Good News for Sarasota Real Estate
Good News for Sarasota Real Estate and throughout the Sunshine state. At the 2012 Real Estate Economic Forecast Conference last Tuesday in Orlando, NAR Chief Economist Lawrence Yun predicted homes sales would increase by 4% and home prices would inch up by 2%. He’s also predicting a greater gain to be made in 2013.
In Sarasota, Realtors agree that there are some pockets of the market with very little inventory. As compared to 2008 when there was 25 month supply of single family homes active on the market; today, there is only a 7 months supply of Sarasota homes on the market. This figure is very close to a “balanced market” between buyers and sellers. Price is still down but as inventory shrinks further the pendulum will change and prices will start creeping up again.
Recently, on the Today Show, real estate guru Barbara Corcoran noted that “Sarasota was one of the top recovering markets in the nation”. Going on to say that “Sarasota is a beautiful Beachfront Community that offers residents and visitors a sophisticated, urban cultural experience”. We agree.
Sarasota is a wonderful place to live,work and play. If you or anyone you know, are thinking of buying real estate in Sarasota, let us know! We are here to help! Marcia Salkin 941-376-6121 or Paulene Soublis 941-356-0203.