Good News for the Local Luxury Real Estate Market
The real estate market in Sarasota and Manatee counties continues to be brisk, especially when it comes to big, expensive homes. Over the past six months, 28 homes and condos in the area have sold for more than $4 million. This compares to only 10 properties sold during the same period the previous year. Local Realtors say that Sarasota has become a destination market but is not over-priced when compared to Naples or Miami. The inventory of high-end homes for sales continues to grow as well. According to My Florida Regional MLS, there are 103 homes listed for $4 million or more in Sarasota and 19 in Manatee. Waterfront properties are in particular demand, and studies show that buyers come from all areas of the country, with a greater influx from the Northeast and California.
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