I’ve been around real estate and Sarasota for longer than I care to admit; I’ve never seen anything like this market before. Sure, we’ve had some really hot markets before but this one is volcanic. Homes in Sarasota County are sometimes selling in hours, not days or months. The increase of your properties’ value is tangible and easily tested in this market. Some of this makes a lot of sense, but when Covid hit, a lot of us thought the market would suffer for obvious reasons. This is not the case; let’s look at why:
Interest Rates are Ridiculously Low
Covid has nearly destroyed the office workforce and people can live wherever they want now
Florida has low property taxes
Florida has no state income tax
Weather is amazing most of the year
Florida is open for business
People are reevaluating their lives and what’s important to them
For the folks that are curious about selling but don’t know where to go, there are some more-affordable options geographically. South of Sarasota/Venice is one area where the prices aren’t as high. North Port, Port Charlotte and Punta Gorda have more inventory and are still close to the beaches. If you’re thinking of moving out of state, then you definitely might want to sell at this time.
I know this market and the area intimately and I’m here to help. If you have any questions about how to maneuver in this hectic real estate environment, please know you can count on me as a resource. I will always shoot straight and give you honest advice.
Happy St. Patty’s Day!