Sarasota has long been a popular destination for retirees and families alike looking for beautiful beaches, cultural attractions, dining and entertainment. As the area continues to grow in popularity, the question is - what does the future of Sarasota's housing market look like in 2024 and beyond?

I recently made a YouTube video sharing my predictions, and here’s an overview of what I foresee.

(1) Wellen Park Becomes The Next Big Thing

Wellen Park is a massive master-planned community located between Venice and North Port in southern Sarasota County. With now 10+ new communities, a downtown district of it's own and plenty of plans for hotels, retail stores, healthcare facilities and more; it aims to be a city within itself.

You also add in rare coastal proximity, the #1 school district in the state of Florida, and a much more multigenerational demographic; Wellen Park and Venice will no longer be viewed as Sarasota junior.

(2) North Venice to Nokomis is the Next Palmer Ranch

To understand this prediction, let's take a quick history lesson. Lakewood Ranch wasn't developed until 1995, and before that, the concept of master-planned communities in Sarasota was relatively rare. Palmer Ranch emerged as a collection of neighborhoods to the south of downtown Sarasota, offering proximity to Siesta Key and downtown amenities.

Fast forward to today, and the area from Nokomis to North Venice is poised to become the next Palmer Ranch. New neighborhoods and communities are sprouting up, offering a range of choices for residents. With its smart planning, affordability, and accessibility to both Venice and Sarasota, this area is set to become a sought-after location.

(3) East Fruitville Offers Convenient “Central” Living

One common frustration homebuyers in the Sarasota metro experience is finding an area that offers a perfect blend of easy access to both the beaches, culture, art, major downtowns, etc; as well as variety in housing and other conveniences. Most traditional suburbs are oriented on the "fringes" of town, so choices often mean picking one area over the other.

Developments like Lakewood Ranch are located to the Northeast, while Wellen Park sits to the very far South. What many have trouble getting context around however is the middle. Central Sarasota/East Fruitville. This area offers a surprising blend of mature Florida living with closer proximity to everything that makes Sarasota great.

With new developments and infrastructure improvements planned (i.e. Hi-Hat Ranch), this area is becoming more and more appealing...especially for those looking for central living options. Given enough time, more vagueness and ambiguity will be peeled back; and relocation buyers will start to see the true value from a locals perspective.

(4) Younger Buyers Flock to Sarasota

The past few years have seen an interesting phenomenon occur in Sarasota’s housing market, where communities originally targeting retirees started seeing strong demand from younger families as well.

Reasons include rising home prices that made areas like Venice more affordable, as well as remote work allowing people to relocate here full-time versus only after retirement.

Builders have taken notice, designing new neighborhoods and floor plans tailored towards families and promoting school zoning. And recent surveys reveal over 60% of Sarasota real estate searches are now coming from those under 45 years old. I expect this trend to accelerate over the next two years as the secret gets out that Sarasota offers big city amenities with small town charm, and surprising perspective affordability.

(5) Lakewood Ranch Becomes Everything But The Beach

This area is already everything to a lot of people, but the traditional knock on Lakewood Ranch has always been that it's "too far". That's been the history. That's been evolution. I go further from Sarasota and I can get things I can't get close because that's where the land was at.

You most likely found your way out there because of the plentiful new housing, communal amenities, master-planned feel, good schools, etc.

However, you lacked the beaches, downtown Sarasota, non-chain restaurants, and more. So the real question is: Why are you even in Lakewood Ranch and what is happening with the development landscape?

It's all changing! The emergence of the Waterside district was an absolute difference maker. A brewery, distillery, multiple restaurants, coffee shops, 25 foot sidewalks, water taxi, Farmer's market, and kid's splash pad to name a few.

Then the CenterPoint area pops up and the local favorite Owen's Fish Camp opens a second location as well as the opening of a new Ruth Chris Steakhouse.

And then we have Fruitville Commons. Coopers Hawk Winery/Restaurant, Big Top Brewing, Twin Peaks, etc.

SR70 and SR64 continue to develop. University Town Center is exploding. Every corner has a Starbucks and Publix!

So you stand here in 2024 and what do we have......multiple downtowns, large variety of restaurant venues, luxury malls, great schools, like-minded community........EVERYTHING BUT THE BEACH.

(6) Quiet Parrish Remains an Affordable Option

While Parrish Florida has often been considered a fringe community compared to Venice and Lakewood Ranch, it's steadily gaining attention. Parrish STILL offers more affordable housing options, and its location provides easy access to both Tampa and St. Petersburg.

With the addition of new developments, including 55+ communities like Del Webb Bayview and a freshwater lagoon; this part of town is really becoming a viable and attractive alternative for those looking to save on housing costs while still enjoying relative proximity to major cities.

Ending Thoughts

While change is constant in Sarasota’s housing market, I hope these insights provide a glimpse into what I see coming down the road.

With all of this incredible demand forecasted over the next two years, finding that perfect place takes an expert guide. Let me know if you have any other questions!