As homebuyers and sellers in many parts of the country are beginning to shake off the aftermath of a long winter, the spring real estate market is in full swing in Naples and Sarasota. Demand for luxury homes in Southwest Florida continues to drive the market in premier resort locations.
Here are just a few of the factors that are impacting real estate sales in Southwest Florida:
Sarasota Pending Sales Up: According to a recent article in the Herald-Tribune, pending sales in Sarasota were up 6.4% in February 2014, despite decreases in other areas. According to the article a decrease in short sales means higher and more favorable prices for Sellers who want to move up or trade in their large yards for maintenance-free living.
Market Stability? Home prices are expected to rise between 5.5 – 6% nationally in 2014 compared to an 11.5% jump in 2013. This, combined with the lowest state unemployment rates in the region since 2008 and fewer short sales, has led many area professionals to declare a healthy and growing market. With consumer confidence on the rise, more buyers are re-entering the market.
Retirement, Revisited: Many Baby Boomers who put off selling their home due to unfavorable market conditions over the last several years are now reconsidering their options. Higher real estate prices, combined with interest rates that are still at historic lows, are motivating Baby Boomers to buy homes in Florida now. According to a recent article in the New York Times Florida remains a favorite destination for retirees.
From acclaimed golf resort locations to award-winning architectural design, London Bay Homes is the preferred choice for luxury real estate in Southwest Florida. Our portfolio of communities includes maintenance-free cottages, distinguished homes, and exceptional estate homes in Naples and Sarasota. Each home is personalized based on your signature style.
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