Sarasota’s Real Estate Market: Do Buyers Have Reason to Feel Uncertain?

Today I’m standing on a dock here on Bird Key- where we have recently encountered several multi-offer situations when negotiating for our buyers and sellers.
I want to share what a lot of our recent buyers are feeling. It’s called “Uncertainty.”

Some of that is personal uncertainty. For example, as they’re making the transition from a part-time resident to a full-time resident. They’re asking, “What is it going to be like in the summer?” “Am I going to be hot?” Or they’re making the transition from being a vacationer to a part-time resident and they’re trying to figure out “Is Sarasota the right place?” “Am I going to like it here?” “Will I make friends?”

There’s also another kind of uncertainty that buyers and sellers are feeling and that’s called “Real Estate” or “Location Uncertainty.” This is, “Am I choosing the right neighborhood?” “How is the weather going to affect my buying decision?” “Is there too much traffic?”

What I feel a lot of people are looking for is validation. There’s no lack of people and institutions investing in Sarasota.
Here are some examples of high profile investment going on in our market:

  1. Recently there have been a number of large sales on a commercial level. For example, the Ritz Carlton in Sarasota was recently sold for over 170 million dollars.
  2. Desoto, the rental apartment building next to Whole Foods, is now complete and fully occupied and on the market for 40 million dollars.
  3. The Atlanta Braves are going to be starting Spring Training here in the spring. And they’ve invested hundreds of millions of dollars to be part of this community.

I think this validation removes a lot of the ambiguity and uncertainty about investing in this marketplace.

So many of the decision factors are personal, and each individual family needs to come to terms with what is right for them. But in terms of the community- more and more money continues to be invested here, whether it’s in our real estate, our amenities, or our hospitality.

SRQ Airport Flying HIGHER and HIGHER!

I’m a big fan of being able to fly in and out of the Sarasota Airport. With the addition of all the new routes with Allegiant Airlines, there are now 26 non-stop destinations that can be reached from our local airport. That’s incredible! That’s about 4 ½ times more than it was a couple of years ago.

People from Columbus, Baltimore, Denver, Nashville, and many other places will be able to be in Sarasota with only one short flight.

If you are going considering a real estate transition and feeling stressed and overwhelmed, let us help you through the complexities. As a real estate boutique, we are focused providing a full spectrum of expertise and support that is so essential to making life transitions go more smoothly. See what our clients are saying about our level of experience and service.

Read what our clients are saying here. 🙂

Call me (941.587.0740) with any questions I can answer for you.

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