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Defining The Next Evolution of Luxury

Posted by Judie Berger on Wednesday, June 28, 2023 at 2:10:06 PM By Judie Berger / June 28, 2023 Comment

As we look ahead to the remainder of 2023, the Siesta Key real estate market is expected to continue evolving. Here are some market predictions to keep in mind for the rest of the year:
 
• Steady demand for luxury properties: With the ongoing appeal of Siesta Key’s idyllic coastal lifestyle, we anticipate sustained interest in luxury properties, particularly in the most desirable locations, in new or like-new condition.
 
• Condo market growth: The significant increase in the average sales price of condos this year suggests a strong appetite for luxury condominiums. We expect the luxury condo market to continue to flourish, driven by buyers seeking a low-maintenance, upscale lifestyle with exclusive amenities.
 
• Inventory constraints: As land availability remains limited, and with fewer homes for sale since 2019, the market may face ongoing inventory constraints. This scarcity could lead to further increases in property values, making it increasingly important for potential buyers and investors to act swiftly when opportunities arise.
 
• Shift toward a balanced market: With the broader Sarasota-Manatee County market experiencing varying levels of supply, we could see a gradual shift toward a more balanced market in some segments, providing more opportunities for buyers. Sellers will be successful when priced at today’s market.
 
As we downshift from our busy tourist season, the Siesta Key real estate market continues to show strength while giving way to more balance. We expect the market to remain competitive for the remainder of 2023, especially in the luxury segment. So, while there is a softening in the market, pricing remains strong and buyers remain active. To ensure you’re well-positioned to make the most of these opportunities, consult with Judie Berger, your trusted luxury Realtor®, for personalized guidance and expertise.
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SUCCESS STORIES

“We truly enjoyed working with Judie in selling our house. She is exceptional! Judie goes above and beyond in every way for her clients. She was always available and so helpful in every possible detail. We would never use anyone but Judie for our real estate needs.”    - Ed & Christy Ramsey

“Judie Berger is a true professional. She has extensive knowledge of the business and works tirelessly to get the job done. She has an excellent team working with her, is extremely detail-oriented and will be with you every step of the way. ”    - Peter & Connie Dumas

THINKING OF SELLING?

If you’re considering a move and would like to discuss detailed information about market trends in your neighborhood or consult with the Siesta Key expert on how to successfully sell your home, please contact me for a confidential consultation at [email protected] or 941.928.3424. 

Would you like to know your home's estimated value? Our complimentary market analysis provides you with your property's current market value and suggested selling price! Just fill out the form below, and we'll analyze the comparables, local trends and other local market data to provide you with an up-to-date and accurate estimate of the worth of your home or condo.

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Tags: selling a home, Siesta Key Luxury Real Estate, Siesta Key Real Estate, Luxury Real Estate, home valuation

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