SARASOTA HOME PRICES HOLD STEADY DESPITE LOWER SALES AND RISE IN INVENTORY

The last four months of 2022 saw an end to the seller’s market here on Florida’s Gulf coast. The second half of 2020 through mid-2022 saw price increases of up to 50%, inventory down to 7 days, and multiple offer situations on every home that hit the market. As we finished out 2022, we returned to what most would consider a normal real estate market. Overall though, our local area has benefited from an increase in property values which better reflect all that Sarasota has to offer. Historically we have been undervalued compared to other similar markets such as Naples and the east coast of Florida. Sarasota and its environs are now firmly on the map, and we are seeing strong demand from many markets, both in state and out of state. We expect this to continue for a number of reasons - politics, income and property taxes, work from home opportunities, retirement planning, etc. In contrast to the data coming out of other national markets, the local real estate market here is still very active, and is now more balanced between supply and demand. There an average of 2.8 months supply of inventory and the average time to contract for single family homes is 29 days.

MARKET REPORT MARCH 2023

MURRAY PREMIER SERVICES RENAMED PROPER

Our sister company Murray Homes home maintenance division has expanded to include bespoke home management services, and has rebranded as Proper. Proper allows luxury, custom and waterfront homeowners to experience peace of mind by providing exclusive home management services through a dedicated and highly vetted team of experts taking care of 100% of a home's needs including maintenance, service, repair, hurricane preparation and much more. To find out more, go to JOINPROPER.COM or contact INFO@JOINPROPER.COM

Bring your builder and your dreams! Stunning 0.4 acre of secluded prime "Old Florida" property on the coveted west bank of Phillippi Creek, close to town. This 17,400 sq ft lot boasts just over 100' of waterfront on a wide section of the waterway. There is plenty of room to build the house of your dreams on this beautiful parcel. MORE DETAILS HERE

RARE SIESTA KEY canal front buildable lot. This 10,882 square foot (1/4 acre) parcel is a short trip to the bay by boat (one bridge), and less than two miles to Siesta Village and the mall at Westfield on the mainland. The public beach access at Shell Road beach is also across the street. Engineered plans designed by the late architect John Potvin for a stunning 3,750 sq ft home are available. MORE DETAILS HERE

FEATURED NEW DEVELOPMENT

A LIMITED COLLECTION OF CONDOMINIUM RESIDENCES FROM $1.8M

Perfectly tailored to the flow of modern urban living, life at SOTA includes the luxury of having an array of exclusive residential and resort-style amenities at your fingertips, and the best of Sarasota’s walkable downtown at your doorstep. MORE DETAILS HERE

THE EVOLUTION OF SARASOTA’ S ULTRA HIGH - END REAL ESTATE MARKET

Looking for a successful, trusted realtor to help you buy or sell a home in Sarasota? Bev Murray has worked in Sarasota real estate since 1999. In 2021, she was ranked in the top ½ of 1 percent of over 50,000 Berkshire Hathaway HomeServices agents nationwide.

Fluent in French and Spanish, Bev is a certified real estate negotiation expert (RENE), Certified Luxury Home Marketing Specialist®, and a member of the National Association of Realtors and the Global Business Council.

Contact Bev today to assist with your next home sale or purchase. 941 724 4995 or bev@murraygroupusa.com