Buyers are purchasing second homes, investment properties, and vacation condos on Siesta Key. They are buying now to lock in today’s prices and benefit from the appreciation before retirement. Siesta Key real estate has enjoyed an upward trend since the market low a few years ago. Condos on Siesta Key have appreciated 21% over the last five years!
In addition, there is virtually no land to build on left on the key. So many people trying to get into the real estate game are purchasing homes to tear down and build a new one on the lot. The lack of inventory has a direct effect to why the properties are selling at record high prices in the upwards of $12,000,000.
In all, it is a great time to make an investment in property on Siesta Key. You can realize the benefit of real estate appreciation by purchasing either a condo or single family home. Don’t wait too long, lock in today’s prices!!