We have had quite a unique start to 2020 across the globe. We’ve seen some unprecedented events. However, here in Southwest Florida, the real estate market is already showing very strong signs of thriving.
“It did not stop, but it dropped fairly dramatically,” David Clapp, President of the Realtor Association Of Sarasota & Manatee, explained to WWSB7 local news. One major factor that has helped boost the housing market in Sarasota has been the addition of virtual open houses. Virtual walk-thru’s and open houses may even become a gold standard in the near future—a luxury many Realtors and home-buyers on this coast have gladly relished. In addition to this virtual luxury, mortgage rates have remained low, helping buyers (especially first time buyers) with purchasing power. The confidence in buyers has been on the rise in the past couple of
weeks. Not only are buyers back in the market, but construction of new homes has also been seeing signs of rebounding. Experts are estimating that within six months we’ll see more and more building permits getting approved plus the market be sky-high. Out of state buyers are also flocking in droves continuing through the first half of 2020.
Compared to other parts of Florida this summer, Sarasota’s economy as a whole has been better than many parts of the state of Florida. Many other industries have shown signs of steady numbers despite current events within our country’s economy. This is all incredibly positive news for the state of Sarasota’ economy and positive outlook for the real estate market in Q3 and Q4 2020.
Southwest Florida is an incredible place to live—this much is certain. Yet, the vast rebounding of the real estate market is attracting even more people to the Sunshine State. If you’re considering a change of scenery in 2020, let Southwest Florida be your new home.