Sarasota Real Estate Market News

Luxury sales boost Southwest Florida real estate market

Home and condominium sales hit a seven-year high in Sarasota County during March, harkening back to the frenzy of the real estate boom. 

That was particularly evident in Southwest Florida’s luxury stratum, where well-heeled snowbirds stopped circling last month and began descending en masse.

“…On Siesta Key, the biggest problem is that there are very few affordable listings, said Coldwell Banker agent George Miller.

“There are two listings under $400,000,” Miller said. “Everything has been picked over. If one comes on the market it goes under contract very quickly.”

Miller said 147 homes changed hands on the island during the 12 months ending March 31 — just one less than during the preceding 12-month period. But the median price is now $632,500, up 15 percent from March 2011…”

Read more HERE

They bought 34 homes homes and condominiums selling for more than $1 million in Sarasota County, a 48 percent increase from a year earlier

May 19, 2012 - Posted by | News related to the Market

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