SARASOTA, FLORIDA, July 20th, 2016 – D.R. Horton in recent months has been adding more new builds in Bay Street in Osprey, a neighborhood of carriage homes and townhouses where residences are typically priced in the $200s range. This national homebuilder appears to have made some sharp pencil-pushing in stepping up construction in this community. Market demand at Bay Street homes’ price points indeed has been quite robust recently.
Since January 2016, sales of condos and townhouses priced around the $200s in the Sarasota market were generally on the uptick. At this price level, 103 units of these housing types were sold in May 2016 alone, up about 16 percent from a year earlier and accounting for 27.3 percent of total May 2016 sales.
In contrast, overall sales of condos and townhouses for July 2016 dropped by 5.5 percent, a downswing felt since the start of the year except for a brief spurt in February 2016. Significantly too, the current market trend looks encouraging for prospective buyers of Sarasota condos for sale, as price acceleration has begun to show signs of slowing down in 2016.
In May 2016, the median price for condos was estimated at $218,975, up by just 4.2 percent from $210,000 a year earlier. This gain compares with the 20 percent price spike in May 2015 and the 24.6 percent blistering pace set in August and December, the fastest clip recorded in 2015.
Bay Street, with its well-priced residences in the $200s, has been experiencing brisk sales. During the last six months, 11 of its units were sold with some landing a contract less than a week of their listing amongst Sarasota condos for sale. These residences feature two to three bedrooms within floor plans ranging from 1,244 to 1,655 square feet.
The value-for-money features that D.R. Horton incorporated into the Bay Street neighborhood provide strong impetus on sales. The homebuilder started developing this community in July 2014 with some new homeowners moving in around December that year.
Located near the southeast corner of East Bay Street and US 41, this property is planned for 33 buildings including 11 townhouses with six to seven units each. The residential structures have been designed either as one or two stories, featuring one or two car garages. Upon its completion, this development will have a total of 209 residences.
Bay Street’s residential buildings flaunt quality features such as barrel tile roofs, impact-resistant glass windows, screened lanais, and block construction with stucco exteriors. A gated community with paver driveways, this development offers four floor plans, with choices in two or three-bedroom designs and all attractively priced in the $200s.
Notably, Bay Street is outside Osprey’s flood zone, and hence, there is no flood insurance cost for its homeowners; no CDD fees are charged as well. A pet-friendly neighborhood, Bay Street features residential amenities to include a resort-style pool, cabana and fitness center.
This D.R. Horton community is just east of a Walmart Supercenter and a namesake multi-use development, Bay Street Village & Towncenter. It is also conveniently close to schools, like the top-ranked Pine View, and to cultural delights, such as the Historic Spanish Point. Delightful sports, social and recreational opportunities can also be easily had through membership in nearby golf and country clubs like Oaks Club and Stoneybrook.
Access to the joys of the outdoors is within as easy reach at the 19-acre Bay Street Park just across the community. Even more pleasing alternatives are available at Nokomis Beach, the Legacy Trail, and Oscar Scherer Park that all add up to the high marks for D.R. Horton’s Bay Street condos for sale.
SARASOTA, FLORIDA, October 7, 2019 – Property values of communities in the Sarasota-Manatee region now face lesser threat from neighborhood eyesores brought about by abandoned, foreclosed homes. Known in the real estate trade as zombie foreclosures, these properties have shrunk significantly in the region. According to an August report of ATTOM Data Solutions, abandoned […] more>>