Surging Sales in Luxury Sarasota Condos!

By
Real Estate Broker/Owner with True Sarasota Real Estate

Luxury Sarasota Condos Sales Surge

sarasota condos for saleDowntown Sarasota luxury condo sales - residential condominiums in the $1 million-and-up category - are booming through the roof. According to the Sarasota Herald-Tribune, in the twelve-month period ending in May 2012, downtown luxury condo sales soared by more than 50% over sales in the previous 12 months, 33 sales versus 21 in the preceding 12 months. That surge is exciting news, indicating a reversal after 5 successive years of declining sales. Overall downtown condo sales in all price ranges increased in the same 12 months by a somewhat more modest 3.4%.

With housing prices still low as the recovery slowly begins picking up steam, and with interest rates still at all-time historic lows, it's a great time to buy a luxury condo -- or even a luxury home or a waterfront mansion -- in or near Sarasota.

As Sarasota's downtown condo sales surged, the inventory of available condos in the market fell to its lowest level ever. Not to worry: plenty of choice properties are still available for the well-prepared buyer. It's simply that a low inventory level makes the current sales surge even more remarkable.

Of course, those of us who know and love Sarasota aren't a bit surprised that so many buyers want to get in on the current action. Sarasota's Siesta Key Beach was named the "Best Beach in America" in 2011, and Sarasota has perennially been a hugely popular destination for vacationers and retirees. Sarasota's reputation as a leading cultural, educational, and recreational community is known around the world. And our average year-round temperature of 73 degrees makes the active Florida lifestyle possible almost 365 days a year.

A well-educated buyer will seek out the services of an Exclusive Buyer Agent (EBA), an agent who works exclusively for buyers and who is familiar with the market. If you're thinking about buying a luxury condo in downtown Sarasota, or luxury home in the Sarasota area, contact us today at True Sarasota Real Estate, 941-918-1956. As experts on the Sarasota luxury real estate market, we would love to show you the area, and as Exclusive Buyer Agents, we are dedicated 100% to helping you through every part of the buying process. We're ready to show you some of the most attractive luxury condos and homes for sale in Sarasota, Florida.

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Rainer
234,847
David Grbich
Realty One Group - www.FindCARealEstate.com - San Juan Capistrano, CA
Orange County Real Estate - 949-500-0484

William - great news in the Sarasota real estate market - you have a full recovery when the luxury segment kicks in - all the best, Dave

Aug 08, 2012 01:11 AM #1
Rainmaker
6,031,083
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Excellent information for prospective condo purchasers.

I would like to see a series on what is available below $500,000, $400,000 and $300,000.  Many retirees are on a budget that will not allow a million dollar purchase.

Aug 08, 2012 01:39 AM #2
Rainmaker
341,143
William True
True Sarasota Real Estate - Sarasota, FL
Sarasota Real Estate

Good morning, Dave and Roy, and thanks for your feedback!

Yes, Roy, there is plenty in the $300-500K range for retirees here in Sarasota, Florida, as well!

Aug 08, 2012 01:50 AM #3
Ambassador
1,542,190
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

William you are certainly in a hot area.  Your knowledge or Sarasota real estate always beams my friend.

Aug 08, 2012 02:03 AM #4
Ambassador
1,242,735
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTORĀ®

You are the luxury condo EXPERT in Sarasota, Florida. Folks would be crazy to hire anyone but YOU!

Aug 08, 2012 03:23 AM #5
Rainmaker
1,434,894
Yolanda Cordova-Gilbert
Richmond, TX

Will,

               Great job to see what is avaiable in your area. Looks like your market is hot!

Aug 08, 2012 07:44 AM #6
Rainmaker
2,051,414
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

William,

I am very happy to hear your good news about condo sales in Sarasota. I hope it continues for the rest of the year and you get a bunch of these incremental sales. Sounds like the recovery is making it way through Florida.

Aug 08, 2012 07:59 AM #7
Rainmaker
4,479,040
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

William, this is great news to see such a surge in sales in the million+ luxury condos!   Keep the trend going!

Aug 08, 2012 08:59 AM #8
Rainmaker
623,229
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Always good to hear that luxury sarasota condos for sale are doing quite well.

Aug 08, 2012 01:35 PM #9
Rainmaker
341,143
William True
True Sarasota Real Estate - Sarasota, FL
Sarasota Real Estate

Once again, thank you all for your wonderful comments and feeback. Wishing you a great day in real estate and more!

Aug 09, 2012 12:43 AM #10
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