In the last month, several of our listings have flown off the market in mere days, a major sign of the pent-up demand that is driving Sarasota's market right now. These properties in West of Trail and Downtown Sarasota were each uniquely appealing for their locations and design, but the fast pace of the transactions marks an advancement over the pace we've seen in prior years.
At Bay Plaza, the ultra-concierge Downtown high-rise, our listing went under contract in only 5 days with competitive offers. Bay Plaza is known for luxury onsite amenities including gym, steam room, sauna, pool, and resident lounge. Within easy walking distance to the shops and restaurants in Sarasota's core, this home received immediate attention from amenity-driven buyers. Also Downtown, a Gulfstream condo with unique Mid-Century Modern details went under contract immediately upon being listed. The stylishly renovated gem at Gulfstream Towers is ideal for city living with water views and proximity to many activities in the downtown area and on the waterfront. West of Trail, Julie Guirguis' listing in The Landings went under contract within 48 hours of being on the market. The enormous lot and gated community address attracted buyers looking for large family space.
With so little inventory on the market over the summer months, the listings that are emerging now are moving at a pace that is unprecedented for our regional market. The high demand has had a continued effect on upward pricing pressure and the pace of transactions. If you have considered listing your home, this is the time to request a strategic consultation on your current market value and ways to maximize the return on a potential sale. For buyers, strategic planning is just as important. Having tolerance for a competitive market is key right now.