Sarasota Real Estate markets rise in 2011.
Many people already know that one of the best places to live anywhere is Sarasota, Florida. But they may not know that in the four years since the economic downturn of 2008, the housing market in Sarasota has improved dramatically. Real estate sales in Sarasota rose by 8.2% in 2011. Figures for the year also represent an astonishing 44% increase over the low point of the 2008 market downturn. The trend became apparent at the end of 2011, as the Sarasota real estate market in December jumped 7.3% over the November figure, and a similar rise was seen in November versus October’s figures. Home buyers from outside the area are now finding Sarasota– always an attractive location — even more desirable. These “outsiders” see strong buying prospects, and they are taking advantage of those opportunities. Median sale prices in Sarasota stabilized in 2011 and currently stand in the $155,000 to $156,000 range for single-family homes, with condominiums averaging only slightly higher.
Why is Sarasota Florida the best area to purchase real estate in 2012?
” The beaches, culture and people make Sarasota one of the top places to live worldwide and the smart money is getting in the game now.” , says William True, owner of True Sarasota Real Estate. Sarasota, of course, can boast of splendid housing market conditions for a variety of good reasons. Warm weather, clean white beaches, and a lengthy list of extraordinary recreational and cultural opportunities have for many years made Sarasota one of the nation’s top relocation and retirement destinations. Combined with current market conditions — affordable pricing and a wide variety of the highest-quality homes and condominiums for sale anywhere — it would be difficult to find a more desirable location. And at the moment, market conditions are balanced almost precisely between a buyer’s market and a seller’s market. While the recently surging sales have meant a slight dip in the inventory level, thousands of high-quality housing properties remain available on the Sarasota market.
These are not the only factors that point to an improving housing market in Sarasota. While fourth-quarter figures for 2011 are not yet available, there’s every indication that positive third-quarter trends have continued. According to Metrostudy, a national housing data and consulting firm, new housing construction starts in Sarasota were up 6.4% in 2011’s third quarter versus the same period in 2010. Sarasota’s unemployment rate dropped almost 2% in the third quarter versus the third quarter in 2010. We’re also now seeing a slow overall improvement in the general economy, and consumer confidence continues to rise. While the housing market for much of the country remains stagnant, there’s every reason to believe that sales, housing starts, and employment figures in Sarasota will continue to steadily improve throughout 2012.