Siesta Key Real Estate Market Trends – Florida

Siesta Key Florida Real Estate Market Update - December 6th, 2011 6:19pm
Sales remain strong in Siesta Key Florida. As of 12-6-2011, there were 472 properties listed for sale. This is a small increase from our last quarterly market report and is expected given season is around the corner. More sellers list their homes in anticipation of the many travelers to the area who come to enjoy our beautiful beaches and weather. In Q3, an average of 33 properties sold each month in Siesta Key Florida. We expect those number to increase in the 1st and 2nd quarters of 2012.

Bank owned properties are still trickling onto the market and can be a great buy if you are quick to make an offer. Quality properties are not lasting long and some are selling above the banks asking price due to multiple offers from buyers.

If you are searching for a specific type of property, we can set you up on an automated search which will alert you to a new listing right away so you can take advantage of these hard to find deals.

Merry Christmas, Happy Holidays and a prosperous New Year from Siesta Key Florida!

Siesta Key Real Estate Market Update - September 13th, 2011 11:24am
Sales have been brisk on Siesta Key during the 3rd quarter, a traditionally slow time of year which extends into early January. Fewer sellers are listing their homes for sale and more buyers than normal are entering the market creating less inventory. The lack of inventory on Siesta Key is keeping prices stable. Inventory last quarter stood at 535 units. As of September 13th, the available units for sale stand at only 465. This is the lowest level since the housing boom/bust of 2005/06. Properties listed for sale had averaged over 600 for the past 5 years so this is a healthy sign that the market is stabilizing.

Low interest rates coupled with historically low pricing are bringing investors and primary home buyers into the local market.

Financing of certain condominiums remains tricky so please contact us if you have any questions.

News for Siesta Key, FL - July 11th, 2011 4:00pm
Sales are brisk on Siesta Key following news of its recent Best Beach in the USA ranking. Inventory levels have remained constant at 600 units over the last 4 years, but have recently dropped to 535. This is the lowest level of inventory on Siesta Key since 2006. Single Family homes on boating water are becoming harder to find under 800k. Condominiums allowing weekly rentals are disappearing as investors are picking them up for good prices. If you are in need of a mortgage on one of these short term rental condominiums, you will be hard to find a traditional 30 year fixed loan. The banks are looking for 25% down and are offering Option ARMs of 5, 7 and 10 years. Please contact us if you need review products and options with a local lender who is knowledgeable about getting these types of units financed.

News for Siesta Key, FL May 31, 2011 - May 31st, 2011 10:42am
Siesta Key Beach has been named the #1 Beach in the USA! Siesta Key has been named as a top 10 beach just about every year but has finally broken through to be named the BEST! Since this report appeared on Friday May 27th, we have seen an increase in buyer activity and people wanting to rent vacation condos/homes. Sales have been steady all spring on the small barrier island and some well priced properties are receiving multiple offers. Call us to discuss why Siesta Key is a great place to be!