Best Florida Realtors & Real Estate Professionals

Where People Are Hunting For Homes Right Now

Sarasota - Bradenton is the # 1 Place

Posted December 09, 2011

    According to Forbes Magazine, some of the Sunbelt cities that were hardest hit by the housing bust could be about to get a boost from the flock of snowbirds and retirees heading south for the winter.

    Forbes reviewed a report issued by Trulia.com, an Internet search site frequently used by those searching for a new home. Given that nearly 90% of people who buy homes begin their searches on the Internet, the report suggests, according to Jed Kolko, chief economist and head of analytics at Trulia, that, “where people are searching for properties is an indicator of which real estate markets are "picking up strength," and where home demand is growing.”

    Of roughly 100 million home searches on the Trulia.com website between July 1st and September 30th of this year, Trulia correlated the location of searchers and the locations where they were searching for homes. The report, called the "Metro Movers Report" is an index which suggests which real estate markets might be about to get a boost from people moving there. Several metropolitan areas in Florida boast the highest proportion of people who are searching for homes there.

    All of the top 10 cities “picking up strength” are in the Sun Belt, but Florida dominates the list with 5 metropolitan areas in the top 10. The # 1 spot where real estate "is picking up strength" was the Sarasota - Bradenton - North Port area. #1 Sarasota - Bradenton was followed in the top 10 by 4 other Florida cities including Fort Lauderdale - Pompano Beach at #4, Cape Coral-Fort Myers at #5, West Palm Beach-Boca Raton at #6, and Orlando - Kissimmee - Sanford at #10.

    In another sign of the improving health of the Florida real estate market, the Florida Association of Realtors reported that existing home sales along both coasts of Florida saw a dramatic pick up in volume this year even during the usually slow summer and early fall months. According to Judie Berger, a noted Realtor serving buyers of Sarasota lucxury homes, the Sarasota - Bradenton area saw a significant uptick in both new and existing luxury home sales.

    The resurgence of interest in the Florida real estate market, and especially the Sarasota - Bradenton area is attributed to two main factors. The first is bargain-hunter investors buying up real estate properties at what are historically low prices. The second source of interest is the huge numbers of Baby Boomers, moving into their retirement years, who have wanted for some time to buy a home or condo in a warmer climate but who were put off by the sky-high prices in recent years. These buyers, as they return for their winter stays in rental units, seem to understand that Florida home and condo prices are about as low as they are likely to go.

    "With both prices and interest rates at historic lows," says Bob Henley,a respected Sarasota Florida real estate professional, "waiting until the economy starts to pick up in 2012 may be too late to get the best property at the best price.' So, if you are a real estate investor or a Baby Boomer and you've been "on the fence" about when would be the right time to buy, now is that time.