Housing inventory is up in Sarasota and Manatee counties and the Sarasota condo sales are up 36 percent. This is a “Seller’s market,” and the Sellers are testing the waters with higher list prices; we can expect to see a longer time between the listing and the contract and we can also expect to see some price decreases. An increase in the median price of homes isn’t always good news for Sellers because their challenge is to find a replacement home at the right price. Here are some interesting June 2017 real estate statistics for very "hot" areas in Sarasota.
My blog last week featured downtown Sarasota and the new cultural center that is being planned at Bayfront. A few blocks from Bayfront is Sarasota’s Rosemary District. “Rosemary District is to Sarasota what Brooklyn is to New York City,” according to a feature article in the August Sarasota/Manatee Realtor Magazine. It began in the early 1900’s, and prices in this eclectic neighborhood are on the rise. Rosemary District is Fruitville Road to Tenth Street and Orange Avenue to Tamiami Trail. This is an historic area that combines charm with progress with all of the amenities of city life.
Last week, I had dinner at the Blue Rooster, 1525 Fourth Street—in the Rosemary District. The Divebombers provided the entertainment. Band member George Worthmore is also a member of the New York Blues Hall of Fame. They play Rockabilly, Chet Atkins, Johnny Cash, Merle Travis, and Jerry Reed music; see photo at the end of this blog! Each Wednesday night at the Blue Rooster, Al Fuller’s Famous Blues Jam entertains from 7:30 – 10:30 p.m.
Linda’s List
A4191875, 3125 Regatta Circle in Gulf Gate Woods, 2BR, 2BA for $269,000, 15-minutes from Siesta Key Beach.
A4192195, 3857 Prairie Dunes Dr., Country Club of Sarasota, 3BR, 3BA, $469,000 near Palmer Ranch.
A4192612, 3960 Spyglass Hill Road, Country Club of Sarasota, 3BR, 2BA $475,000 near Palmer Ranch.
A4191635, 7707 Calle Facil, Prestancia Country Club and golf community, 2 BR 2.5 BA $599,900 in Palmer Ranch.
A4179797, 250 Hidden Bay Drive, Edgewater at Hidden Bay, 3BR, 2BA, $495,000 in Osprey near Nokomis Beach. (see photo below).
For more information, go to LindaHrealtor.com and enter the MLS number beginning with the letter A for photos and listing information.
Tired of paying rent? Steve Harney says that the cost to rent is higher than the cost of buying. Average rent for Sarasota is $1,650 per month and the average mortgage payment is $1,531. Lenders have programs allowing more flexibility with credit scores, and MSC Mortgage has a program with just 1% down. Call me for more info.
I signed a contract with a publisher last week for my book, Motion to Intervene. I’m very excited to share what I learned about buying properties during the pre-construction phase in a high alpine environment--before I became a Realtor. My publisher says that the book could be out by Christmas, and it will be available to order on Amazon.com and Barnes and Noble. Part of my business is by referrals, so keep in mind that regardless of your location, I have worldwide connections! We are local and we are global, so if you are here, I would love to help you with your real estate needs. If you need to buy or sell a home elsewhere, I'll be sure that you have an excellent real estate professional to help you through the process. I’m at 941-914-4914 Facebook.com/LindaHolleyLLC.
Most sincerely yours,
Linda Holley, Realtor, GRI
Our best months for Sarasota home sales last year were March-May. During that time, we sold more homes each month and the average price of homes sold was $284k. The rest of the year, total volume sales and prices varied each month. In January 2015, the average price of homes sold was $277k. Does that mean that prices are dropping? No, by comparison, Jan '14 to Jan '15, we sold six percent fewer homes this year (most foreclosures were sold by last year), AND the average price increased by $11k. Since the stronger months for home sales are March-May, using the January trend increase, then one can predict that the average price may be as high as $295 ($284+11) this spring.
If you are waiting to buy or sell your home in Sarasota, now is the time. So call me at 941-914-4914...I'm excited to work for you!
Linda
Data supplied by Trendgraphix 2/21/2015, * All reports are published February 2015, based on data available at the end of January 2015, except for the today stats. All reports presented are based on data supplied by the Mid-Florida MLS. The Mid-Florida MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the Mid-Florida MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
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