Sarasota Home Sales Turn-Around Underway

Home Builders are Gearing Up For 2011

Posted November 16, 2010

    One particularly active community in the sarasota - Bradenton Florida real estate market is Lakewood Ranch, a master-planned community close to I-75.

    Like the rest of Sarasota, Lakewood Ranch is an example of the wide variety of Sarasota area communities offering everything a family could want including gourmet and family-friendly restaurants, good schools, business parks, outstanding hospitals and medical care, and over 80 golf courses.

    The Sarasota real estate market before the housing bust had been one of the fastest growing areas in Florida. But that all changed when new home building slowed to a crawl as the housing bubble burst. As recently as last Spring, there was a nearly 30+ month supply of unsold homes in the Sarasota real estate market. If things hadn't turned around, it would have taken more than 2 1/2 years to just sell all of those homes assuming that no additional homes were listed for sale during that period.

    But, things have changed again - this time dramatically for the better. Increased home sales have dramatically reduced the inventory of unsold homes. By mid-2010, inventories of unsold homes had fallen to just over a six month supply, which is considered a sign that supply and demand are back in balance. With their inventory of unsold homes diminishing, builders, including new builders to this area have "broken ground." Derek Nelson Homes, which bought the Arthur Rutenberg Homes franchise is building again as are Paradise Homes and TruLiving Homes.

    LWR Communities, the firm developing Lakewood Ranch, recently published plans for several new neighborhoods focused on more affordable housing aimed at those who work in the local area. Builders already in the Sarasota market are gearing up again. Neal Communities and its new luxury homes subsidiary, Neal Signature Homes have begun building again. Anchor Homes, Peregrine Homes, Westwater Homes, Hannah Bartoletta Homes and Lee Wetherington Homes have also restarted building homes.

    So, if you've been wondering when will be best time to buy a home or condominium in the Sarasota or Bradenton Florida real estate market, right now is the time to get involved.

    If you'd care to comment on this article or any other facet of Sarasota Real Estate News, please visit my Sarasota Real Estate Blog.

   Would you like to know more about the Sarasota Florida real estate market in general, or the cultural, shopping or recreational amenities of Sarasota ?     I'd be happy to send you my free Sarasota Florida Real Estate and Lifestyle Package.  Or, if you prefer, call me directly at (941) 266-1799 or toll-free at my office at (800) 966-2334.