Luxury Real Estate on Casey Key Surged in the Last 3 Months

casey key header

Here we are already in mid-November, ready to dive in head-first into the holiday season as many of our Casey Key neighbors are making their way back to our beautiful island paradise. This year has certainly been one of the busiest I can recall in recent years, with closings and pending sales surging in our area, even in the “off-season.” Just from August to October, the total sales volume for Casey Key exceeded that of the total sales volume from the first 7 months of 2014. The total sales through November 11, 2014 on Casey Key are 27 sales (including one private land transaction) with a sales volume exceeding $67 million, compared to 21 sales with a total sales volume just over $35 million for 2013.

Here is what has been happening on the key:

We have had a total 21 sales of single family residences and 5 vacant land sales. The homes that have sold are:

2014 CASEY KEY SINGLE FAMILY HOME SALES

ADDRESS

SOLD DATE

LIST PRICE

SOLD PRICE

LAND SF

HEATED SF

WATER FRONTAGE

1900 CASEY KEY RD

2/18/2014

$3,495,000

$2,940,000

135,036

3,502

GULF TO BAY

88 N CASEY KEY RD

2/18/2014

$1,695,000

$1,475,000

36,651

3,424

BAY

3920 CASEY KEY RD

3/13/2014

$1,450,000

$1,400,000

13,725

2,932

BAY

740 N CASEY KEY RD

4/15/2014

$2,749,000

$2,275,000

21,889

3,812

GULF TO BAY

508 S CASEY KEY RD

4/25/2014

$2,300,000

$2,043,000

33,443

2,342

GULF

621 CASEY KEY RD

5/16/2014

$2,295,000

$2,050,000

32,807

1,140

GULF

1166 CASEY KEY RD

6/2/2014

$1,790,000

$1,520,000

19,589

3,759

Non-Water

510 N CASEY KEY RD

6/30/2014

$2,250,000

$2,100,000

46,838

1,987

BAY

1700 CASEY KEY RD

6/30/2014

$3,300,000

$3,000,000

18,113

4,172

BAY

325 CASEY KEY RD

7/18/2014

$1,199,999

$1,199,999

13,636

892

GULF

507 S CASEY KEY RD

7/21/2014

$997,000

$ 967,500

16,759

1,456

BAY

430 CASEY KEY RD

8/27/2014

$2,950,000

$2,425,000

27,073

4,383

BAY

540 N CASEY KEY RD

8/29/2014

$4,050,000

$3,650,000

36,160

4,494

GULF TO BAY

2016 CASEY KEY RD

8/29/2014

$6,900,000

$6,200,000

58,787

7,781

GULF TO BAY

418 N CASEY KEY RD

9/10/2014

$1,950,000

$1,705,000

17,855

2,334

GULF TO BAY

321 CASEY KEY RD

9/12/2014

$1,299,000

$1,175,000

11,301

1,070

GULF

1156 CASEY KEY RD

9/16/2014

$1,100,000

$1,020,000

21,034

1,717

BAY

805 CASEY KEY RD

9/17/2014

$2,895,000

$3,025,000

22,680

2,255

GULF

412 S CASEY KEY RD

9/24/2014

$1,199,990

$ 750,000

16,271

3,983

GULF

712 N CASEY KEY RD

9/25/2014

$10,000,000

$8,000,000

90,306

13,553

GULF TO BAY

2505 CASEY KEY RD

10/23/2014

$7,400,000

$6,500,000

47,933

12,908

GULF TO BAY

 

2014 CASEY KEY VACANT LAND SALES

ADDRESS

SOLD DATE

LIST PRICE

SOLD PRICE

LAND SF

WATER FRONTAGE

4019 CASEY KEY RD

1/29/2014

$2,950,000

$2,500,000

44,429

GULF

3002 CASEY KEY RD

7/24/2014

$ 950,000

$ 950,000

19,210

3807 CASEY KEY RD

7/31/2014

$1,499,000

$1,395,000

18,300

GULF

0 GULF WINDS WAY

8/22/2014

$ 399,900

$ 375,000

46,389

2555 CASEY KEY RD

8/25/2014

$3,990,000

$3,550,000

117,892

GULF TO BAY

 

2014 CASEY SINGLE FAMILY HOMES PENDING

ADDRESS

LIST PRICE

LAND SF

HEATED SF

WATER FRONTAGE

418 CASEY KEY RD

$ 749,900

16,621

1,195

BAY

920 CASEY COVE DR

$ 870,000

8,664

2,705

BAY

710 CASEY KEY RD

$1,785,000

20,546

2,534

BAY

 

Notice that the 6 sales above the $3 million price point occurred between August and October. I am optimistic that this trend will continue into 2015.

Casa al Mare – 2016 Casey Key Rd.
Sold on August 29, 2014

2016

Deborah represented the Seller

Villa de Napoli – 2505 Casey Key Rd.
Sold on October 23, 2014

2505

Deborah represented the Buyer & Seller

And finally, as of this date, there are 61 waterfront homes available for sale that are listed at $5 million plus throughout Sarasota and Manatee counties; two of which are “active with contract;” one of these is located on the Gulf on Longboat Key (listed at $7.5m); the other is on John Ringling Parkway (listed at $6.399m). There have been ten sales this year above $5 million: one on Bird Key, one on Longboat Key, three on Casey Key, and five on Siesta Key, with the highest at $11.85 million for the property at 7712 Sanderling Road.

Have a wonderful Thanksgiving, and I will report again soon!

If you are interested in buying or selling property, please contact me for further details.

Just Listed: A “Paradise Found” at 1716 Casey Key Rd, Nokomis FL

"Paradise Found" on Casey Key

It is my pleasure to share with you my newest listing on Casey Key.  “Paradise Found,” located at 1716 Casey Key Road, is a delightful Gulf-to-Bay property that greets you with charm as soon as you enter through the gates and once inside, a dazzling view of Blackburn Bay welcomes you home.   This home is light, bright, and spacious while radiating a sincere warmth and sense of contentment.  The privacy of this residence encompasses approximately 140 feet of gulf frontage, approximately 130 feet of bay frontage, and a private setting on one of the best stretches of beach on Casey Key.  Enjoy swimming in the salt-system pool; boating and fishing; beachcombing and watching amazing sunsets on your tropical island paradise.

By far, the best value for a Gulf-to-Bay property on Casey Key, this home offers the unique opportunity to readily enjoy “as-is” or to build new.  With only 3 contiguous homes in a span of over 500 feet of gulf-to-bay frontage and no homes built on the gulf side in this long stretch of the key, you will have forever views from a newly built home; but either way you will join the many others who have called this 8-mile barrier island a “Paradise Found.”  This property is listed at $3,490,000.

Just Sold: Villa de Napoli on Casey Key

Villa de Napoli on Casey Key, Florida

Villa de Napoli on Casey Key, Florida

I’m pleased to report the sale of my listing, Villa de Napoli, on Casey Key which closed last week. This remarkable gulf-to-bay property with 100 feet of pristine Gulf of Mexico shoreline sold for $6.5 million and represents the seventh sale over $3 million on Casey Key this year; six of which have occurred only since August.

The buyers had been searching for a waterfront home and found the cultural amenities of Sarasota along with the tranquility of Casey Key to be the perfect blend that they were looking for.

Walton and I are happy to have them as neighbors and we look forward to sharing what we love about our paradise.

If you are interested in buying or selling property, please contact me for further details.

Significant Gulf-to-Bay Sale on Manasota Key

Spectacular view poolside at 779 N. Manasota Key Rd.

Spectacular view poolside at 779 N. Manasota Key Rd.

I am pleased to announce the sale of 779 N. Manasota Key Rd, which closed just last week and sold for $2.5 million. Referred to me by Casey Key neighbors, David & Jane searched up and down Manasota and Casey Keys for 5 months, looking for just the right home. This beautiful gulf-to-bay property on the north end of Manasota Key spoke to Jane’s soul and ended up being the perfect choice for them.

It was a great pleasure working with such a professional couple who are so much fun to be with as well. Walton and I look forward to continued good times with them and our mutual Casey Key friends.

If you are interested in buying or selling property, please contact me for further details.

For Strong Business Investment, Sarasota is putting Florida on the Map

HuB, the largest private co-work/incubator spaces in Florida

The HuB is the largest private provider of co-work/incubator spaces in Florida.

Recently, the “who’s who” of Florida business leaders visited Sarasota and learned that our beautiful community is more than just a pretty little beach town or just a place to go for fine dining and a night at the theatre. Sarasota County has officially blossomed as a vibrant business environment with a local economy that is reaching well beyond tourism and construction dollars and setting the pace for strong long-term growth. 

During a 2-day meeting, 65 board members of Enterprise Florida, Florida’s leading marketer for inbound business investment opportunities, convened and learned about a number of Southwest Florida’s business developments.  What they learned about Sarasota County pleasantly surprised them and it just may surprise you too.  Here are a few of the highlights:

  • Sarasota County is home to a large number of manufacturers including PGT, Tervis, L-3 Aviation Recorders, CAE Healthcare, Hoveround and Sun Hydraulics.  Having such strong presence in the manufacturing industry allowed for $300,000 in funding to go to the Sarasota County Technical Institute so that proper equipment could be purchased for their precision machining program.   

  • Another eye-opener for the board members was Sarasota County’s emerging life-science industry.  Three local companies Voalte, RPS and Lakewood Amadex received a combined total of $48 million in funding from private-equity firms for the continuation of life-saving work in research and technology.

  • Lastly, Sarasota County is home to the HuB, the largest provider of private co-work/incubator spaces in Florida.  While it is not a new concept, it is a growing trend that works well for freelancers, programmers, and budding business owners by offering them a “workplace” and a chance to network with other business professionals, while keeping their overhead costs manageable.  The HuB, located on Fruitville Road, recently expanded their facility to approximately 15,000 square feet.

All of this progress has put Florida on the radar screen for many significant business-investment projects and is encouraging  more globally competitive companies to consider moving to our state and possibly, to our region.  This in turn, will create more jobs, strengthen our local tax base and bring more support to local services – a true picture of a recovering economy and brighter days ahead for Sarasota County.

Just Sold: Casa Al Mare located at 2016 Casey Key Road

Casa al Mare:  Built in 2010, this Gulf to Bay property sold on August 29, 2014 for $6.2 million

Casa al Mare: Built in 2010, this Gulf to Bay property sold on August 29, 2014 for $6.2 million

I’m pleased to report the sale of my listing, Casa Al Mare, on Casey Key which closed on August 29, 2014. This gulf to bay property with its stunning classical Italian interiors in the 2010-built home, sold for $6.2 million.

After spending more than a year searching up and down Florida’s East Coast, and West Coast, the buyers arrived in Sarasota, and fell in love. Casey Key afforded them the privacy and natural beauty they sought, plus close proximity to Sarasota’s restaurants, cultural events, and easy fly in, fly out convenience. Walton and I look forward to having them as neighbors and sharing what we love about our paradise. The sellers are not leaving the area, so we will continue enjoying their company as well.

If you are interested in buying or selling property, please contact me for further details.

10 SW Florida Homes Ready to Make Your Beachfront Dreams a Reality

Ohana on Longboat Key:  Gulf-side pool and chiki hut overlooking the Gulf of Mexico.

Ohana on Longboat Key: Gulf-side pool and chiki hut overlooking the Gulf of Mexico.

Almost everyone, at one point or another, dreams of spending a relaxing day on the beach with a cool drink in hand and their toes in the sand.  For some, this may just be a dream of a vacation getaway, but for many, it is a dream of a blissful lifestyle.  Imagine walking out your front or back door and only a few steps away, having a beautiful stretch of beach that is all your own to enjoy every single day.

If having a beachfront home is your dream, Michael Saunders & Company just posted 10 homes that are ready to help you bring that dream to life and three of the homes on the list are my listings:  Ohana on Longboat Key and Villa de Napoli and Satori on Casey Key.

Set upon 2.57 pristine acres on the Gulf of Mexico, Ohana is truly a rare private retreat composed of an enclave of organic structures.  The home includes three pavilions that will make you feel like you are living in a Balinese luxury resort and provides enough space for you, your extended family and your guests.

Villa de Napoli:  Outdoor seating area, poolside

Villa de Napoli: Outdoor seating area, poolside


With 100 feet of water frontage on the Gulf of Mexico, Villa de Napoli is a resplendent gulf-to-bay residence on Casey Key that will “wow” you with its detailed finishes and its views. Built in 2003, this home has just about every amenity you can think of such as 5 generous en-suite bedrooms, a spa-like master suite, ample room for outdoor dining and entertaining, and 4 balconies facing the Gulf where you can watch and enjoy the sunset every evening.

Satori on Casey Key:  Gulf-side pool with the Gulf of Mexico just a few steps away.

Satori on Casey Key: Gulf-side pool with the Gulf of Mexico just a few steps away.

And last but not least, Satori on Casey Key, which also offers 100 feet of water frontage on the Gulf of Mexico is a beautifully appointed, contemporary home that was newly constructed in 2012-2013.  This smart house combined with a design that was meant to fill the home with natural light allows you to create the perfect ambiance.  The amazing gulf-side pool, which is wrapped by terraces and Zen-like gardens creates an atmosphere that is perfect for gracious entertaining or just relaxing in a tropical paradise.

Click here to see the other seven homes that made Michael Saunders’ list of “10 Dreamy Beachfront Homes.”

If you are interested in buying or selling property, please contact me for further details.

 

“All the numbers point to a very healthy 2014 for Sarasota County real estate.”

 

July has always been known as a quiet “Florida month” and is when the real estate market typically sees a little bit of a lull.  Even though the number of residential sales, according to the Sarasota Association of Realtors® was down 11.4% from the previous month, I would have to say a total of 928 closed residential real estate transactions along with another 834 sales pending for the month of July is still a pretty busy ”lull.”  I can personally attest to July not being much of a “slow” month, as I counted 19 showings in eleven days.

Sarasota Association of Realtors president, Peter Crowley states that “all the numbers point to a very healthy 2014 for Sarasota County real estate,” and he was not only speaking about the total number of sales for the first 7 months of 2014; which is still ahead of last year’s near record sales pace.  He is also referring to the fact that for the first time in 6 years, the median sales price for single family homes and condominiums has surpassed the $200,000 price point; with single family homes at $201,000 and condominiums at $205,000.

Additionally, inventory levels dropped below 4,000 in July 2014 to 3,912 compared to last July when inventory stood at only 3,747, which was the low point in the recent market.  What low inventory and rising median sales prices translates to is that we still remain in a seller’s market.

With the number of increased showings I have and continue to experience even into mid-August, I have no doubt that 2014 will be another prosperous year for the record books!

If you are interested in buying or selling property, please contact me for further details.

“People want to come to Sarasota, now more than ever!”

June2014SARStatLast year was an historic year for property sales in Sarasota County, but 2014 is shaping up to be record-book worthy as well.  The first six months of 2014 posted the second highest number of residential sales in the Association’s 91-year history, averaging nearly 1,000 sales per month at a total of 5,956.  June is the fourth month in a row with over 1,000 residential sales topping out at 1,048 sales.

Adding to June’s high number of sales is the increase of the median sales figures for both condos and single family homes.  Since 2013, condos and single family homes are equaled and the median sales prices sits at $195,000, which is substantially ahead of last year’s figures and is indicative of a strong rebound for our region’s real estate market.

June is typically when we see a significant slow-down of traffic and in business, but so far this summer that has not been the trend, especially for real estate.  Peter Crowley, Sarasota Association of Realtors President states, “We are continuing to see heavy foot traffic at open houses and at brokerages across the county.”  Even the decrease in road traffic seems to be minimal and some are even reporting that there seems to be an unusually high number of visitors this summer.  According to Peter Crowley, “People want to come to Sarasota, now more than ever.”

Inventory levels dropped again in June 2014 to 4,196 from May’s figure of 4,513, a fairly significant one month decline of 7 percent . Last June , inventory stood at only 3,758 homes and condos for sale in the county.  The low point in the recent market was in July 2013 at 3,747, far lower than the current level. The month’s supply of inventory stood at 4.6 for single family and 4.2 for condos. Last month, those figures were 5.0 and 4.6 respectively, and last year at this time they were 4.2 and 4.3, respectively.

With the number of increased showings I am experiencing, and buyers settling into a real “buy” mode, I am confident the remainder of the year will continue to see good results and properties changing hands.

If you are interested in buying or selling property, please contact me for further details.

An Active Summer on Casey Key

 

Direct beach front, just outside your door.

Backyard view of 321 Casey Key Road.

Hard to believe we are in mid-July already. Most of the Casey Key homeowners are probably enjoying their summer homes elsewhere. Meanwhile, we are having an active summer of closings and pending sales on the Key. Here’s what’s happening:

So far in 2014, we have had 9 sales of single family residences, and one vacant land sale. The homes that have sold are:

2014 CASEY KEY SINGLE FAMILY HOME SALES

ADDRESS

SOLD
DATE

LIST
PRICE

SOLD
PRICE

LAND
SF

HEATED
SF

WATER
FRONTAGE

88 N CASEY KEY RD

2/18/2014

$1,695,000

$1,475,000

36,651

3,424

BAY

3920 CASEY KEY RD

3/13/2014

$1,450,000  

$1,400,000

13,725

2,932

BAY

740 N CASEY KEY RD

4/15/2014

$2,749,000  

$2,275,000

21,889

3,812

GULF TO BAY

508 S CASEY KEY RD

4/25/2014

$2,300,000  

$2,043,000

33,443

2,342

GULF

621 CASEY KEY RD

5/16/2014

$2,295,000  

$2,050,000

32,807

1,140

GULF

1166 CASEY KEY RD

6/2/2014

$1,790,000  

$1,520,000

19,589

3,759

Non-Water 

510 N CASEY KEY RD

6/30/2014

$2,250,000  

$2,100,000

46,838

1,987

BAY

1700 CASEY KEY RD

6/30/2014

$3,300,000  

$3,000,000

18,113

4,172

GULF TO BAY 

1900 CASEY KEY RD

2/18/2014

$3,495,000  

$2,940,000

135,036

3,502

GULF TO BAY

 

2014 CASEY KEY VACANT LAND SALES

ADDRESS

SOLD
DATE

LIST
PRICE

SOLD
PRICE

LAND
SF

WATER
FRONTAGE

4019 CASEY KEY RD

1/29/2014

$2,950,000

$2,500,000

44,429

GULF

 

2014 CASEY SINGLE FAMILY HOMES PENDING

ADDRESS

LIST
PRICE

LAND
SF

HEATED
SF

WATER
FRONTAGE

507 S CASEY KEY RD

$997,000

16,759

1,456

BAY

412 S CASEY KEY RD

$1,199,990

16,271

3,983

GULF

325 CASEY KEY RD

$1,199,999

13,636

892

GULF

321 CASEY KEY RD

$1,299,000

11,301

1,070

GULF

805 CASEY KEY RD

$2,895,000

22,680

2,255

GULF

920 CASEY COVE

$899,000

8,664

2,705

BAY

2014 CASEY SINGLE FAMILY HOMES “ACTIVE WITH CONTRACT”

1156 CASEY KEY RD

$1,100,000

21,034

1,717

BAY

540 N CASEY KEY RD

$4,050,000

36,160

4,494

BAY


What you will notice is that all of these sales are $3 million and below with only one “active with contract” property above $ 4 million at this time. That being said, I am very optimistic that before year end we will see some of the higher end properties selling. Showing activity has been picking up recently that I am aware of, and I remain super optimistic. Stay tuned.

As you drive the key, you’ll notice the various stages of construction going on. One of these is a spec home at 3801 Casey Key, getting almost close to being complete. The vacant gulf side lot at 3807 Casey Key, on the market for years, is now under contract, so we should be seeing signs of construction there in the near future. The gulf side lot in the 3900 block adjacent to Gulf Surf Resort, is now under construction. The unique modern home at 3258 Casey Key is getting close to completion.  I think we were all pleased to see the cyclone fence installed at the vacant gulf front lot near Blackburn Point and Casey Key Road, now preventing the parking lot that it had turned into. A Carl Abbott designed home is planned for that parcel spanning 290 feet on the Gulf of Mexico.

Now, let’s review what’s going on elsewhere. At a recent Michael Saunders & Company sales meeting, we heard a representative from Benderson Development discuss a handful of commercial shopping center projects underway they have been holding onto for several years. The time is ripe for developing these and the good news for Casey Key residents is that the one located at Blackburn Point and US 41 is slated for full speed ahead on the remodeling front. Although he would not say specifically, it was mentioned that a grocery store is planned for the center. You probably know that Richard’s Food Emporium reopened there a few months ago and expanded its offerings.

And what about the new condominium developments in downtown Sarasota, Lido Key and Longboat Key? Those areas have been lacking “new development” for some time now. There will soon be some great looking modern buildings to choose from:  Vue Sarasota Bay (Gulfstream and US 41 intersection); Sansara (near Burns Court) The Jewel (Main Street–sold out), One 88 (Golden Gate Point), Aqua (Golden Gate Point) is said to be back on track after a zoning hurdle; Aria and Infinity (on Longboat Key), and finally Park Residences of Lido Key. If you would like additional information on any of these condominiums, please contact me for details as reservations are limited for some of them.

And finally, as of this date, there are 53 homes available for sale listed at $5 million plus throughout Sarasota and Manatee counties; three are “active with contract” and there have been 3 sales this year above $5 million:  one on Bird Key, and two on Siesta Key, with the highest at $10.25 million for the property at 4300 Higel Avenue.

Have a great rest of the summer and I’ll report again soon!