Walkable Sarasota Real Estate for Sale Gets Added Value Premium


SARASOTA, FLORIDA, April, 24, 2013 – Walkability is gaining more weight as a factor in residential property purchase decisions, Sarasota Bay Real Estate reports, noting the results of a study released this March by The Center for Neighborhood Technology. The research, entitled “The New Real Estate Mantra: Location Near Public Transportation,” concluded that the high location efficiency of compact neighborhoods in transit areas with walkable streets “contributes positively to property value.” Access to jobs and a wide array of services, enabling reduction of household transport costs are also added positive attributes for these neighborhoods, the study added.

This new research, Sarasota Bay Real Estate states, validates past studies showing that home buyers are willing to pay premium prices for housing in neighborhoods developed along new urbanist principles. These higher density, “traditional neighborhood developments,” the full service realty firm said, are not only walkable but also feature mix uses in addition to their proximity to jobs, amenities and services, such as transportation facilities.

Where the neighborhoods are better

One of these previous researches, a 2012 analysis conducted by the Washington-based Brookings Institution, also showed that better economic performance is in store for walkable neighborhoods.

The merits of walkable urban neighborhoods were also expounded in a book launched last year—Walkable City: How Downtown Can Save America, One Step at a Time. Notably, the book’s author, urban planner Jeff Speck, was part of the planning team which crafted the Downtown Master Plan 2020 for Sarasota, Florida. In his book, Speck maintained that walkability is one factor that will primarily drive cities to thrive in the future. Among the things that the author proposes in his book are pedestrian-friendly urban cores and vital mass transit systems.

Sarasota’s walkable candidates

For certain, Sarasota Bay Real Estate maintained, Sarasota already have several walkable communities for prospective home buyers to choose from. In the online rating portal walkscore.com, several neighborhoods that were identified as having good walkability scores aside from the city’s downtown district included Towles Court, Rosemary’s District, Laurel Park, and Five Points, all of which offer many attractive Sarasota homes for sale. Sarasota Bay Real Estate also displays the Walkability “score” of every MLS listing listed on their company and agent websites so buyers can identify the properties with the highest scores.

Plaza At Five Points Walkability Score

An eponymous condominium, Plaza at Five Points, is indeed an epitome of a walkable neighborhood, Sarasota Bay Real Estate said. A mixed-use, high-rise condo, this property has commercial and business establishments in its first nine floors. Its 52 residential units are located on the upper floors, from the 11th up to the 17th floor, with just eight units per level.

A two-bedroom unit here with close to 1,600 square feet of floor space is typically listed among Sarasota condos for sale with asking price in the high $700s. A tag price of close to $2.4 million can be expected for an available penthouse at Plaza at Five Points.

The residents of this condo already have access to many amenities within their complex, among which are a clubroom offering panoramic views of Sarasota Bay, a pool with sundeck, gazebo and grill. A spa and modern fitness center are also available. Local attractions within walking distance from Plaza at Five Points include the city’s renowned venues for arts, culture, and entertainment. Likewise nearby the condo are Sarasota’s various boutiques and shopping centers, in addition to convenient gateways to the Gulf Coast beaches.