Longboat Key, Florida | November 13th, 2018 – It’s quite heartening to note that the good news prevailed over the adverse ones in our market during this year’s third quarter, a trend that bodes well for both sellers and buyers.
In one real estate reading for our islands (Longboat, Lido, Bird Key, and Siesta Key), the market’s inventory was noted at a healthy balance of 6.8 months’ supply. This means that pricing is at equilibrium, favoring neither buyer nor seller.
Likewise encouraging, for sellers especially, is that sales and prices have remained upbeat during the July‒September period this year. This despite the recent market challenges, such as the rising interest rates and the red tide menace in Florida’s coastal communities.
Positive Reviews Pour In
Happily, the recent developments with potential adverse effects on our property market have been countered effectively by several positive reviews of our locality, including Longboat Key specifically.
One recent news favorable for our town is the October report of Home Security Advisor. This national home security provider ranked Longboat Key as the fifth-safest in Florida for towns having a population of 5,000 or higher. This new ranking came as the 10th year in a row that Longboat (which counts 7,000 permanent residents) made the security company’s safest town list.
In another recent review favorable for our region as a whole, the readers of Conde Nast Traveler magazine ranked Sarasota as fifth in the choices of the 15 Best Small Cities in the U.S. for 2018. The results of the survey by this high-end and high-profile publication were based on 429,000 responses from its readers.
Pool Upgrade at the Ritz
Conde Nast Traveler, in citing Sarasota, noted: “Sarasota is booming, and our readers are noticing. Not only is the Gulf Coast-side city home to attractions like the Sarasota Opera and Ringling Circus Museum, it’s also ushering in exciting new hotels that are far from generic beach resorts.
“Book a room at the elegant Ritz-Carlton, Sarasota, which got upgraded pools this year, or the Art Ovation Hotel, where you should spend at least one afternoon (if not a few) by the rooftop pool overlooking Sarasota Bay.
“As for the rest of your days, we suggest exploring Sarasota’s ever-growing food scene: We still stand by the aromatic mushroom bisque at Indigenous, the cinnamon roll pancakes at Station 400, and the savory crepes at C’est La Vie. With meals like these, it’s easy to see why so many people decide to spend their golden years in Sarasota.”
Happiest Seaside Living
These high praises are certainly not isolated, as last year, another highly regarded publication, Coastal Living named Sarasota as the third happiest seaside town in the country. To come up with this rating, the editors of the publication reviewed the destinations they have covered plus those nominated online via the social media.
The criteria in Coastal Living’s list included data from Gallup-Healthways Well-Being Index, as well as the percentage of sunny days, healthiness of beaches, air quality, commute times, walkability, financial well-being and standard of living, geographic diversity, and security. Online voting of visitors to Coastal Living’s website decided the final rankings of this survey.
On Sarasota counting as one of the top choices, Coastal Living said: “This is a city of surprises. Harboring world-class beaches and a top-shelf arts and culture scene (resident opera and ballet companies, plus its own symphony orchestra), Sarasota has beauty and brains in equal measure.
“Further, a collection of old-school neighborhoods with small-scale homes (not to mention a heralded collection of midcentury modern architecture) makes day-to-day life sweet, easy, and an aesthetic joy. And then there’s that Gulf—provider of breezes, local catch, and a laid-back cultural overlay that keeps life here in an ideal balance.”
All these endorsements of the Sarasota region certainly help build more confidence and stability in our property market. Give our Judy Kepecz-Hays team a call or send us an e-mail. We are ready to assist you whether selling or buying a local residence.