Like other barrier island communities, Sarasota, Florida is in a strong seller's market with a diminishing number of properties available for sale, which is attracting investors as well as homebuyers.

"Sarasota is full of culture and has the white powder beaches," says Realtor Kelly Murphy, "and prices continue to increase. Low inventory and interest rates that have started to edge up are continuing to help support the price increases. It's a market where one doesn't have a lot of time to think about putting in an offer. If you wait, you may be too late. Homes are also selling for very close to their asking prices or more."

Says Realtor David D. Carson, "One thing is for certain, 2004 has seen unprecedented appreciation gains, even compared to last year's staggering numbers. The market is so strong that there are only a fraction of the properties for sale today compared to a year ago. Good homes go under contract in a day. There are only a handful of beachfront condo's on the market today, compared to hundreds at this time last year. Beachfront Siesta Key condo's are up 50 percent in the last 12 months, however it's very difficult to find one. It's a very healthy market for home owners...if you're a buyer you better grab anything you can get your hands on because the real estate market here in Paradise is no way near the roof!"

One reason why housing is so good is the popularity of the area. "Sarasota was named 'The Best Small City to Live In' by CNN/Money, and more recently as home to 'The Best Sand Beaches in America.' According to the National Association of Realtors, Sarasota, FL had the 'Second Fastest Medium Home Appreciation in 2003.'"

Agrees Realtor Lori Lockhart, "I encourage anyone to invest in our tremendous growth we have experienced here in the Sarasota real estate market. Presently our inventory is slightly down and expected to increase as "season" approaches. While interest rates are still low, now is as good a time as any to invest in your future."

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Published: August 19, 2004

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