Sarasota! Our Next Door Neighbor!
The city of Sarasota is considered as one of the nations best cities to live, work, invest and raise a family.
The area's reputation for having clean air, world-renowned beaches and sunny climates have made it renowned as a complete recreation, sports, housing, arts and cultural center. The city has a large array of amenities and perks which rival larger urban areas, but still retains a cozy, small town feel as well as a comfortable living standard.
Investors, tourists, business owners and employees are not only living the good life, they also feel upbeat about the thriving business climate. The city's good-quality schools, excellent workforce and affordable livings costs make Sarasota home to some of the most productive and thriving corporations in the country.
Sarasota-Bradenton Is A Bright Spot In A Bleak Real Estate Market
While national sales of single-family homes fell 13 percent and statewide sales dropped by an even larger 28 percent, Sarasota-Bradenton saw a 16 percent increase last month as compared with last year's levels. Panama City was the only other Florida market to increase. The Sarasota gains raised the much-invited prospect that at least a part of Southwest Florida might be shaking off the hangover brought on by back-to-back years of a surging real estate market.
"There's no such thing as a national market," notes Joe Hembree,of the Sarasota Association of Realtors. "Most of the U.S. had terrible weather this winter -- especially the Northeast and Midwest. You don't look for a new home in the middle of a snow storm." Sarasota-Bradenton, which posted 834 home sales compared with 721 a year ago, was different because the weather was great, Hembree said. The sun was shining and the local market turned the corner.
The sun also was shining in the Charlotte County-North Port market, but it did not make much of a difference there. Sales of single-family homes fell 25 percent from 315 in March 2006 to 237 last month. Prices in that market also took a pounding, slumping 14 percent to $193,000 and well below the $200,000 price point on which the area had been teetering. Sarasota-Bradenton posted a pricing decline -- 9 percent -- to $291,500, though the area's median has been trending up when compared with the last several months.
The Sarasota Housing Market Is Still Surging
While the US housing and credit markets are reeling form a major slump, real estate market conditions in Sarasota have no doubt fared fairly well as compared to last year. Many housing and condominium purchases are taking place and the number of condominiums and homes for sale in Sarasota has gone down, which means there is no shortage of quick buyers. This positive trend of improving fortunes is truly clear in the Longboat Key condo and Siesta Key condo markets.
At present, the number of condos for sale on Siesta Key went down by more than 10% to 545 at the end of July from a peak of 620 during February. Condos for sale in Longboat Key declined over 16% to 420 from the March high of 503. One reason why housing is so good is the popularity of the area.
"Sarasota was named 'The Best Small City to Live In' by CNN/Money, and more recently as home to 'The Best Sand Beaches in America.' According to the National Association of Realtors, Sarasota, FL had the 'Second Fastest Medium Home Appreciation in 2003.'"
Many property developers and housing analysts still view Sarasota and its adjoining communities as a promising property sector, where the demand for real estate remains fairly high. The city's weather is generally considered more attractive than almost anywhere else in the country, especially for those who have a lot of leisure time to fill. In addition, Sarasota, along with nearby Manatee and Charlotte Counties own the distinction of having the 7th largest market in Florida.
Marc Alan Innes & Associates LLC
Luxury Acquisition and Development
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