Market Trends in Sarasota for 2015

All sectors are showing an upswing, beachfront is super-hot

REALTALK #23 on November 12, 2014.
REALTALK #23 - Market trends for 2015

The numbers for luxury properties sold last year were strong, this year we could easily top that. There were 365 homes sold in 2013 that were over one million dollars in Sarasota. With 23 days left in 2014, close to 400 have been sold in the county.

In all, 723 residential single family homes and 288 condominiums were sold in October of this year.  That was an eight percent increase over the previous month. The numbers were similar in Manatee County to the north. There was a nine percent jump in single-family homes in October.

And now we are in the season to sell your property. Nearly one month ago I reported in REALTALK™ #23 there were 72 homes for sale in the luxury market over $4 million and that 20 were either sold or pending. This was unusual because the sales likely went into contract in our traditionally slow period of the year. There are currently five homes for sale in the county over $10 million, four have sold in the last 12 months with the highest selling for the asking price of $11.85 million.

Since that REALTALK™ on November 12th, I have had the good fortune of closing one listing as the highest selling home on Longboat Key for 2014. The home sold for $5.75 million. This was a beautiful home on the Gulf of Mexico beach with multiple levels and an observation deck on top. The beachfront market is super-hot as I pointed out in the video. The beachfront properties I currently have on the market is a good mix of single-family homes, buildable lots and condominiums that offer many amenities and security.

There are many reasons for the resurgence. You can call it the economy, but Sarasota is once again looked at as a great place to live. The cultural arts, recreation, boating, and activities seem to fit well with the lifestyle of buyers. The international market is surging for buyers looking at this area as well, look for my next REALTALK™ video that covers that subject.

Please contact me at (941) 387-1840 if you have a property to sell. I am building a good inventory of beachfront properties but like a variety so that I have the perfect home or condominium to show a potential buyer. Buyers can be aggressive if they can find the right fit for them. Here are four additions to my inventory this past week, from homes in Sarasota to condominiums on Longboat Key.

3440 Mistletoe Lane, Longboat Key $1,795,000 Video Photo Slideshow
7322 Westmoreland Drive, Sarasota $1,595,000   Photo Slideshow
7655 Donald Ross Rd, W., Sarasota $759,000 Video Photo Slideshow
1055 Gulf of Mexico Dr, #201 $699,000   Photo Slideshow

 

Build your dream home on these waterfront lots in Sarasota and Longboat Key

5861 Gulf of Mexico Drive, Longboat Key, Florida 34228 Vacant Lot
Buildable Lots - Video of beachfront land at 5861 Gulf of Mexico Drive on Longboat Key

Occasionally I get a request from a buyer for lots to build homes on, especially beachfront. We do have four properties that are classified as buildable lots so we created a web page, Buildable Lots with a link off the main menu. With these waterfront properties you can build your dream home. These are unique properties in that two are ready for construction, while others have homes on land that can be split into other lots. The owner of the island at Hawks Harbor has commissioned John Cannon Homes to create specs for your dream home on nearly two acres of island. The link below is for the lot without the specification home.

5861 Gulf of Mexico Drive $3,995,000 Video Photo Slideshow
125 Big Pass Lane, Sarasota $2,495,000 Video Photo Slideshow
7038 Hawks Harbor, Sarasota $1,990,000   Photo Slideshow
7322 Westmoreland, Sarasota $1,595,000   Photo Slideshow