Redfin, a real estate brokerage firm, listed the nation’s most desirable communities based on how much they’ve grown in the last year and how challenging it is to buy a new home in the area.
According to Redfin, the popularity of Sarasota is leading to quick price hikes for new houses, and house searchers are feeling the heat. Florida has eight cities on the list, and Sarasota County, Florida, is home to seven of the country’s top ten hottest neighborhoods, according to statistics through September 2021.
The Sarasota metro area was ranked seventh in terms of where people wanted to move, according to Redfin. They discovered that more than two-thirds of home searches in the Sarasota metro area came from out-of-towners.
The data also shows median sale prices in the Sarasota market increased dramatically due to the city’s stunning beaches and clear skies, as well as vacation attractions like Siesta Key.
With a median sale price of $434,023, a 19 percent increase from the previous year, South Sarasota, Fla. earned the highest heat rating from the study.
There was even a double-digit increase in median sale price in the lowest city on the list, which contained only two places outside of Florida. That city was Fort Myers. The median home sale price in the downtown area was $264,328, up 25% from the previous year’s price.
Sarasota’s communities are also becoming more popular as the number of people retiring in the United States increases. According to the 2020 Census, just under 17% of the population in the United States is above the age of retirement. According to the Florida Department of Elder Affairs, there will be 4,422,335 people over the age of 65 in the state in 2021. According to the same data, the total population of the state is 21,596,068 people.
People’s perceptions about what they can do in the office or remotely are also influencing where they try to relocate.
According to Redfin Chief Economist Daryl Fairweather, “now that many Americans are working from home, the most popular areas are in suburbs with more natural beauty and properties that are more inexpensive than those in major coastal cities like New York and San Francisco. Many of Redfin’s 2022 list of the hottest neighborhoods check all three requirements and aren’t going to stay much more affordable for long.”
Here are the top 10 hottest neighborhoods people moved to:
- South Sarasota, FL
- East Venice, FL
- Englewood, FL
- Venice, FL
- Nokomis, FL
- The Meadows, FL
- Chatham, Cape Cod, MA
- Weston, FL
- Lake Lure, NC
- Downtown Fort Myers, FL
Like many other Americans, if you have interest in calling Sarasota “home,” we can help. Reach out to us today to learn more about Southwest Florida’s gem of a city and the benefits of life here. Contact us directly at (941) 404-4737, or email us at BrandyCoffey@TheCoffeyGroup.com.