Growing Population Fuels Housing Demand
The annual tally for 2022 residential relocation is in and the results are no surprise... Florida was the fastest growing state of 2022.
Our highly desirable combination of temperate climate and tax advantages has been a longtime lure for part-time sun seekers and full-time residents, and those trends have seen unprecedented boost in recent years. Even before the pandemic began in 2020, the Sarasota market was growing at one of the fastest rates in the nation. We have been ranked at the top of fastest-growing cities lists for several years and there's no slow-down in sight.
So how does this growing population impact Sarasota? For one thing, there's continued high demand in our housing market, which means that prices are likely to remain high... and long-term equity is likely to continue its strong growth. For buyers, there's a great opportunity to buy into our market as property values continue to rise. The high demand in Sarasota has motivated developers to launch new construction projects, mostly luxury and amenity-driven buildings in our cosmopolitan core. These new developments attract buyers seeking premium home finishes alongside our year-round cultural amenities; the strong residential engagement Downtown encourages spending that supports our local businesses and restaurants, contributing to our city's vibrancy.