In a recent poll from Gallup, real estate has once again been voted the best long-term investment, claiming the top spot for 12 years in a row. That’s because homeownership is one of the top ways to build wealth. Real estate as a long-term investment is favored over gold, stocks, savings and cryptocurrency.
Sarasota Luxury Real Estate Market Is Resilient
Locally, Sarasota’s luxury real estate market continues to demonstrate resilience and long-term growth potential, even amid broader market fluctuations. In recent years, the region has attracted a steady influx of affluent buyers, particularly from high-tax states and international markets, drawn by Sarasota’s renowned beaches, vibrant cultural scene, and high quality of life.
The luxury real estate segment—especially properties priced above $1 million—remains a standout performer. In the first quarter of 2024, sales of homes over $1.5 million increased by 14% year-over-year, and the ultra-luxury market (properties above $5 million) saw sales surge by 90% compared to the previous year.
Even as the broader Sarasota market experienced a modest correction in median prices and increased inventory, luxury and ultra-luxury properties continued to attract strong interest and command premium valuations. This is further evidenced by the rapid absorption of new high-end developments, such as the St. Regis Residences and Ritz-Carlton Residences, which cater to the evolving tastes of high-net-worth individuals seeking bespoke, amenity-rich living environments.
Sarasota’s luxury real estate market stands out as a favorable long-term investment due to its robust demand drivers, resilience during market corrections, and the continued influx of wealth and development. While short-term fluctuations in inventory and pricing are natural, the region’s unique combination of lifestyle amenities, demographic trends, and high-end property offerings ensure that luxury real estate in Sarasota remains a compelling choice for long-term investors seeking stability and potential appreciation.
The Laughlin Tanner Group
When it comes to navigating Sarasota’s luxury real estate market, the Laughlin Tanner Group stands out as the premier choice for discerning buyers and sellers. With decades of experience, a proven track record of outstanding results, and deep expertise in Sarasota’s most coveted neighborhoods, the group offers an unparalleled level of service and market insight.
Clients benefit from a personalized, concierge-style approach that ensures every detail is expertly managed, from initial consultation to closing.
Consistently ranked among Sarasota’s top agents, the Laughlin Tanner Group’s commitment to authenticity, integrity and client satisfaction makes them the trusted advisors you want by your side for all your luxury real estate needs.
