It’s also the fastest-growing, according to the Wall Street Journal and Realtor.com report.
Sarasota is once again making headlines for its real estate market and quality of life. The Wall Street Journal recently partnered with Realtor.com to rank which housing markets are expected to give homebuyers a strong return on their investment while at the same time offering a good quality of life, and the Sarasota-Bradenton area ranked No. 17 this quarter—up 43 spots from this summer, making it the metro area with the highest spike in growth.
“There are more people coming in from out of state, and that’s why you’re seeing this trend. They’re willing to spend more than asking prices,” says Tyrone Shinn, Sarasota market president for Centennial Bank, one of the largest construction lenders in the state. “It used to be just retirees but now it’s more families. What used to be more vacation home buying has become more permanent home buying.”
Growth in median asking price in our region was more than double the average rate of growth in all 300 markets—up 13.4 percent compared to 6.6 percent. And in this quarter’s data, the median listing price for the top markets was $392,800—$33,700 higher than last quarter’s median listing price of $359,100.
REAL ESTATE: Sarasota Magazine, November 4, 2021, Article by Kim Doleatto