
Of roughly 100 million home searches, the top 10 cities “picking up strength” are in the Sun Belt, and Florida dominates the list with 5 metropolitan areas in the top 10. The # 1 spot where real estate "is picking up strength" was the Sarasota - Bradenton - North Port area. The Sarasota – Bradenton –…
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The Sarasota Association of Realtors just released their October results. In it, they reported total home and condo sales for October of 577, essentially unchanged from the September volume of 570. This October total consisted of 412 single-family homes and 165 condos. Last year at this point, there were only 487 home and condo sales. This is more evidence that the slump in Sarasota and Manatee County home sales is coming to an end after 5 long years.Â
I know – just like so many people were convinced during the boom that housing prices would continue to appreciate at 30 – 40% a year forever, many are convinced that the downward trend will continue too. But take a look at the 40 years of history in these 2 graphs and I think logic will tell you otherwise. We can always look in the rear view mirror and say “that’s when I should have bought or sold an asset”. Savvy investors know the best way to time an asset sale or purchase is to look at trends.
Here's an interesting statistic, I found recently. There are 78 million baby boomers in the U.S., and demographic professionals predict that one-sixth of them will spend part of their lives in Florida. That's almost 13 million new residents in Florida by 2023. Those future residents will be looking for the most attractive places in Florida to live. The Sarasota - Manatee County area will be high on their list of "most attractive places".
I've heard it time and again this year from buyers I've worked with. “…we’ve been watching the market for a couple of years, afraid to jump in. This year, we saw that there was less available to choose from. We realized if we wanted to get a Sarasota area home we should do it now, before we can’t find one”…. Here's the most recent update from the Sarasota Association of Realtors, published July 12.
Not since 2005 have we seen the level of home buying activity in the Sarasota – Bradenton real estate market that we have today. A total of 759 properties were sold in April and 796 in May, the highest level in 6 years. Home and condo prices, while still at bargain levels, are also now at their highest level.
Once again, Sarasota draws top kudos. For the second year in a row, AmericanStyle Magazine ranked Sarasota 5th on it's list of the Top 25 Small Cities for Art. Bradenton ranked 10th. It's no wonder - Sarasota’s rich arts scene rivals some of the biggest urban centers in the country. Home to dozens of performing arts venues, opera, theater, and ballet companies, there is never a shortage of visual and performing arts entertainment. Check out the Sarasota Arts Scene on my website to learn more about Sarasota's Arts.
If you’re looking for an upscale and secure gated-entrance golf course community, Lakewood Ranch Country Club in Lakewood Ranch, Florida should be on your list of places to consider buying a home. Residents of the Country Club golf course community enjoy a luxurious, yet comfortable, lifestyle in a community of ten neighborhoods. There are single-family homes spanning a wide range of sizes with prices ranging from the low $300's to over $2 million. There are also condos and town homes available for those who are looking for a maintenance-free housing option.