Sarasota, FL (PRWEB) September 25, 2012
The inventory of Sarasota condos for sale remains high at 7.5 months of supply as of this July. Typically, a six- to seven-month inventory represents a real estate market in equilibrium wherein neither buyers nor sellers have the pricing leverage. An inventory level that is lower would trend toward a seller’s market which is exactly what currently exists in the single family homes market with only 4.5 months of inventory estimated in July of this year. What’s even more encouraging for Sarasota condo investors, the median price of the Sarasota condos for sale during the month of July dropped slightly to $176,000 from the $195,000 average in June 2012 due to slower seasonal demand.
One of the best investment choices seasoned brokers are promoting to investors are those rare developer-owned units that were left unsold in new condos completed in the latter part of 2006 and in 2007. This is the time frame when property prices spiraled downward because of the economic recession and developers pulled their remaining unsold units off the market. Now these remaining, never occupied units are being offered at attractive discounts from their pre-construction pricing in an effort to move the remaining inventory.
Other attractive investment opportunities that exist are units in older but recently renovated condominium developments in the downtown Sarasota area. At the popular Golden Gate Point peninsula, condos with prices under the $300s can still be found on the short sales lists at deep current market discounts. Notably, it is also around the peninsula where the priciest Sarasota condos for sale are located due to the premier location of the peninsula and the accompanying full Sarasota Bay views had by most of the developments located there.
Attractive investment opportunities also exist in the condominiums developed toward the end of 2003. These developments include those at the bay-front Sarabande and the Beau Ciel. Developments during 2005 and 2006, such as Plaza at Five Points, 100 Central, and 1350 Main boasted lofty developer prices and units located in these developments now offer attractive investment opportunities at substantial discounts. Condominiums on the downtown’s periphery, such as Broadway Promenade and Alinari, too can offer attractive opportunities due to the strong demand by seasonal renters.
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 some of the highest quality real estate marketing services for the properties in the company’s inventory. Sellers of Sarasota Florida real estate choose Sarasota Bay Real Estate due to their reputation of going above and beyond expectations when marketing properties located in the Sarasota-Manatee County areas as well as the company’s vast Internet marketing reach. Sarasota Bay Real Estate Internet assets receive more than 1,000 visitors a day and this exposure contributes greatly to a property selling quickly and for the highest price. When property marketing strategies are paramount in a sellers listing requirements, Sarasota Bay Real Estate is the clear choice in the Sarasota real estate market.
Contact information for Sarasota Bay Real Estate can be found at http://sarasotabayrealestate.com