Guess Who’s Moving In Next Door

Ryland Homes bought the parcel next to Phase III Enclave.  This is the land in between Western Pine & Palmer Glen.  The price was for $5.37 million. That comes to $200,260 per acre.   There will be 90 homes and it will be called “Palmer Reserve”. Ryland will be building larger homes than the nearby community adjacent to Laurel Lakes; Palmer Lake.  Look for 2200-3500 sq. ft. Starting in the high $200’s. They are planning to start developing in late June 2013.

The community amenities will be a tot lot & several parks.

Inventory of homes for sale in The Enclave

Inventory for homes for sale in The Enclave is extremely low

It’s September 2011 and there are only *3 active listings on the MLS for homes for sale in The Enclave, Sarasota Florida.  There is a good chance that we could start to see supply and demand factors.  The 3 active homes appear to be overpriced and could explain why they’re still on the market.

There are 278 homes in the Enclave.  Do the math and that’s approximately a 1% vacancy rate of homes for sale.  Typically 5% is a normal rate.  There are 23 homes in foreclosure status.  Average days on the market is 96 days and the median price is at $260,500.  I would say we could raise the prices a little.  However, appraisals are still coming in low so this doesn’t help on financed transactions.  If there are cash buyers out there (and there are), us sellers can be more firm on our price.  Inventory across the board in Sarasota is very low  and the crop is no creme le creme!

Season is almost here  Our northern friends will be coming down looking to buy.  In my opinion, if they looked last year and didn’t buy, just wait until they come down now and realize the inventory isn’t what it was.  They’re likely to feel frustrated.  6 months from now will be an interesting analysis on The Enclave homes for sale numbers. Let’s see where things go.   Click here to contact Bill Travers if you’re interested in buying or selling in The Enclave.

*Stats taken from My Florida Regional MLS & IMAPP on 9/11/11