Sarasota, Florida (PRWEB) March 30, 2013
Prospective buyers eying homes for sale in Siesta Village, a popular neighborhood of Siesta Key in Southwest Florida, are likely to encounter competition from many other interested parties, Sarasota Bay Real Estate Bay said. This community, along with the rest of the barrier island, is generating significant home buying interest as the residential prices here remain at very attractive levels, the full service real estate brokerage firm noted.
While increases were posted in median prices of Sarasota homes in the mainland, marginal declines were observed in average selling prices of single family residences and condos in Siesta Key, Sarasota Bay Real Estate said. Last November, condos and homes sold in the barrier island had an average price of $357,125, down 0.8 percent from the previous month and 3.3 percent lower than the $365,000 average price in November 2011.
In comparison, the November 2012 median home prices rose 23 percent on a year-over-year basis in Sarasota. Inventory of available properties likewise is relatively higher in Siesta Key where a 7.2 months supply was estimated for last November compared to 3.9 months in Sarasota, indicating that the property market in the barrier island remains a buyer’s market.
However, at Siesta Village, which is actually a mixed community composed of residences and commercial establishments, available homes for sale are relatively fewer. Less than 20 single family homes are currently for sale in this neighborhood while sales-listed condos are at just around 40 units.
Siesta Village is located at the northwestern end of the barrier island, with Ocean Blvd. as its main access road. The residents in this area include snowbirds, renters, and permanent residents, many of whom are retirees. The residential options here include upscale beachfront condominiums, among which are Whispering Sands, The Terrace, and Terrace East. There are some luxury waterfront mansions in Siesta Village as well, and toward the inland are some island-style home rentals and Florida-ranch houses of 1960s and 1970s vintage. The architectural design of the homes built in more recent years reflects the flood zone and hurricane regulations that have been instituted. The second and third floors of these residences house the living areas while the ground floor space is for garage and storage.
Most of the buying interest that Siesta Village now generates comes from investors seeking rental properties and homes to spend their retirement years, Bay Real Estate Bay said. Notably, this village is one of the most popular places in Siesta Key because of its quaint shops, boutiques, and restaurants which aptly complement the barrier island’s pristine white beaches. Vacationing tourists from the U.K., France, Germany, and Canada favor Siesta Village.
The retirees’ preference for this neighborhood is best exemplified in the Whispering Sands condominium which is a 55-plus community. It was built in the late 1960s and is already a Siesta Key landmark, continuing the legacy of its predecessor, Whispering Sands Inn, one of the top lodging places in the barrier island during the 1950s.
There are 267 units in this beachfront condominium which is also located next to a lagoon. Its amenities include beach tiki huts, two swimming pools, a clubhouse, and shuffleboard courts. MLS listings of Sarasota homes for sale typically feature units in this condo with asking prices from the $300s up to the $700s.
About Sarasota Bay Real Estate
Sarasota Bay Real Estate is a full service real estate brokerage in Sarasota Florida owned by Sarasota real estate broker, Christina Miller, and marketing professional, Roy Hunter. Together they, and their team of well-experienced agents, provide the best-in-class real estate marketing services for the properties in the company’s inventory.
Sarasota Bay Real Estate Internet assets receive more than 1,000 visits from perspective home buyers a day due to the wealth of local community information published by the company. Through a direct feed from the Sarasota MLS, Sarasota Bay Real Estate publishes the most current real estate information on the Internet for the Sarasota, Florida, market.
Contact information for Sarasota Bay Real Estate and all of the current MLS listings of real estate for sale in the Sarasota-Manatee area can be found at http://sarasotabayrealestate.com/