Spending rises in Sarasota, FL… What are people buying?
The wealthy are back, and they’re spending money in Sarasota, Florida. What are they buying? Private planes, luxury boats, and yes, high-end homes for sale. It’s a sure sign that consumer confidence is back in Sarasota among those consumers who drive the markets.
Fast cars. According to the Sarasota Herald-Tribune, last year Sarasota’s Suncoast Motorsports, a Porsche-Audi-Volkswagen dealership, sold 237 new Porsches, an 8% increase over 2010. Suncoast Motorsports may even crack the Top 25 among Porsche dealers this year; their goal is to sell 310 this year, many priced at $100,000 or more.
Luxury boats. Luxury boat sales in Sarasota and Manatee counties increased almost 6% in 2011, to $232 million, according to Revenue Department data. In December 2011 alone (the most recent month for which data is available), boat sales rose by a whopping 56% percent. Aircraft dealers in the region doubled their sales in 2011 compared to 2010, according to the Florida Department of Revenue.
Mansions for Sale. Nowhere, however, is resurgent spending more apparent than in residential real estate. New mansions and homes selling for $1 million or more are trading briskly again in Sarasota, and record-setting prices are back. In early March, for example, a famous 7,600-square-foot home on exclusive Casey Key sold for $4.1 million. Casa del Mar is a home with a rich history and it’s own Wikipedia entry. The five-bedroom, eight-bathroom residence — with a home theater and spectacular views of the water — represented the highest-priced real estate transaction on the key in almost a year. The Canadian home buyer will be using the home as a second-home vacation retreat.
From breathtaking downtown high-rise condos to remarkable waterfront mansions, Sarasota real estate provides a wide variety of desirable choices in high-end homes for sale. If you’re seeking a pleasant year-round climate, quiet beautiful beaches near a thriving downtown, and plenty of shopping, dining, recreational, and cultural opportunities, look no farther than Sarasota, and make sure that you have one of our Exclusive Buyers Agents on your side.
At True Sarasota Real Estate we focus exclusively on buyers and investors; locating the ideal properties for sale, and ensuring a smooth and successful home buying experience. Among many certifications and designations, William True holds a CLHMS (Certified Luxury Home Marketing Specialist) designation, representing proven experience as well as specialized knowledge of the luxury real estate market. We know and love Sarasota. Not only can we be your Sarasota tour guide, we can also guide you through every stage of the homebuying process. We’re ready when you are.