Vacation home sales last year represented almost 15% of all real estate transactions in 2013. According to an article in CNN Money, vacation home sales jumped nearly 30% from the year before. For those looking for their second or third home in the Sarasota area during our gorgeous winter months, while the North experienced the worst winter in decades, they know firsthand that our inventory was “flying off the shelf”.
The strength in the stock market , continued low interest rates and a recovering real estate market in most of our feeder markets (Chicago, Philadelphia, New York) boosts the confidence to once again purchase family retreats.
Many of these buyers (31%) said they plan to use these homes as primary residences, often after they retire. So, once again, the real estate mantra applies “location, location, location”.
There are few places in the country more attractive for a vacation and/or retirement home than in Sarasota. We have great weather, beaches, sporting activities, restaurants and a culturally-rich community. A wonderful place to “escape to” and re-charge.
For more information on vacation homes in Sarasota or on Longboat or Siesta Key, please contact Marcia Salkin, Broker-Associate at LuxuryRealEstateInSarasota.com