SARASOTA, FLORIDA, November 27th, 2013 – Prospective sellers in the home resale market risk missing out on opportunities if they fence-sit amid the upbeat mood in new home construction, Sarasota Bay Real estate reports. Newly built residences are drawing an increasing number of buyers, prodding homebuilders to step up construction, the full service realty firm says, citing a research from Houston-based market analytics firm Metrostudy.
The report showed a 47.7% increase in sales closings for new single family homes in Bradenton-Sarasota during the 2013 second quarter to 755 units from 511 a year earlier. On an annual basis, the closings rate stood at 2,730 units per year, up 32.1% from the 2,067 units per year registered during the 2012 second quarter.
Housing starts in the area hit 970 single family homes in the 2013 second quarter. This total is 70.8% higher than the 568 units registered a year earlier. For the same comparative period, the annual rate rose by 50.2% to 3,219 annual housing starts.
The master-planned Lakewood Ranch mirrors the accelerated pace of new home construction during this year’s second quarter. For this period, housing starts in this multi-community, mixed development totaled 588, up 55.6% from last year’s 378 units. With this rate, Metrostudy ranked Lakewood Ranch ninth among the top 20 master-planned communities midway through this year.
Recent monthly sales of Lakewood Ranch-based Neal Communities likewise reflect the sustained gains in sales of new homes. In July and August, Neal respectively sold 72 and 65 new residences, sending its year-to-date sales beyond the 600-unit level and on track for a banner performance for 2013.As of this third quarter, the homebuilder has sold 657 units, already ahead of the 442 homes sold during the same period last year.
National homebuilder D.R. Horton is also experiencing brisk sales locally. In October, it reported that there are only a few lots remaining in its University Groves Estates. This community’s popularity among home buyers is attributable mainly on its prime location.
The University Groves is just off University Parkway, enabling its residents a convenient access to shops and restaurants. The University Park Center scheduled for completion next year is also near this community.
The prices of the remaining University Groves homes for sale start in the high $200s.These residences feature two bedrooms in floor areas of almost 2,000 square feet. Buyers can be easily impressed by their superb sites which are adjacent to a nature preserve. Their builds are as striking, with the tile roof construction and paver driveways of the residences.
As appealing, the homeowners’ association fee in this community includes lawn care maintenance. Also equally attractive, University Groves Estates doesn’t have community district development fees.
For existing homes, a nearby community, Copperfield, has an active listing in the MLS priced in the low $200s. This residence built in 1989 features three bedrooms in its floor area of close to 1,800 square feet. A newly added listing in this community has a quoted price in the high $100s.for its floor plan of 1,500-plus square feet, designed with three bedrooms and two baths.
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>>