Sarasota Real Estate Market Fundamentals Remain Robust - Sarasota Bay Real Estate

Notwithstanding the home sales statistics in Southwest Florida this September, the full service realty firm Sarasota Bay Real Estate says it remains hopeful that the residential properties market in the area will sustain its recovery moving forward to 2013 up to 2014. Robust fundamentals, such as accelerating GDP growth and better job prospects, are in place to support future sales gains and buoyant prices, Sarasota Bay Real Estate maintained.

Sarasota, Florida (PRWEB) November 26, 2012

Notwithstanding the home sales statistics in Southwest Florida this September, the full service realty firm Sarasota Bay Real Estate says it remains hopeful that the residential properties market in the area will sustain its recovery moving forward to 2013 up to 2014. Robust fundamentals, such as accelerating GDP growth and better job prospects, are in place to support future sales gains and buoyant prices, Sarasota Bay Real Estate maintained.

With this sound outlook, fence-sitting sellers are encouraged to have their properties sales-listed to take advantage of the resurgence in prices boosted mainly by a thinning home inventories. Potential home buyers, on the other hand, gain more confidence that residential acquisitions at present will not only maintain their value but also have excellent chances of future market appreciation.

Notably, Sarasota Bay Real Estate this October listed two rarely offered properties in the Sarasota real estate market. One is a luxury condo just five doors away from the pristine white Siesta Key Beach. Another new offering that the realty firm listed for the month is a luxury waterfront condo in Nokomis.

Despite the decelerating sales this September following an exceptional surge in August, Sarasota Bay Real Estate also chalked up one sale after another. It sealed the deal for a residence at the Lakes of Jacaranda in Venice, which was preceded by another concluded transaction for a home at the Huntington Pointe neighborhood of Palmer Ranch among the firms list of completed transactions for the month.

Overall, Sarasota Bay Real Estate expects dramatic spikes in sales and prices as the home buying market heads into the historically fast-paced winter months. Nonetheless, the firm remains increasingly optimistic that the real estate sector will continue to derive its strength from the expected improvement of the national and local economy in 2013 and 2014.

Federal Reserve officials this September upgraded their 2013 forecast for U.S. gross domestic product growth to a 2.5–3 percent gain, a significant improvement from the 2.2–2.8 percent growth estimated this June. Even more important, Florida’s real GDP growth is picking up, though slightly behind the national rate, as per a JP Morgan Chase study released this August. The employment picture provides another ray of optimism in the same study. It noted that employment is expanding in most communities in the Sunshine State, with conditions booming in the Tampa Bay area of southwest Florida.

The recent spate of construction activities in the Sarasota-Manatee counties notably brightens the job outlook in the area. Profound positive impact, for instance, looms from a $350-million project to construct the University Town Center Mall in Sarasota which broke ground this October. Slated for a 2014 opening, the mall project aims to create a shared high-end shopping destination for Manatee and Sarasota counties. The 888,000-square-foot University Town Center Mall is now shaping up north of Nathan Benderson Park.

An estimated 1,000 temporary construction jobs is expected to be created by the mall project.
Once completed, reports say it will further create 2,000 new job positions. Additional impact on the local economy will be generated by the 1,700 multi-family homes, office spaces, hotels and the Florida World Aquatic Rowing Center which will all buffer the mall project. The mall is a partnership between two developers: University Park-based Benderson Development Co. and Taubman Centers.

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 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