Slower Sarasota Real Estate Sales Provide An Opportunity
There has been a slight decrease in the level of real estate activity in the Sarasota Florida market for the past few months and this could present an opportunity for those wishing to invest in a home or condo in one of the most popular and welcoming cities in America. The local newspaper, the Herald Tribune, reported this week that, for the fourth time in the past five months, existing single-family homes and condos across Southwestern Florida sold at a slightly slower pace than in the same period in 2015.
While home, condominium and townhomes in the Sarasota Florida market sold at a slightly slower pace in early 2016, there was also an increase in the number of properties available for purchase. During February, for example, 1,359 properties (888 single-family homes and 471 condos & townhomes) were sold, a decrease of 4.8% from the volume in February, 2015.
At the end of February, there were 8,269 properties (5,540 single- family homes and 2,729 condos/townhomes) available for purchase, an increase of 8.9% over the level a year ago. Single-family home availability remained about constant at a 4.7 month supply, but, in a bit of good news for prospective condo buyers, there was a slight increase in the supply of condos and townhomes in both Sarasota and Manatee County. In Sarasota, condo supply rose from a 4.7 month supply in 2015 to 5.1 month supply this February. In Manatee County, the condo supply rose from a 5.1 month to a 5.4 month supply).
My observation is that the Sarasota real estate market remains very healthy but appears to be settling down a bit after two straight years of record sales volumes.
As a specialist in luxury homes and condominiums, I enjoy introducing people to the Sarasota area and the wide range of properties available in almost all price ranges. So, if you are still here enjoying the sun, the warm breezes and the pleasant lifestyle of Sarasota, or if you are planning to visit Sarasota soon, I would be delighted to show you luxury homes and condos that will meet, and may even surpass, your wishes and desires.
Luxury homes and condominiums are available in vibrant downtown Sarasota, out on our delightful barrier islands, and in fashionable country club communities. Let me help you make fulfill your dream of living in one of America’s most popular and welcoming mid-sized cities. Please call me at your convenience at 941.928.3424.