Two Florida cities named among World’s 100 Greatest Places by Time magazine
The list recognizes “100 unique destinations that are offering visitors an extraordinary experience that’s unlike any other.” Featuring both Orlando and Sarasota.

https://time.com/collection/worlds-greatest-places-2021/6079302/sarasota-florida/

The write-up on Orlando focused on the city’s abundance of amusement parks, including “the crown jewel of American theme parks” Walt Disney World and the 18-month celebration of its 50th anniversary that’s set to start in October.

Celebrating its centennial this year, Sarasota is proving itself a vital cultural capital with the new Sarasota Art Museum of Ringling College, housed in the former Sarasota High School building, with exhibitions featuring the work of artists such as Robert Colescott, Charles McGill and Samo Davis. Phase 1 of The Bay, a project that will redevelop 53 acres of city land into a bayfront public park, is set to debut this year, including the meandering Mangrove Bayou Walkway, which opened in April, and the Sunset Boardwalk. And across the John Ringling Causeway, two upscale beachfront properties recently unveiled major renovations: the Lido Beach Pavilion and the Resort at Longboat Key Club, both superior spots to watch the sun set over the shimmering Gulf waters.

“Miami has long held the reins on all things young and hip in Florida,” the description reads. “But there’s something special percolating along the once sleepy Gulf Coast these days. Celebrating its centennial this year, Sarasota is proving itself a vital cultural capital.”

First published in 1923, Time magazine noted in a press release that its third annual World’s Greatest Places article is “curated from editor and expert nominations from around the world” and that “the list recognizes 100 unique destinations that are offering visitors an extraordinary experience that’s unlike any other.”

The list is described as “a tribute to the people and businesses at the forefront of industries who, amidst extraordinary circumstances, found ways to adapt, to build, and to innovate. It shines a light on ingenuity, creativity, revitalization and re-openings in destinations across the world – from small towns to big cities, and everything in between.”

The double issue goes on sale Friday.

The two Florida cities’ inclusion on the list joins the growing amount of national and international recognition of destinations throughout the state, both as places to visit and to live. U.S. News & World Report recently included two Florida metro areas in the Top 10 of its 150 Best Places to Live in the U.S. list, with Naples ranking No. 7 and Sarasota coming in at No. 9.

 

Virginia Haley, president of Visit Sarasota County, noted the recognition helps market the area to tourists.

“These lists have a tangible impact,” she said.

Email entertainment reporter Jimmy Geurts at jimmy.geurts@heraldtribune.com. Wade Tatangelo, the Herald-Tribune’s entertainment editor, may be reached by email at wade.tatangelo@heraldtribune.com. Support local journalism by subscribing.

High Demand and Low Supply Fuels Rising Prices in Sarasota-Manatee
Click here for the May 2021 Press Release and Statistics. The June 2021 Year-End Stats will be released on July 22.

SARASOTA, Fla. (June 22, 2021) – Record-low inventory brings record-high prices in the Sarasota and Manatee housing market. According to data from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), May 2021 shows an increase in sales from the same time last year, with single-family homes closing within a median of just six days. Buyers should be prepared to move quickly to snag their dream home this summer.

REALTORS® in Sarasota and Manatee counties represented a total of 2,584 closed sales in May, an 84.7 percent increase from the same month last year, with 100 percent of properties closing at or above the original list price.

In Manatee County, single-family sales increased by 66.1 percent to 739 sales, and condo sales increased by 112.7 percent to 319 sales. In Sarasota County, single-family sales increased by 75.3 percent to 985 sales, and condo sales increased by 123.6 percent to 541 sales.

“The numbers continue to demonstrate that we’re in a historically strong seller’s market. However, the current sales growth won’t last forever. Owners waiting for top dollar may be disappointed when the number of properties available for sale eventually start to rise. With more options available, buyers will be less willing to meet a sellers’ terms,” said 2021 RASM President Alex Krumm, Broker Owner of NextHome Excellence.
With increased buyer demand, it is more likely to see a rise in cash sales, especially when cash offers are typically the winning bid in multiple offer situations. Condo cash sales increased by 250 percent in Manatee County and by 152.8 percent in Sarasota. For single-family homes, cash sales increased by 168.9 percent in Manatee and by 154 percent in Sarasota.

Prices are rising in the two-county area because supply remains limited. The Sarasota County median sales price for single-family homes reached a new record with a median price of $407,000 in May 2021, a 36.6 percent increase from last year. As for Manatee County, the median price for single-family homes was $400,000 in May, a year-over-year increase of 23.1 percent. In the condo market, Sarasota condos reported a median sales price of $312,500 and Manatee reported a median price of $243,595.

“Regardless of the recent price surge, Florida real estate remains on par or less expensive than the markets from which people are moving–giving those buyers the flexibility to pay more for a home while remaining relatively inexpensive compared to their previous place of residence,” added Krumm. “The last ten years have proven–and decisively so–that real estate is one of the best investments in the world. Even buyers who bought at the highest point before the Great Recession have been made whole again, and in most cases are turning in a profit.”
The inventory of all property types actively for sale in the two counties decreased by 74.6 percent, amounting to 4,755 fewer properties for sale than there were in May of 2020. Newly listed homes totaled between the two counties grew year-over-year by 27.1 percent for single-family homes and by 22.3 percent for condos.

The month’s supply of inventory, or the estimated number of months it will take to deplete the current inventory, stayed below one month in May. The month’s supply for single-family homes decreased by 78.1 percent to 0.7 months in Sarasota and decreased by 80 percent to 0.6 months in Manatee. Condo inventory decreased by 84.4 percent to a 0.7-month supply in Sarasota and dropped by 86.4 percent to 0.6 months in Manatee County.

Homes are selling quickly, as indicated by the median time from listing date to contract date. In the North Port-Sarasota-Bradenton MSA, the median time to contract was only six days for single-family homes, 29 days faster than this time last year. Condos went under contract in a median of 9 days, 34 days faster than the same month last year.

The total number of pending sales across the two-county market increased year-over-year by 12.2 percent. For single-family homes, pending sales decreased by 0.7 percent in Manatee and increased by 8.3 percent in Sarasota. In the condo market, pending sales increased by 42.7 percent in Sarasota, and by 18.7 percent in Manatee.

Monthly reports are provided by Florida Realtors® with data compiled from Stellar MLS. For comprehensive statistics dating back to 2005, visit www.MyRASM.com/statistics.

 

The Sarasota and Manatee housing market continues the trend of more home sales and rising prices in April 2021. According to data from Florida REALTORS® and compiled by the REALTOR® Association of Sarasota and Manatee (RASM), April reported more sales, more new listings, and record-high prices.

“It’s hard to compare to last year because of the lockdown, but we’re in a historically incredible market regardless. 2021 is turning out to be a fascinating year — an acute shortage of new homes and record migration to our area are driving prices skyward,” said 2021 RASM President Alex Krumm, Broker Owner of NextHome Excellence. “It’s a good year to be a seller.”

Closed sales increased year-over-year by 83.7 percent to a total of 2,991 sales this month. In Manatee County, single-family sales increased by 69.7 percent to 847 sales, and condo sales increased by 126.8 percent to 415 sales. In Sarasota County, single-family sales increased by 67.7 percent to 1,060 sales, and condo sales increased by 113.1 percent to 669 sales.

Year-to-date in the North Port-Sarasota-Bradenton MSA, single-family closed sales increased by 39.2 percent to 6,531 sales, and condo closed sales have increased by 58.3 percent to 3,854 sales.

Buyer demand and low supply continue to drive up median sales prices in both counties. In Manatee County, the median price for single-family homes surpassed $400,000 for the first time, reaching a median price of $405,000 in April 2021, a 19.1 percent increase from last year. In Sarasota County, the median sales price for single-family homes was $380,000 in April, a year-over-year increase of 21.3 percent. As for condos, the median sales price is $235,000 in Manatee and $310,000 in Sarasota.

According to the North Port-Sarasota-Bradenton MSA reports, the dollar volume for all sales closed in April 2021 increased year-over-year by 137.6 percent to $1.1 billion for single-family homes, and by 269 percent to $545.8 million for condos.

On the supply side, the combined inventory of both property types in both counties decreased year-over-year by 75.5 percent. The month’s supply of inventory for single-family homes stayed below one month in April, with an 80 percent decrease to 0.7 months in Sarasota, and an 81.8 percent decrease to 0.6 months in Manatee. Condo inventory decreased by 80.4 percent to a 0.9-month supply in Sarasota and dropped by 84.1 percent to 0.7 months in Manatee County.

“Things are looking good for sellers — they’re able to realize far more this year than they were last and can often dictate the terms of the sale. Buyers, on the other hand, are challenged and should be prepared to compete hard for a seller’s attention,” added Krumm. “Half of all homes are selling in eight days or less. This means multiple offers, contracts over list price, and tons of activity are the norm.”

The median time from listing date to contract date continues to shrink each month. With low inventory and increased competition, homes are selling up to 76 percent faster than this time last year. Combined for the two counties in April 2021, the reported median time to contract was 7 days for single-family homes and 11 days for condos.

The total number of pending sales across the two-county market increased by 99.2 percent, a complete rebound from the decline in pending sales during the April 2020 lockdown. For single-family homes, pending sales increased by 66.6 percent in Manatee and by 81.8 percent in Sarasota. For the condo market, pending sales increased by 184.3 percent in Sarasota, and by 146.3 percent in Manatee.

Provided by Florida Realtors® – Sarasota Manatee Association RASM

OCTOBER 14, 2020

Best Places to Retire? 13 of the ‘Top 25’ Are in Fla.
By Kerry Smith

U.S. News & World Report’s latest ranking of top retirement communities could have almost said, “Pick any town in Fla.” Seven Fla. metros are in the top 10: Sarasota (No. 1), Fort Myers (2), Port St. Lucie (3), Naples (4), Ocala (6), Miami (9) and Melbourne (10).

WASHINGTON – U.S. News & World Report unveiled its 2020-2021 Best Places to Live and Best Places to Retire in the United States. The new lists evaluate the country’s 150 most populous metropolitan areas based on affordability, job prospects and desirability.

In the “Best Places to Retire” category, Florida metro areas stood out with seven out of the top 10 slots and 13 of the top 25 slots.

“After a prolonged period of staying at home, people are taking a critical look at where they live, and many are looking to find a place they can feel happier, afford more or pursue new opportunities,” says Devon Thorsby, real estate editor at U.S. News. “The Best Places rankings can help people examine the details they consider important in a larger community.”

This year, U.S. News increased the number of metropolitan areas evaluated for both sets of rankings from 125 to 150, to provide a broader and more accurate reflection of where Americans can live and retire.

Best places to retire
U.S. News & World Report’s announcement of top retirement destinations says it’s “dominated by Florida metro areas, largely due to affordable homes, low taxes and high ratings for happiness and desirability.”

An increase in Desirability and Job Market scores lifted Sarasota from No. 2 last year to No. 1 this year – but it overtook another Florida city, Fort Myers, which became No. 2. And while Port. St. Lucie’s Housing Affordability score decreased slightly, increases in Desirability, Job Market and Health Care scores helped it jump two places to No. 3.

Miami also saw a decrease in Housing Affordability, but it broke into the top 10 this year, jumping five places to No. 9 thanks to Desirability and Job Market score increases.

The top 25 places to retire also includes three Texas communities, and two places each in Michigan, North Carolina and Tennessee.

“Moving to a new place for retirement can reduce your cost of living and improve your quality of life,” says Emily Brandon, U.S. News senior editor for retirement. “The Best Places to Retire includes information about housing costs, access to quality hospitals and the strength of the job market, which can help you find a retirement spot that will meet your needs.”

The 2020-2021 Best Places to Retire were determined based on a methodology that factored in happiness, housing affordability, health care quality, retiree taxes, desirability and job market ratings. These measures were weighted based on a public survey of individuals across the U.S. who are nearing retirement age (ages 45-59) and those who are of retirement age (60 or older) to find out what matters most when considering where to retire. Data sources include the U.S. Census Bureau and the Bureau of Labor Statistics, as well as U.S. News rankings of the Best Hospitals.

2020-2021 Best Places to Retire – Top 25
Sarasota
Fort Myers
Port St. Lucie
Naples
Lancaster, Pa.
Ocala
Ann Arbor, Mich.
Asheville, N.C.
Miami
Melbourne
Myrtle Beach, S.C.
Nashville, Tenn.
Jacksonville
Manchester, N.H.
Daytona Beach
Orlando
Dallas-Fort Worth, Texas
Lakeland
Chattanooga, Tenn.
Tampa
Grand Rapids, Mich.
Houston, Texas
Charlotte, N.C.
San Antonio, Texas
Pensacola

U.S. News & World Report is a global leader in quality rankings that empower people to make better, more informed decisions about important issues affecting their lives.

© 2020 Florida Realtors®

Best Beach Towns for Homeownership?   Sarasota  No. 6  out of 145 !
By Kerry Smith
JUNE 17, 2020

WalletHub ranked 145 U.S. cities by affordability, weather, safety and economy. The final list includes 22 Fla. cities with 4 in the top 10 and 9 in the top 25.
ORLANDO, Fla. – WalletHub released its analysis of the U.S. beach towns, and Florida had 22 cities on the list – four in the top 10 and nine in the top 25.

The analysis didn’t look at the quality of a city’s beaches, however, it ranked cities by four primary characteristics important to people hoping to buy a home – affordability, weather, safety and the local economy – but says it used “63 key metrics” to determine an overall ranking.

In the analysis that included all factors – called Best Beach Towns to Live in (Ocean) – Naples ranked No. 1 with Boca Raton third, Sarasota sixth and Vero Beach in 10th place. The study includes a separate ranking for lakeside towns.

However, an interactive chart allows users to focus only on the trait that interests them. If money is no object and safety a top concern, for example, Key Biscayne ranks at No. 7 in the U.S. – the highest of any Florida coastal town.

If affordability is a top concern, Florida cities hold 12 of the top 13 spots with Merritt Island at No. 1. Under the “weather” variable, Florida results are mixed with top-ranking Boca Raton at No. 5.

Given Florida’s history of hurricanes, it was surprising that some cities have had fewer disaster declarations than other U.S. cities. Miami Beach, Coral Gables and Key Biscayne tied for the fewest disaster declarations since 1953 with 15. WalletHub says that’s 4.9 times fewer than in Santa Monica, Redondo Beach, Manhattan Beach, Hermosa Beach, Palos Verdes Estates and Malibu, California, which had 74.

WalletHub’s ranking of Florida’s coast cities

1. Naples: 62.50 (overall score)

3. Boca Raton: 60.96

6. Sarasota: 59.68

10. Vero Beach: 58.22

12. Destin: 58.00

15. Fernandina Beach: 56.61

17. Venice: 56.35

21. Jupiter: 55.72

24. Satellite Beach: 55.13

29. Atlantic Beach: 54.57

30. Key Biscayne: 54.47

31. Stuart: 54.46

34. St. Augustine: 54.14

36. Key West: 53.90

38. Jacksonville Beach: 53.66

43. North Palm Beach: 53.07

44. Coral Gables: 52.86

48. Clearwater: 51.68

50. Pensacola: 51.56

52. Miami Beach: 51.49

53. Cocoa Beach: 51.45

56. Ormond Beach: 50.93

60. Dunedin: 50.62

63. Panama City Beach: 50.48

64. Tarpon Springs: 50.46

67. Bonita Springs: 50.13

71. New Smyrna Beach: 49.77

73. Jensen Beach: 49.62

77. Fort Walton Beach: 49.08 19

78. Boynton Beach: 48.94

80. Delray Beach: 48.61

81. Hollywood: 48.52 41

83. Marco Island: 48.40

84. Gulfport: 48.31

95. Melbourne: 46.87

112. Navarre: 44.59

113. Lake Worth: 44.50

116. Merritt Island: 44.42

120. Hallandale Beach: 44.10

122. Cocoa: 43.85

125. Daytona Beach: 43.04

127. Lantana: 42.48

128. Hudson: 42.48

132. Panama City: 41.98

136. Hobe Sound: 41.48

137. Dania Beach: 41.33

138. Apollo Beach: 41.28

143. Riviera Beach: 37.80

144. Holiday: 37.34

© 2020 Florida Realtors®

OCTOBER 9, 2019

3 Fla. Cities in Top 10 ‘Best Places to Retire’ list

U.S. News & World Report: Out of 125 cities ranked, 10 Fla. cities are in the top 50. In top 10: 1) Fort Myers, 2) Sarasota, 5) Port St. Lucie and 6) Jacksonville.

WASHINGTON – U.S. News & World Report released its 2020 Best Places to Retire in the United States list, and all Florida cities were in the top third, with three metros in the top 10.

The magazine says its rankings “offer a comprehensive evaluation of the country’s 125 largest metropolitan areas – up from 100 last year – based on how well they meet Americans’ expectations for retirement, with measures including housing affordability, desirability, health care and overall happiness.”

The report lists four Florida metro areas in its top 10.

Up from No. 2 last year, Fort Myers tops the list at No. 1 due to increases in desirability, health care quality, job market strength and happiness. Sarasota jumps from No. 3 to No. 2 due to increases in desirability, health care and job market scores, despite falling in the areas of happiness and housing affordability.

In addition, two metro areas not previously ranked broke into the top five, including Port St. Lucie, at No. 5 thanks to ranking high due to desirability, happiness scores and retiree tax policy.

At No. 6, Jacksonville was still in the report’s top 10.

2020 U.S. News best places to retire rankings – top 10
1. Fort Myers

2. Sarasota

3. Lancaster, Pa.

4. Asheville, N.C.

5. Port St. Lucie

6. Jacksonville

7. Winston-Salem, N.C.

8. Nashville, Tenn.

9. Grand Rapids, Mich.

10. Dallas-Fort Worth, Texas

Florida city rankings in U.S. News 2020 report
1. Fort Myers

2. Sarasota

5. Port St. Lucie

6. Jacksonville

14. Miami

15. Lakeland

17. Tampa

19. Melbourne

22. Orlando

33. Pensacola

54. Daytona Beach

“Deciding where to retire is an important part of your life plan,” says Emily Brandon, senior editor for Retirement at U.S. News. “When considering potential retirement spots, you should look for an affordable cost of living, proximity to health care services and a strong economy, especially if you plan to work part-time.”

The 2020 Best Places to Retire were determined based on a methodology that factored in happiness, housing affordability, health care quality, desirability, retiree taxes and job market ratings. These measures were weighted based on a public survey of individuals across the U.S who are nearing retirement age (ages 45-59) and those who are of retirement age (60 or older) to find out what matters most when considering where to retire. Survey respondents said happiness and housing affordability were their most important criteria when selecting a retirement spot. Data sources include the U.S. Census Bureau and the Bureau of Labor Statistics, as well as U.S. News rankings of the Best Hospitals.

Of the 10 least desirable retirement cities ranked by U.S. News & World Report, five are in California, including the four at the bottom of the list. Of the rest, two are in Louisiana, and one each in Alabama, Oklahoma and Tennessee.

source: © 2019 Florida Realtors®

Can’t Afford to Buy a Home? Have You Considered Down Payment Assistance?

What’s the number one hurdle for renters making the leap to homeownership? That pesky down payment. Even with an FHA loan that only requires a minimum of 3.5% down, the thought of setting aside several thousand dollars is daunting (and for some, darn near impossible).

A survey from Apartment List highlights the struggle for millennial renters, with 62% citing a lack of down payment savings as their reason for delaying homeownership. 48% have zero down payment savings, and just 11% have saved $10,000 or more.

Fortunately, there are programs out there to help, they’re just not always well publicized. Here are some tips for finding Down Payment Assistance:

1. Do a national search.
You’ll be surprised how many programs you can find. “Do you even know that down payment assistance (DPA) programs exist? You’re in good company if you don’t,” says The Mortgage Reports. “These programs help homebuyers with loans or grants that reduce the amount they need to save for a down payment. And there are more than 2,000 of them nationwide.”

2. Check out statewide programs.
From the HUD site, you can search by every state plus the District of Columbia, Puerto Rico, and the U.S. Virgin Islands to see which programs are available for you.

3. Now take it local.
Don’t forget to check for programs in your city. The City of Los Angeles Housing + Community Investment Department offers up to $90,000 in financial assistance for first-time, low income homebuyers. In Memphis, there is a zero-interest deferred loan that provides funding for first-time homebuyers’ down payment and closing costs for eligible homebuyers through its Division of Housing and Community Development. In Sarasota contact: Sarasota Housing Authority.

4. Search by your profession.
You’ve probably heard about VA loans for military members and veterans, but there are other professions that are eligible for down-payment assistance. The Neighbor Next Door Program is a program for law enforcement officers, firefighters, emergency medical technicians, and teachers that requires only a $100 down payment for eligible homebuyers. Because the program is tied to the idea of revitalization, homes in these communities are offered to eligible buyers at a 50% discount.

5. Check with your real estate agent or lender.
Doing your own research is key, but it’s always smart to consult a professional who is familiar with your specific situation.