The Sarasota Real Estate Market ended 2019 on a high note with sales transactions exceeding last December by nearly 52% and total dollar volume increasing almost 63% over prior year.
A completely renovated top-floor Gulf front condominium at Inn on the Beach at the Resort at Longboat Key Club has sold to my clients for $1,400,000. The 10th floor “penthouse” has extraordinary panoramic views of the beach with unparalleled and unobstructed sunset views over the Gulf.
The Sarasota Real Estate Market’s November data showed total sales and dollar volume exceeding prior year by 6% and 10.5% respectively, transactions in the luxury tier up by more than 40%, prices remaining stable, and growth in pending sales…all signs are pointing to closing out the year with solid gains across the board.
The Sarasota Real Estate Market outpaced both national and state sales again last month – transactions expanded well into double digits in both existing single-family homes and condominiums, strong growth in the luxury market, and moderate price appreciation was driven by falling inventory.
Congratulations to my buying clients for their purchase of this gorgeous South Longboat Key waterfront luxury residence with expansive terraces and stunning views. Purchased for $1,000,000
Congratulations to my selling clients! Situated at the tip of spectacular Golden Gate Point directly on the Sarasota Bayfront, this stunningly and completely renovated residence has been sold for $745,000!
The September Sarasota Real Estate Market once again bested Florida and National sales by a considerable margin. Sales of existing homes and condominiums exceeded last year’s transactions by almost 25%. Prices in the Sarasota Real Estate Market continue to grow, though at a moderate and sustainable pace. Pending sales increased by 12.5% setting a nice pace for closings in the months ahead.
August sales of existing homes and condominiums in the Sarasota Real Estate Market were considerably higher than the same month last year. And strong pending contracts activity sets up healthy sales pace for 30-60 days ahead.
The Sarasota Real Estate Market has been inching toward a buyer’s market, but conditions are currently neither strongly favoring either buyer’s or seller’s sides. With low interest rates, strong consumer confidence, steady flow of traffic from “tax-refugee” buyers, increased inventory and active new construction, conditions are favorable for The Sarasota Real Estate Market.
I remain bullish on the Sarasota Real Estate Market. With the flow of “tax refugee” relocations expected to continue, excellent economic conditions – including the longest stretch of mortgage rates below 5% in more than 60 years, as well as significant strength in our condominium and home building regionally, there is plenty of supporting evidence that our market balance and steady conditions suggest a sustainable environment.
Copyright © 2020 Michael Moulton
