Housing Boom Delights Sarasota Furniture Retailers
The housing market in Sarasota actually has been flourishing for months. Furniture sales have been flourishing, too.
It’s an economic fact of life that furniture sales correlate closely with home sales, so with home sales booming once again in Sarasota and surrounding communities, it’s no surprise that the area’s furniture retailers are also seeing sales soar.
The housing supply is slowly decreasing, home prices are rising bit by bit, and home builders are at work once again in numerous Sarasota-area neighborhoods. Home sales for Sarasota, Charlotte, and Manatee counties increased in 2012 by 19%, and that’s the 4th-highest increase on record. The median price for homes in the 3 counties rose by more than $21,000 in 2012. The housing market in Sarasota actually has been flourishing for months. Furniture sales have been flourishing, too.
Furniture retailers in the Sarasota area sold over $41 million worth of furnishings in December 2012, a 15% gain over December 2011 and the largest gain in local furniture sales in over 5 years. Those December 2012 sales were a full 32% above December 2009 figures, according to the Florida Department of Revenue. That’s an amazing rebound in only a 3-year period.
Ashley Furniture will open its first area store later this year in the Shoppes at University Center off University Parkway. Robb & Stucky, one of Sarasota’s top furniture retailers prior to 2007, is returning later this year to its Sarasota showroom on South Tamiami Trail. That store, now being remodeled, closed in 2011 when lackluster sales resulted in a bankruptcy filing.
Sales are booming at Baer’s Furniture’s 83,000-square-foot showroom on Clark Road. Manager Kent Haas told the Sarasota Herald-Tribune that the Sarasota store has seen double-digit sales increases as the recovery gains momentum. And Kane’s Furniture on South Tamiami Trail grew sales by 20% in 2012. The Herald-Tribune also reported that HomeResource, a high-end furniture retailer located in downtown Sarasota, is seeing record-high sales.
Interest rates remain near historic lows, so with slowly rising prices and shrinking inventory, 2013 is the ideal year for purchasing a home in or near Sarasota. The city’s furniture retailers are here to help with stylish and durable furniture sets in every price range and style.