Sarasota luxury homes - market update
Posted by Andree Huffine on
This week’s Sarasota Herald Tribune had yet another interesting article about Sarasota’s active real estate market-"Luxury Home Sales up 42% in Manatee, Sarasota and Charlotte Counties" specifically focused on the Sarasota and surrounding area Luxury Homes.
Here are a few highlights from the article:
- In Sarasota, Manatee and Charlotte counties, September sales in the $1 million-plus market increased 42.1% in September over August, and they were up a stunning 170% from a year ago.
- Pending sales (contracts that have been signed but not yet closed) in the luxury market were up 8% in September over August, and 77% from a year ago
- Sarasota County saw the biggest spike in $1 million +Â sales, up 26.7% in September over August, and 280% from a year…
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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.
February 2011 real estate sales in the Sarasota area were up 24.2% from January and up 27% to 673 from February, 2010’s total of 528 sales.  There were 472 single family home and 201 condo closings reported by the Sarasota Association of Realtors reported for February.
Sarasota is definitely a "Florida golf town." If you’re looking for a Florida golf course community, Sarasota is the right place to look. You’ll find dozens of golf course communities and more than 80 public and private golf courses in the Sarasota, Bradenton and Venice area.
While the media devotes a lot of space and time to highlighting the negative aspects of today's real estate market, there are actually many unique opportunities that exist for savvy buyers in the Sarasota market. This may be your once-in-a-lifetime chance to purchase a first or second luxury home at prices we haven't seen in many years.Â