Quiet streets and established neighborhoods while being centrally located between downtown and Siesta Key Beach, that is what you will find in the South Gate neighborhood.
The South Gate area was touted as the next major re-development area of Sarasota before the market fell. Now, the majority of homes in South Gate are under contract before a month has passed.
The average sold property in the past month in South Gate is a three-bedroom, two-bath home of approximately 1,600 square feet. The average selling price is $149,000. That is about $96 per square foot, and is above the average list price of $91 per square foot.
The pressure to purchase in South Gate and the relative shortage of new listings means that the market in that specific neighborhood is balanced.
In short, if buyers wish to own a new vintage home in South Gate there is no time to wait. Hesitation now will lose the deal.
Five properties in South Gate currently on the market are featured, the least expensive being 2823 Rosewood Pl. at $162,500. Again, a three-bedroom, two-bath home (carport) that has had many upgrades, including mixing the original terrazzo with ceramic tile.
Another particularly nice buy in South Gate is 2414 Calamonga Ln. With its granite counters and solid wood cabinets, the interior feels much more modern than its build date of 1964. It is being offered at $169,000.
Some of the South Gate properties are waterfront, like 3605 Jaffa. This property not only sits on Phillippi Creek, but also has a semi-detached one-bedroom, one-bath guest house. A lot of property for only $259,900.
One that defies the statistics is 3637 Mineola. Also on Phillipi Creek with 175 feet of concrete seawall, it has three bedrooms, three baths and a two-car garage. This property is being offered at $295,000.
Finally, 2756 Valencia is being offered at $349,000. Part of South Gate that belongs to a community association with pool (as all four of the above properties do). This property is also on water, the Jaffa Canal.
South Gate is a traditional Florida neighborhood. Instead of large maples or poplars, it has oaks and palms. People really sit on their front porch in fine weather. Cars may line the street for a gathering. Parents walk or cycle with their children down the roads. Like pot roast or apple pie, something about South Gate says 'home.'