SARASOTA CO., Fla. (WFLA) — Real estate brokerage service Redfin ranked the hottest neighborhoods in the United States by how much they’d grown over the past year and how hard it is to lock in a new house in the area.
Sarasota’s popularity is adding to the rapid price increases for new homes and house hunters are feeling the heat, according to Redfin. Eight cities on the list are in Florida, and based on data through September 2021, Sarasota County in Florida is home to seven of the top 10 hottest neighborhoods in the country.
“”The Sarasota area has changed radically over the past year,” said Redfin real estate agent Eric Auciello. “Many of the towns surrounding Sarasota are exploding in popularity because so many people are getting priced out of Sarasota proper or moving in from out of state to work remotely and take advantage of the sunshine, low taxes and relative affordability. A lot of the neighborhoods house hunters are flocking to have historically been retirement communities but are becoming younger with all of the first-time buyers and early retirees moving in.”
According to the Redfin ranking, the Sarasota metro area was the eighth most popular place people wanted to move. Their analysis of home searchers found that more than two-thirds of searches in Sarasota’s metro came from out-of-towners.
Thanks to Sarasota’s beautiful beaches and clear skies, and vacation destinations like Siesta Key, median sale prices in the Sarasota market were up significantly, according to Redfin data.
South Sarasota, Fla. had the highest heat rating from the study, with a median sale price of $434,023, a 19% increase compared to the year before.
Even the lowest city on the list, which had just two areas outside of Florida, saw a double-digit median sale price growth in its market. That city was Fort Myers. The downtown area saw a median sale price of $264,328 per home, but 25% price increases compared to the year before.
Redfin said the communities are also seeing more popularity due to retirement being on the rise in the U.S. The 2020 Census reported that just under 17% of the U.S. was of retirement age. The Florida Department of Elder Affairs reported that in 2021, there were 4,422,335 residents ages 65 or older. The state’s total population is 21,596,068, according to the same report.
Shifting attitudes on what workers can do, either working in the office or remotely is also having an effect on where people try to move.
“Now that remote work is the norm for many Americans, the most popular neighborhoods are in suburbs with natural beauty and homes that are more affordable than those in major coastal cities like New York and San Francisco,” said Redfin Chief Economist Daryl Fairweather. “Many of the hottest neighborhoods on Redfin’s 2022 list check all three boxes and likely won’t stay much more affordable for long.”
Here’s the top 10 hottest neighborhoods people moved to:
- South Sarasota, FL
- East Venice, FL
- Englewood, FL
- Venice, FL
- Nokomis, FL
- The Meadows, FL
- Chatham, Cape Cod, MA
- Weston, FL
- Lake Lure, NC
- Downtown Fort Myers, FL