Following several months of what seemed like a softening of demand from luxury buyers, the upturn in The Sarasota Real Estate Market since the start of 2023 has been tangible. Sellers are also beginning to ease back in resulting in growth in number of new listings.
Prices in the Sarasota Real Estate Market are still climbing at double-digit pace, although they have slowed to a more sustainable growth rate. I expect with our continued high demand, that sales will strengthen as we enter our peak selling season.
Though the Sarasota Real Estate Market has cooled, there is great potential to sell well located and move-in ready homes and condos, as well as properties in prized locations that are a perfect site for a custom home.
Inventory in all price points is still at historically low levels, and demand remains high. Prices in our region continue to grow at a healthy pace, leading me to believe that The Sarasota Real Estate Market will stay stable during the bumpy economic months ahead.
As The Sarasota Real Estate Market normalizes, meaning that supply and demand gaps are narrowing, our market foundation is strengthening and key fundamentals stabilizing.
Among the most desirable markets, Sarasota is still considered a “value pocket”. Our region offers an enviable lifestyle at a good price, and luxury tier buyers are drawn with the expectation they are making a good investment.
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