There's an old saying that goes, “Don't wait to buy real estate. Buy real estate and wait.”
If you bought in Sarasota about 10 years ago, how much would you have now? Below is a comparison of the average home and condo prices this year to prices from 10 years ago.
2013 average closing price 2023 average closing price 2013 average sales price 2023 average sales price Siesta Key $654,172 $1,370,494 $482,500 $965,900 Longboat Key $746,059 $1,673,081 $493,000 $1,100,000 Casey Key $1,721,283 $4,701,767 $1,325,000 $2,850,000 Bird Key $1,269,753 $3,546,560 $850,000 $3,000,000 Lakewood Ranch (34202) $374,863 $1,074,072 $310,000$795,000 Palmer Ranch (34238) $293,420 $620,217 $293,420 $560,000 Lido Key $933,375 $2,393,072 $591,125 $1,575,000
The incredible rise in home prices and investment returns (especially when using debt) is something to consider if you are looking for a vacation or winter home. There is no guarantee that you will see these returns over the next decade. But if I were a betting man, I would bet that you will see a positive return. Not to mention the great living and family experience that a vacation or winter home can provide.
If we can help you find your vacation/winter home in the Sarasota, Bradenton, Lakewood Ranch, St. Petersburg, or Clearwater areas, please contact us at 941.822.0708.
Mark Rasmussen
Broker/Owner of Corcoran Dwellings