More Home Investors Back in Sarasota?


SARASOTA, FLORIDA, June 22nd, 2017 – Sellers of single family homes in Sarasota seeking a fast cash sale now appear to have better chances at sealing a quick deal, recent real estate data show. Cash sales on pre-owned residences in the county ramped up 6 percent in April, the first gain in 12 months, indicating renewed investor activity in the area. Cash sales on single family residences in the county have declined by as much as 32 percent in the last 12 months.

Turnover of Sarasota homes for sale totaled 793 units in April, up 8.3 percent from last year. Out of this total of single family homes sold, 316 were paid in cash. Median sale price in April rose 9 percent to $272,500 from $250,000 a year earlier.

Sweet Spot for Investors

More Home Investors Back in Sarasota?

As a further indicator of increased investor activity during the month, the advance in April sales were stronger on investor-friendly price levels at between $150,000 and $249,999. Sales at these price points stepped up by 13.1 percent which compares the 8.3 percent overall gain of the market.

More choices offered on the market in April at this investor-friendly price points also appeared helping market activity in this segment. Inventory of single family homes in the $150,000–$249,999 price range averaged a 13.8 percent increase in April, compared with the 12.3 percent inventory spike for the entire market.

New Listings to Consider

Quite encouraging for prospective home investors, May sales listings in the abovementioned price segment remained upbeat. The choices added on Sarasota homes for sale listed during the month included several properties at the Venice Gardens priced starting from around $160,000 up to $220,500. The new listings in this community, which is located south of Center Road across Pelican Pointe Golf and Country Club, have floor areas of between 925 and 1,800 square feet designed with two to four bedrooms.

Recent market activity is likewise brisk at DeSoto Acres south of University Parkway which offers acre-sized lots and touted as the oldest Sarasota subdivision outside of the city limits. One of its homes listed in May is priced in the low $200s, a three-bedroom residence with a floor area of 2,480 square feet built in a lot of over 2 acres with a horse stable included. With such rare features, an available property at DeSoto Acres could sell within a few weeks of its listing on the market.

More Subdivisions in the Mix

Moving forward, home buying could be as brisk too at Tamiami Terrace in South Sarasota where a short sale has been also listed in May for a 1,194-square-foot home with two bedrooms and two baths. This residence is priced just a shade under the $200s, making it a strong investment prospect.

Westlake Estates, a deed-restricted community west of the Ashton–Beneva Road junction, likewise offers new choices on Sarasota homes for sale attractive to investors. A three-bedroom pool home in this community with a floor area of 1,655 square feet and priced in the $200s was listed recently amongst Sarasota homes for sale. Centrally located, Westlake Estates is conveniently close to the Red Bug Slough Preserve which offers a lushly wooded area with trails, a lake with a fishing dock, and a butterfly garden.

Mobile City just east of the Nokomis Community Park and the Legacy Trail also offers newly listed, affordably priced Sarasota homes sale. The typical sales listing this community west of the Ed Smith Stadium, feature two-bedroom plans measuring 1,470 square feet and priced below the $200s.