SARASOTA, FLORIDA, August 2, 2017 – The timing looks right for folks hunting for condominium units and townhouses in Sarasota, as the median sales price for these residential types eased in June on the back of solid gains in new listings of Sarasota condos for sale.
Sarasota multifamily homes sales-listed in June advanced 10.7 percent, the second monthly increase in a row and representing the strongest uptick this year. This advance contrasts with prior listing declines of as much as 15.7 percent which was registered in April.
The increased condo choices in the market helped stem the price appreciation experienced in the first three months of the year which averaged about 14 percent. For June, the median condo price in Sarasota slipped 2 percent to $215,000 from $220,000 a year earlier.
With prices becoming more attractive, Sarasota condo sales in June rose 4.8 percent to 370 units from the 353 condos sold in the same month last year. This upward momentum in sales could be expected to be sustained, with the 346 pending sales recorded in June ahead by 36.2 percent over the 254 year-ago tally.
Condo buyers budgeted for units priced in the high $200s up to the $300s will find the picks more plentiful in their bracket. New sales listings at this range rose sharply by 97 percent in June, and MLS records as of early July indicate that more sellers at this segment are getting off the fence and engaging the market.
Many of these recently listed properties are quite enticing, particularly the new offerings located in some of Sarasota’s upscale golf communities. One fresh choice is at the St. Andrews East of the Plantation Golf & Country Club—a two-bedroom maintenance-free villa with a floor area of 1,765 square feet and an asking price in the high $200s. Similar villa options at the same price quotes are also newly available at Pelican Pointe and the Highlands area of The Meadows.
Moving up to the $300s, the newly listed condos are as desirable at some beachfront developments. Two recent listing amongst these are at Siesta Key—one in Sunrise Cove located on Midnight Pass Road and another at Sandy Cove on Pass Key Road. Both are one-bedroom affairs with floor areas of about 700 square feet.
A new buying opportunity as enticing could be explored at Lido Ambassador on Benjamin Franklin Drive in Lido Key. This too is designed with one bedroom but has a larger floor area of 900 square feet.
The vibrancy of the Sarasota condo market is likewise flushing out rarely available units. One is the recently listed residence at Siesta Pointe on Stickney Point Road, the southern gateway to Siesta Key. One of just 19 West Indies style townhomes in this community, this unit features three bedrooms within a floor area of about 1,980 square feet and carries a tag price in the high $300s.
In downtown Sarasota, one exciting choice surfaced this July at the Renaissance on Rosemary Place. This unit in the condo tower on 750 North Tamiami Trail is priced in the low $300s, featuring two bedrooms. It baits market interest with its close proximity to Sarasota’s various downtown amenities providing the essential strength to the local condo market.
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>>