Sarasota real estate numbers rallied strong in March, with sales reaching a 6 year high.
Prices rose in double digits for both single family homes and condos from the previous month, pending sales were the highest since the boom ended in 2005, and the inventory dropped to less than a third of the available properties on the market during the boom.
But real estate is not the only sector exhibiting strong growth. Local businesses across the board have posted sales numbers which have risen 10.9% over last year, primarily in auto dealers, home furnishings, manufacturing and building materials. Sales across the state were up as well, but at 7.7 %, the rest of Florida does not seem to be faring as well as the Sarasota area.
Poor weather up north and a strong tourist season in Sarasota are most likely behind the numbers; while the resurgence of the stock market, and the confidence that inspires, is a possible contributor. “The data clearly shows Florida’s recovery has picked up,” said Mark Vintner, senior economist at Wells Fargo Securities.
As reported by the Sarasota Herald Tribune, Sarasota area repair businesses (which include electrical, computer, upholstery and refrigerator) reported sales of $104 million in January and February, compared with $50 million during the same period in 2010. In similar fashion, auto repair shops posted a 24 percent gain , while auto parts sales were up 19 percent.