Is this the end of a boom cycle in the real estate market? It is too early to tell but some believe so. Below I provided graphs of inventories levels in Sarasota, Manatee, Longboat Key, Siesta Key, Lakewood Ranch and the downtown area.
What We Don't Want
It is part of our job to monitor real estate market stats like inventory levels, sold properties and pending transactions. We just don't want to see this happen again:
The above graph shows January 2004 to January 2006 inventories. They went from a low of 5,002 in September 2004 to 17,457 in January 2006. That is a 349% increase in inventories which ultimately caused the real estate bubble to burst.
Personally, I don't see this happening. There are several differences between these two markets. Many of the buyers today paid cash which creates a stronger market. Lending guidelines did tighten so most people who bought had to prove income and the ability to repay their loan. Prices escalated but not as quickly as they did from 2003 to 2005.
We will keep watching and reporting what we see. Stay tuned.
Sarasota & Manatee Counties Combined - Inventories up 6.3%
Sarasota County - Inventories up 5.6%
Manatee County - Inventories up 7.3%
I was poking through MLS and found this really great looking home for sale west of the trail in the Museum area of Sarasota. I thought you might enjoy the photos below. Give us a call at 941.822.0708 if you are looking to purchase a home and would like to see this.
- 3 bedrooms
- 3 bathrooms
- Built in 1956
- 2,474 square feet
"Cliff May" styled ranch home in the museum area. An On Grade, architect designed, professionally built, pool home that is beautiful and open with a unique relationship to the spectacular Sarasota environment. Many of the boundaries between indoors and outdoors have been erased with large sliding glass doors and clerestory windows. Additionally, the floor plan is designed in harmony with the way we actually live and entertain. Classic, California ranch elements include high, vaulted ceilings, deep roof overhangs to control interior temperatures and a centrally located kitchen; the hub around which all activity takes place. The house has three bed rooms, two baths and an over-sized garage with a full utility room. Beyond the gorgeous pool with fountain features there is also a detached studio which could easily function as a guest house since it contains a full bath, bedroom, loft and plenty of living space. This home is built entirely of masonry construction with impact resistant windows. Interior features include stainless steel appliances, Lube cabinetry and quartz counter tops in the kitchen with a custom tile back splash. The wood floors, fireplace and visible cypress eaves bring a warmth and organic nature...
If you’re looking for luxury with a rich history, established neighborhoods, and an elegant mix of old-world glamour and modern sophistication, living West of the Trail in Sarasota is the perfect option for you. Retirees, young professionals, families, and those who wish to live somewhere the weather is warm all year and an upscale lifestyle is prominent fall in love with the idea of a home West of the Trail. The neighborhoods located here are upscale, elegant, and sophisticated. They are the epitome of high-end living with the casual feel of waterfront living.
The homes West of the Trail are the homes dreams are made of. Many of the neighborhoods in this area of Sarasota are decades old, but that doesn’t detract from the contemporary elegance each one portrays. Older, elegant homes with a Spanish flair have been completely remodeled to bring buyers all of the modern upgrades needed to live the most luxurious lifestyle available. New homes feature spacious terraces and wraparound porches with outdoor kitchens and uninterrupted views of the oceans. Each neighborhood is designed to perfection, with homes large enough to accommodate big families and cozier homes perfect for a retired couple.
What’s so wonderful about living West of the Trail is the lifestyle it provides residents. Here, it is all about chic outdoor living. Many of the homes here are waterfront homes, which means you’ll spend the vast majority of your time on the water. You can decide between taking the boat out into the bay or over to the barrier islands in the Gulf of Mexico, where you can dine at waterfront restaurants, play on white sand beaches,...
You have to check out this fabulous mid-century modern home for sale in Oyster Bay Estates. I was poking around the MLS this morning and noticed it. This lovely home at 1833 N Lakeshore Drive just came on the market 2 days ago. It is located in the highly sought after West of Trail community in Sarasota. Take a look at the photos below.
- Built in 1952
- 4 Bedrooms
- 3 Bathrooms
- 3,323 Square Feet
Call us at 941.822.0702 if you would like to see it.
Quintessential Mid-Century Modern home with both original design and later addition by Jack West. Located in desirable Oyster Bay Estates, considered by many to be in the Golden Triangle of Sarasota, this perfectly proportioned space with walls of glass and Ocala block construction harmonizes with nature in a special way. With magazine quality interiors, the private courtyard pool and gated entry, multiple seating areas and a seamless open floor plan prove exciting for entertaining. Quietly perched amidst the treetops on the 2nd level, the Master Suite enjoys a sitting area, dual walk in closets, and a modern bath. The central sitting room's ceiling is...