Sarasota's Median Sales Price for Single Family Homes reaches $500,000 (Bradenton: for sale, 2015)

[Sunshine Rules]

Notice put out today by the Sarasota Manatee Board of Realtors:

MEDIAN SALE PRICE REACHES $500,000 FOR SINGLE-FAMILY HOMES

The spring housing market is in full swing in Sarasota and Manatee counties. According to data from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), March 2022 reported more new listings and closed sales from the previous month, while homes are going under contract quicker than any month prior. The median sale price for single-family homes in the North Port-Sarasota-Bradenton MSA increased year-over-year by 29.9 percent to $500,000, the highest recorded median sale price for the metropolitan area.

[newtovenice]

I wonder how many of the 2022 purchases will sit empty since they are investors and not families looking to actually live here.

[Trying941]

Originally Posted by newtovenice

I wonder how many of the 2022 purchases will sit empty since they are investors and not families looking to actually live here.

The investors will rent. There is a severe rental shortage. Nothing will sit empty.

[newtovenice]

Originally Posted by Trying941

The investors will rent. There is a severe rental shortage. Nothing will sit empty.

Some will, probably. I would guess it would be more seasonal rentals than long term leases.

Families cannot afford to pay the current $2500+/month rate.

Vacationers can.

The 2 houses that sold on my block ... 1 is now a VRBO and the other is empty. Not sure what's up with the empty one.

[MOforthewin]

Originally Posted by newtovenice

Some will, probably. I would guess it would be more seasonal rentals than long term leases.

Families cannot afford to pay the current $2500+/month rate.

Vacationers can.

The 2 houses that sold on my block ... 1 is now a VRBO and the other is empty. Not sure what's up with the empty one.

The houses, and condos especially many are short term rentals if the community HOA allows it.


Here in the Punta Gorda area a lot of the houses and condos are seasonal rentals. They jack the prices up on short term rentals. A lot of snowbirds rent here for about 3 months of Jan, Feb, March for the coldest periods up north.


There is much more money to be made renting short term with a higher rent rate.

[newtovenice]

Originally Posted by MOforthewin

The houses, and condos especially many are short term rentals if the community HOA allows it.


Here in the Punta Gorda area a lot of the houses and condos are seasonal rentals. They jack the prices up on short term rentals. A lot of snowbirds rent here for about 3 months of Jan, Feb, March for the coldest periods up north.


There is much more money to be made renting short term with a higher rent rate.

And you get the money upfront with a deposit.

Now, I'm wondering if short term rentals will leap to $5000/mo. Since regular rent is approaching $3000/mo. Not sure how much more vacationers will be willing to pay.

[gypsychic]

Originally Posted by newtovenice

And you get the money upfront with a deposit.

Now, I'm wondering if short term rentals will leap to $5000/mo. Since regular rent is approaching $3000/mo. Not sure how much more vacationers will be willing to pay.

You would be surprised how much vacationers will pay. Especially since many will not travel overseas now, so they come here instead. We kept our little home in Whitfield Estates near the bay for vacation use and many homes there are now successful airbnb's, and we are talking modest little ranchers as well as big million $ homes on the bay.

[MOforthewin]

Originally Posted by newtovenice

And you get the money upfront with a deposit.

Now, I'm wondering if short term rentals will leap to $5000/mo. Since regular rent is approaching $3000/mo. Not sure how much more vacationers will be willing to pay.

In sept of 2015 we moved back to FL. We had to rent short-term as the house was finshed being built and closing, etc. 3 month rental.


It was a 2 bedroom condo on a saltwater canal in PGI and also had a boat lift as well. It was $2700. I didn't need it to be on the water and a boat lift but that's all we could find really find on short noticed.


I bet that rent since it has a boat lift dock is probably 4 grand a month. I know last fall I saw a condo for sale on zillow, in that complex, basically the same one and they wanted like 250k for a two bedroom.



Most of the condos were seasonal rentals in that complex. It was Oct and still half deserted.

[MOforthewin]

Originally Posted by gypsychic

You would be surprised how much vacationers will pay. Especially since many will not travel overseas now, so they come here instead. We kept our little home in Whitfield Estates near the bay for vacation use and many homes there are now successful airbnb's, and we are talking modest little ranchers as well as big million $ homes on the bay.

depends on what you mean by vacation.



If you're talking about a snowbird, 3 month vacation for the coldest times of the year, sure. Since houses are hard to find and are overpriced, 4500-5k a month would be cheaper option.


If it's a two week vacation I'd stay at a hotel.

[newtovenice]

Originally Posted by gypsychic

You would be surprised how much vacationers will pay. Especially since many will not travel overseas now, so they come here instead. We kept our little home in Whitfield Estates near the bay for vacation use and many homes there are now successful airbnb's, and we are talking modest little ranchers as well as big million $ homes on the bay.

We have done VRBO many times as it used to be cheaper than a hotel.

I'll have to check what the rates are in Venice. It used to be known as an affordable area. We'll see.