Market Snapshot: June 2020

  • Lisa Rooks Morris
  • 07/1/20
While the first half of 2020 was dominated by the coronavirus pandemic and economic constraints, Sarasota’s real estate market has trended positively, presenting opportunities for both buyers and sellers. Regional inventory is at a historic low… but so are interest rates. The high demand generated by relocation to our mild climate and the tax-friendly state has outpaced the availability of listings, particularly as sellers deferred during the restrictive shut-down of the second quarter. Sellers now are poised to capitalize on an influx of buyers, many with a sense of urgency and relative price insensitivity. Single-family and condo luxury sales have surged, rebounding beyond the post-COVID effect and illustrating buyer attraction to inventory that offers privacy and security along with high-end lifestyle appointments.
Buyers are subject to a high-demand market that is elevating prices and generating multiple offers, but there is an opportunity for advantageous purchases. As sellers are attracted to the price premium, new listings will present broader inventory for discerning buyers. Low-interest rates are a key advantage for any buyer, from a conventional loans to all cash. Whether for a personal residence, part-time escape, or rental property, investment in Sarasota’s buoyed real estate market offers a more secure long-term return than the current financial market.
Sarasota’s landscape is being reshaped by luxury new construction, particularly downtown. This inventory is generating competitive pricing not just within the Sarasota market, but across a broader region of Southwest Florida as buyers compare dwelling and community amenities between cities. Our cultural landscape, metropolitan amenities, and year-round appeal are competitive advantages drawing buyers into Sarasota.
Optimizing your search or sale in the current market requires the insight afforded by decades of experience with Sarasota’s communities. Let us share our advantage.

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The LRM Group draws on extensive luxury marketing experience and legacy relationships to offer unique value to distinguished clients. Consistently ranking among the highest producers in Sarasota, we attribute our success to unparalleled market insight, constant attention to detail, and rigorous commitment to our clients' priorities.

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