Prospective home buyers more inclined on searching for new construction are likely to find Sarasota-Bradenton as richer a hunting ground among the metro areas in Southwest Florida, Sarasota Bay Real Estate (SBRE) says.
The full service realty firm based this observation on a recent research from the consultancy firm Metrostudy showing a 6.9-month supply of single-family homes under construction, finished models, and vacant units in the Sarasota-Bradenton metro area. With this inventory level, measured as of the end of the 2013 fourth quarter, the market for new residences is currently at a healthy equilibrium, SBRE affirms.
Statistics from the Metrostudy research showed that total new-home inventory in the area is now at its highest level since 2006. At the end of the 2013 fourth quarter, new residential units on the ground amounted to 1,850 residences, a 38.1% increase from 1,419 built in the same period in 2012.
Sales turnover was likewise upbeat during this quarter. Closings of new single-family dwellings rose 29.4% to 1,003 units from the 775 closed deals for newly built residences in the 2012 quarter. The sales gain was even more pronounced on an annual-rate basis with 2013 closings of 3,239 units per year, which was 40.4% above the 2,307 units per year for 2012.
Plenty of gas appears still remaining for the buoyant new-home market in Sarasota-Bradenton. Many of the residential development projects which went on-stream last year are now moving forward at full throttle, SBRE notes.
Esplanade at Lakewood Ranch, a venture of national homebuilder Taylor Morrison, is among these projects which are now in full steam. Valentine’s Day 2014 marked the opening of the Esplanade’s new golf links and presentation of several model homes. A new amenity center was also opened, flaunting a slew of recreational facilities such as a resort-type swimming pool, lap and resistance pools, barbecue area and fire pit, and tennis, pickle ball and bocce courts.
Touted as the sole active-lifestyle community in the master-planned Lakewood Ranch, Esplanade also boasts of a playground, walking trails, a canoe and kayak launch and an events lawn. Gated and maintenance-free, this subdivision covers 600 acres with 1,250 home sites. Besides single-family homes, prospective home buyers will have a choice here on detached villas. All of these residences are set amid lush landscaping and serene lakes.
The current MLS listing of Bradenton-Sarasota homes for sale carries some Esplanade residences built in 2013. One is a rendition of Taylor Morrison’s Arezzo model which features a spacious layout of nearly 2,000 square feet designed with three bedrooms, two baths and a two-car garage. It also flaunts a den and a master suite with an option opening onto a covered lanai.
Also sales-listed is a newly built Carina model from the homebuilder’s Novelli Collection. This is a two-story home with a floor area of 3,000-plus square feet, designed with four bedrooms and three baths and a half.
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>>