The notion that there is a condo glut in downtown Sarasota is hogwash. 3 Million plus perhaps, but certainly not 500 to 1.5 million.

I have studied most of the economic data prepared by the experts and respectfully disagree. What information do we have that the economists do not? Real time feedback from today’s buyer and the understanding that 50% of the new units slated for development are not going to be built any time soon.

Two examples are 100 Central and Plaza at 5 Points where in there are only seven units out of a total of 144 are on the resale market. Why? The buildings offer what most affluent people want: Great locations, high end finishes, first class amenities, up to hurricane code construction and a price point that is reasonable to justify as a second or third home.

The days of investors snapping up three pre-construction condos are long gone. What remains is the underlying population growth that has driven Florida real estate for the last 50 years.