This month I want to start the conversation by focusing on Sarasota property owners who may be potential sellers. If you are contemplating selling for any of the following reasons, I want you to listen closely:
- If you are an owner that’s not currently using your property as much as you thought you would. Perhaps your plans and priorities have changed.
- Or you are an owner and the property that you currently have is not meeting all of your needs, for example, you live in a three story unit and you really want to live all on one floor.
- Or perhaps you now feel you are not in the best location, you prefer to live on a golf course, or you want to be in Sarasota’s walkable downtown.
- Or you are waiting for new construction to be finished before you move in- I suggest consider renting in the interim.
Sellers, there’s tremendous activity right now in the Sarasota market so if you’re ever going to consider selling, now may be the best time to do that.
To illustrate how dramatic this activity is, I looked at two statistics:
- Sales volume. From summer of 2019 – last June, July, August – to this summer, sales volume grew by 2% in June. It grew by 39% in July, and by 46% in August. Sales volume in August of this year was over $561 million dollars. That’s incredible growth in the last few months compared to the same period last year.
- The Luxury Market. This is defined by properties listed for $ 1M or more, where we do a lot of work and we have witnessed firsthand a tremendous amount of growth. Since June of last year to June of this year the growth was 23%, in July it was 61%, and in August of this year unit sales grew by over 130%, that’s more than double.
How Does Sarasota Look During COVID times?
Our community has done a great job of pivoting for its residents. Whether you’re isolating at home or you’re going out and about, there are services and amenities to meet your needs. The arts and culture of our community has many programs that have gone virtual and our grocery stores and restaurants are working hard to deliver your favorites to your personal residence.
And if you are an out-and-abouter, almost everything is open. Marie Selby Botanical Gardens is open, the Ringling Museum is open, the Sarasota Art Museum opens October 1st. You can go virtually anywhere and experience our great life.
In just a few short weeks, places north of Sarasota are going to begin to get colder. Where do you want to spend this winter when it’s cold, icy and gray outside?
I invite you to give me a call @ 941.587.0740 to discuss your real estate strategy.