Cities on Florida’s west coast—including North Port-Sarasota-Bradenton—topped The Wall Street Journal/Realtor.com Emerging Housing Markets Index in the fourth quarter of 2021, according to new data. Naples was the highest-ranked market in Q4, followed by North Port-Sarasota-Bradenton at No. 2. Rounding out the top five were Kahului, Hawaii; San Luis Obispo, California; and San Jose, California. Cape Coral, Punta Gorda and Sebastian also ranked in the top 20.
The local real estate market saw unprecedented growth in 2021, with record home sales and prices. In December 2021, the median price for a single-family home in Sarasota County was $435,788; in Manatee County, it was $460,000. According to The Wall Street Journal, home sales rose to a 15-year high nationally as employees opted to work remotely and were willing to move for a chance to live somewhere with a lower cost of living or different lifestyle. Florida, and Sarasota in particular, has seen a major influx in new residents because of this.
The Wall Street Journal/Realtor.com Emerging Housing Markets Index identifies the top metro areas for home buyers seeking an appreciating housing market and appealing lifestyle amenities. Read the full report here.
Source: Sarasota Magazine