Happy New Year!
The year 2014 closed with a flurry of real estate sales in Sarasota County, propelling the annual total to an all-time record of 11,550 closed transactions, topping the 2004 total of 11,482. In addition, Manatee County came in at 7,976 sales, within 28 sales of the annual record of 8,004 set in 2013.
This is truly historic news, and clearly demonstrates our region is experiencing a remarkable success story in real estate.
One reason for the overall record may be attributable to the relative affordability of local properties. The overall sales volume was lower in 2014 than the 2004 record total in Sarasota County, when the median sales price for homes and condos was substantially higher than in 2014. While prices have recovered considerably in the past three years, they have not risen to the levels of a decade ago, when some experts predicted prices had reached unsustainable (and unaffordable) levels.
Inventory of available properties rose slightly for both Sarasota and Manatee counties in December, but were still low in comparison to the boom years of 2004-2006. This could continue to pressure prices upward in the coming months, due to the law of supply and demand.
We are seeing a confluence of various factors that all help our market. We have near record low mortgage interest rates, a recovering economy with unemployment at an eight year low, lower energy costs which improves household finances, and all the attributes that make our region such an attractive place to relocate and purchase property. The steady rise of home prices hasn't hampered sales, and therefore I expect more of the same in 2015. And with our busy season beginning, uur dynamic real estate community is ready to tackle the market surge that we are expecting.
Please contact me if you would like more specific information about your particular community or are considering buying or selling.
November & December 2014 Market Trends
Carolyn Donnelly presents the keys to
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Invest in the best neighborhoods on Florida's Gulf Coast
Longboat KeyLongboat Key provides quiet, luxury, waterfront properties. This narrow, 11-mile long island is stretched between the Gulf of Mexico and Sarasota Bay. Longboat Key provides beautiful beaches, a relaxed atmosphere, sunny days & a wonderful coastal breeze...read more.
St. Armand’s Circle on Lido KeyJohn Ringling purchased a group of barrier islands off Sarasota hoping to create a major tourist attraction that would include world-class restaurants, elegant shops & the finest hotels. St. Armand’s Circle has become that destination. “The Circle,” as locals call it, has exclusive shops, award-winning restaurants & a fabulous nightlife...read more.
Siesta KeyRecently voted the Best Beach in the USA by Dr. Beach, Siesta Key is most famous for its unbelievably perfect, white sand. The sand is cool, soft and made from 99% pure quartz. People come from all over the world to see the Siesta Key public beach & the beautiful ocean that lies beyond it....read more.
SarasotaSarasota is a truly wonderful place to live. The town is full of vivid colors & stunning foliage. The bright blue skies & wonderful weather promote a lot of outdoor activities. A daily view of Sarasota would include boaters, joggers, bike riders, golfers & window shoppers. Sarasota is famous for its wide array of golf courses...read more.
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Luxury Property Specialist
Residential Real Estate
201 Gulf of Mexico Drive, Suite 1
Longboat Key, FL 34228