Downtown 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.