Longboat Key, Florida | June 25th, 2019 – Sellers of Sarasota properties would have to increasingly address a more diverse market, not just retirees or baby boomers mostly.
The Sarasota region, recent studies indicate, now appears growing more and more attractive to a diverse type of buyers, including business investors and young professionals.
Much of this trend could be gleaned from the ranking of the “Most Dynamic Metropolitans” released this June by the Walton Family Foundation. In this rating, the North Port‒Sarasota‒Bradenton metropolitan statistical area (MSA) counted as 5th most dynamic medium-sized metros. Overall, our region rated No. 23 among the country’s 379 MSAs, topping even some larger Florida metros, like Orlando which was ranked No. 39.
The Sarasota MSA notably floated on the ranking’s upper bracket because of its strong performance in the young firm employment ratio. This indicates that our metro’s industries are on a diversification mode. The region’s economy, at this track, is growing less exposed to the downside risks of its volatile tourism industry and a retiree population bound to shrink eventually.
Arising Tech-savvy Character
The Walton study noted that the Sarasota metro, like its thriving Florida counterparts, can now rely on growth contribution from its startups, particularly from knowledge-based industries. One major contributor on this sector is the tech-centric co-working space Sarasota HuB. During the past 10 years, it has incubated or launched more than 30 ventures.
This observation in the Walton research is echoed in a recent survey of Go.Verizon which installed Sarasota as second on its list of the 300 “Best Small Cities to Start a Small Business. According to this research by the online retailer of telecom products from Verizon, young entrepreneurs are ramping up the innovative atmosphere in Sarasota.
Sarasota’s vibrant financial climate resonated as well in the Go.Verizon rating. The city likewise demonstrated strength in demographic factors including population, education, tax scores, income/loans per capita, broadband Internet access, and travel time to work.
EDC Luring a New Breed of Residents
Further growth platforms are expected from the Economic Development Council (EDC) of Sarasota. This 2019, the EDC is pursuing programs to attract more skilled workers and professionals, in addition to its efforts to lure business locators to the county.
Through this programs, the council hopes to fill the wide gaps between the talent needs of the local business community and the professional workforce available locally. The EDC has observed that such occupational gaps are present in nearly all employment sectors of Sarasota, including not only manufacturers but also health care providers and financial services.
According to the EDC, these occupational gaps exist in industry sectors that provide diversify to Sarasota’s economy. If these gaps are unfilled, future growth opportunities could be missed, and Sarasota may not be able to hit its economic growth targets.
The EDC is tackling this potential growth barrier via a marketing plan promoting Sarasota’s growing employment opportunities as well as video testimonials that highlight the quality of life in the local communities. Such initiatives, of course, present many creative opportunities to highlight Sarasota’s highly desirable residential properties.
Plenty of factors are now converging to help push a real estate sale in Sarasota. Contact our Judy Kepecz-Hays team for more of the potent marketing tools that help bring about an early sale.
General Property Search: