A robust number of December sales pushed 2014 into the record year for sales numbers in the 90 year history of Sarasota MLS. In 2004 a record 11,482 sales were transacted. 2014 saw 11,550 sales closed in Sarasota County. It is a remarkable recovery for our region.
Is it the sign of another bubble getting ready to burst? This is a familiar question I often get asked. The answer from most experts is that this recovery is different. The record number of sales is partly due to the affordable prices and the low interest rates that have remained in place for the past few years. There have been a large percentage of cash sales also.
Buyers can no longer sign on the dotted line without being fully qualified or participating in a government backed program that some buyers fit into but no one is getting a mortgage these days without documentation. These are important differences in then and now.
There were 87.3 million visitors in 2011 (a record number). Florida is the top travel destination in the world. The tourism industry has an economic impact of $67 billion on Florida’s economy. And many of those visitors return to make Florida their home. Over 1,000 people are moving to Florida each day! The Sarasota area has been and will continue to be a destination for retirees and families escaping the colder climates.
Area inventory remains low and it is still a sellers market. If you or someone you know is sitting on the fence about selling their home tell them to give me a call and I can tell them what their house is worth and answer questions about how to get the best price for their property. Call Susan Phelps at 941-726-2227.