More people are moving to the Suncoast, according to recent report

How influx of new area residents impacts real estate prices

SARASOTA, Fla. (WWSB) -It looks like more people are moving to the Suncoast and staying here.

According to The Realtor Association of Sarasota and Manatee, their August numbers show that single-family home sales are up from last year. Sarasota County saw an increase of single-home sales by 7.4% and Manatee County saw an increase of 10.3%.

The President-Elect of The Realtor Association of Sarasota and Manatee, David Clapp, explained why the area is seeing more buyers.

"We have a lot of movement of baby boomers who are retiring. The tax changes encourage people to relocate to Florida. And so we have a lot more people coming to our market. Sarasota and Manatee are a very desirable area to be. Between our beaches, the culture, and everything that we have here, it's attracting a lot of those people who are relocating from other states," Clapp said.

Although there's an increase in people moving to the Suncoast, the numbers showed that the amount of homes up for sale in the area has actually decreased.

Clapp said even though it seems like there is a lot of construction around the Suncoast, single-family homes are not being built fast enough to keep up with the demand.

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