October marked the first month of the year in the Sarasota Real Estate Market in which most of the data reflected a moderation in activity. There were still plenty of areas to celebrate the region’s continued growth, so as our peak selling season gets underway, I believe the market is well positioned for improved sales, prices and more balanced inventory conditions.
Sarasota was #3 globally in the ranking of “Hottest” markets for second homes. Those of us fortunate enough to have practices serving the ultra-wealthy seeking properties in the Sarasota Luxury market know the many factors that this unique group weighs when choosing a primary or second residence. This report from Christie’s offers excellent insight into this high-value market.
The Sarasota Real Estate Market had a strong spring selling season, with especially impressive activity in the luxury tier. Nearly 7% of all area sales were above the $1 million mark. With a good pace of pending sales underway, we anticipate steady growth into the summer months.
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