Sarasota Real Estate Market: Past, Present, Future

Sarasota Real Estate Market

The Sarasota real estate market has had an interesting history over the past few years with record-breaking sales numbers and continues to show strong future potential growth.

With some of the most beautiful beaches in the world and many other attractions nearby, Sarasota is becoming one of the most popular places for home purchases in Florida. The value of these homes will continue to rise according to local real estate experts. Demand is expected to increase from first time home buyers and both local and international investors.

What the Sarasota Real Estate Market looked like 2 years ago

2015 was a record-setting year in the Sarasota real estate market. In 2015, Neal Communities, one of the top Sarasota area real estate developers, reported a 25% increase in new home sales compared to the previous year. The City of Sarasota also processed over 8,400 building permits that year — 1,200 more than 2014. Interest rose in homebuying from younger demographics in 2015 as well as those who were seeking the resort and beach amenities of Sarasota.

For the first six months of 2016, home sales in the Sarasota area dropped off by 4.6% compared to the prior year. However, local experts say the market was bound to even out after breaking record highs in 2014 and 2015. Much of the slowdown this year was due to the diminishing inventory of distressed properties in the state. Therefore, the sales declines were not due to a lack of demand, but rather a lack of supply. If distressed homes were taken out of the equation, non-distressed properties would still be up 13 percent for the six-month time period compared to 2015.

2017 remains a great time to buy a new home in Sarasota County

Despite the charted ups and downs in the distressed property market, the traditional market has still been going strong in Sarasota from 2015 to now. If you have been thinking about buying, 2017 remains a great time to do so in Sarasota and Manatee Counties.

Experts predict a rise in prices as the supply of homes remain low compared to an increasing demand. This means that a current home purchase has a very good chance of increasing in value in the near future. Mortgage rates are still historically low in spite of recent increases by the Federal Reserve, and you can still lock in an excellent rate for a 15 or 30-year mortgage.

Sarasota remains one of the most highly sought after regions of Florida for homebuying. The keys in Sarasota have world-class beaches and some of the most unique and elegant boutiques you’ll find. Incredible golf opportunities are available throughout the area.

You’ll find several beautiful and luxurious homes of all sizes within walking distance of the beach and options like boat storage and dock access if you require it. Even the smallest of condos on the Sarasota keys are frequently located less than a block away from the beach.

Consider relocating to Sarasota if you haven’t already

Location certainly matters when it comes to your next home purchase. Consider a community in Sarasota where you can easily access the natural beauty that will surround you, and invest in a region that is only expected to grow in value and demand over the next few years.

WCH Realty can help you find your next dream Sarasota home and also answer any questions that you may have about the Sarasota real estate market. Give us a call today at (941)-730-5674 for more information or to speak with one of our real estate experts.

Contact Us

WCH Realty, Inc.
6811 Staggerbush Glen
Lakewood Ranch, FL 34202
Tel: 941-730-5674
Fax: 941-388-0639