Before I discuss the concept of co-primary residences, let me make two points about the current real estate market:
- Seller Palooza. First, it’s a little bit like a seller palooza going on here in Sarasota right now as a lot of real and wannabe sellers are bringing their property to market. This could create choices and opportunity for buyers in some communities.
- ADOM. Another concept that I want to talk about is Active Days on Market (ADOM). I think a little bit too much stock is being placed in this statistic. At a certain number some are thinking, “Oh, that’s too many days on market.” However, recently we were participating in two transactions that had multiple offer situations. One property was on the market for 183 days, and the other 143 days.
Live Fluidly Between Your Favorite City Pairs
Historically we have had clients consider one home their primary residence and another their secondary. I want to encourage a new framework that I see working well for those who have independence and flexibility in their lives. It is the notion that you can live and move seamlessly between two places. Sarasota is now a year-round destination. Yes, you may want to spend more time here during the winter, but there are literally year-round events going on in our community and we are seeing more and more people enjoy having their clothes in both places and being able to fluidly go back and forth.
Lots of people come to Sarasota for many different reasons- the lifestyle, beaches, culture, arts, friends, et cetera. But do they really need to stay here on a fixed schedule? Sometimes family obligations, children or grandchildren, aging parents, work responsibilities, or other activities that bring them joy (such as skiing or hiking) don’t necessarily exist here.
Making the mental shift to idea of having co-primary residences makes sense because then you can easily stay connected throughout the year with friends, family, lifestyle, and culture that brings you joy in both locales.
We are seeing a lot more of this here- whether it’s Sarasota & London, Sarasota & Paris, Sarasota & Colorado (for those that like skiing), Sarasota & Austin (for people that run tech companies), and Sarasota & New England.
SRQ Airport Adding New Non-Stops
This is going to increase in popularity even more in 2024 as our beloved airport will add some new nonstops. We are going to have a nonstop between Sarasota and Miami, which is going to open up Central and South America with ease. We’re going to have a new nonstop to California, and Allegiant Airlines is increasing their capacity by 40%.
I believe joy happens when you spend time in the places that you really love. So, as you go through this holiday season and you want to give yourselves a gift, I think making the mental shift to choosing your favorite city pairs is something to strongly consider.
When you want to align your real estate wants and needs with your inner joy, give me a call @ 941.587.0740.