Real estate in Sarasota, Florida is turning from a sellers market to a buyers market. Property available has increased 300% in recent months, which makes it a definite buyers market, whereas just a year ago, the opposite was true. Even as recently as last spring, it was a sellers market, with demand far outweighing available homes.
For those considering a move to the sunshine state, now is the perfect time, while sellers are lowering their prices to make that sale.
Sarasota is a growing area. For this reason, there is still good appreciation on properties, even if there is more available now than in the previous few months. With snowbird season, this surge in available properties may not remain, however. Interest rates are also favorable currently, another great incentive for the buyer. So, the Sarasota market is attractive right now for family homebuyers, as well as investors.
Located on the Gulf Coast, itís not as busy as other portions of Florida. Some really love the hustle and bustle of the Atlantic coast, while others prefer the slower pace of the Gulf Coast. Attractions in Sarasota are plentiful, and the weather is temperate year around. Of course, this makes it a favorite for those wanting to leave the cold winters behind.
For those with a mind toward education, Sarasota is filled with great schools, both public schools as well as colleges and universities. Sarasota also boasts several charter schools, for those parents seeking different types of education, as well as several private schools.
Sarasota is the 7th largest market, so the outlook is excellent for those considering a relocation to this beautiful gulf coast community. It as also the 3rd fastest growing market in the state, which can only bring prosperity to the community, and make it a great place to both live and work.
The views in Sarasota are spectacular, as with other parts of the state. The beaches boast white sands, and clear waters for the water-sport minded. For those interested in the Arts, there is no shortage of cultural activities in Sarasota.
The hurricane seasons of the last two years havenít damaged the beauty and tranquility of this gulf coast real estate market at all. Sarasota has some of the oldest homes in the area, as well as some of the newest.
Median prices currently are around $338,200, up about 31 percent from the previous year, however, sales only were up approximately 2%. This means that homeowners are not selling as quickly, so owners are lowering their prices at this time. This certainly wasnít the case only a few short months ago.
Home prices increased statewide approximately 31%, while sales only rose 7% statewide.
It seems that the market is beginning to stabilize, and finding a new balance. Still, the apparent downward stroke may only be temporary; itís too early to tell. The only certainty currently is that it is definitely a buyers market in the Sarasota region. Florida continues to be one of the most popular relocation spots in the United States, and sales in Floridaís markets are still more lucrative here than elsewhere in the country.
Visit Sarasota, spend a week. Youíll see why so many choose to call this beautiful area home. There is always something to do, no matter your particular tastes in entertainment.