Sarasota’s Luxury Real Estate Market Rebounding

The Sarasota Herald Tribune reported the market for luxury homes and condos is rebounding. Interested buyers are generating multiple offers on million-dollar homes. Luxury properties in Sarasota have not experienced a multiple offer climate since 2007. February Sales of Luxury Homes were up 48% with 31 property transactions.

Fueled by Wall Street gains, rising consumer confidence, beefed up demand for high-end homes amid shrinking inventory, and seller flexibility on price, buyers appear poised to make deals that were rare three years ago.

Sarasota Luxury Home Inventory

Luxury home inventory is getting back to the levels experienced before the housing boom.   There were 847 million-dollar properties available during the first quarter of 2012.  This is near the same levels experienced in 2003 when there were 717 luxury properties available.  Buyers are finding a wide variety of available luxury properties from horse ranches to luxury condos overlooking Sarasota bay.

“With inventory low in all price ranges, it is prudent for the buyer who’s ready to purchase to evaluate your wants and needs and turn them into a smart purchasing decision. I am here to assist you.” – Deborah Beacham.

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