Sarasota Real Estate Bubble

Is there a real estate bubble in Sarasota?

Prices in Sarasota have increased considerably in the last few years but keep in mind, Florida prices are a bargain when compared to other areas such as Naples, San Diego, Boston and Washington, DC.  For a chunk of white gold, give us a call today!  Please enjoy our website and see why Sarasota is the best place to live in Florida!  And good news for buyers, prices seem to be stabilizing with lots of new and resale homes on the market as of January 2006 season.  Also news you should know - in October, the National Association of Realtor® Research Group released studies of 130 U.S. cities including Sarasota-Bradenton-Venice market, to refute media claims that a housing bubble exists.  Sarasota is now a buyer's market with lots of home inventory in all prices available.

In July 2005, the Herald-Tribune referred to "the rising price of 'white gold'".  The scarcity of premium beachfront land -- sand is the white gold of the real estate market -- is what drives the value . . .  It's the land values and the scarcity that are driving this market.  Prices are going out of sight! 

Real estate developers and realtors in Sarasota alike believe after prices adjusting in past few months Sarasota is now a buyer's market however prices in Sarasota are as high as Naples and Boca Raton.

In April 2006, even though investor calls have cooled, builders are offering unbelievable incentives and sellers are reducing prices.  Buyers can view listings, buy condos, luxury waterfront property with views of Sarasota Bay and the Gulf of Mexico with a larger than average MLS inventory.  Sarasota is still a top destination for golfers who want to retire here, and we are now in a buyer's market.  It's make an offer time in Sarasota.  baby boomers are preparing for retirement and according to a recent USA Today article, "What's going to be leaving the market right now are the speculative investors who came into the market and were trip to flip homes. . . buying one, two, three, four properties at a time, and that was distorting the number." . . . Vacation home and second home sales are expected to remain strong for years, because the youngest baby boomers are only 42 years old in 2006.  Sarasota will continue to be a hot spot for a Florida lifestyle.

Well two years later -- we know there was a real estate bubble to put it mildly!  In 2008, it is a buyer's market and prices have dropped considerably from the highs of 2005.