Market Update: If you have to cocoon somewhere, why not beautiful Siesta Key?
It was expected that home sales on Siesta Key would slow due to COVID-19; however, 3rd quarter numbers are the strongest in recent history, despite the pandemic. Year-over-year total average sales increased, pending sales rose, and inventory levels decreased by 27%. The most significant increase was in the $2-$4 million range. In the last decade, this is the best time to sell your home!
Condo sales on Siesta Key continue to remain strong despite COVID-19, with significant pent-up buyer demand. Expect the coming season to be even more active, with both sales and average prices increasing. As we move through the year, the pandemic's ongoing impact on the overall economy and the presidential election could mitigate price appreciation and sales activity.