Median Sale Prices and Inventory Continue to Rise

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The Realtor® Association of Sarasota and Manatee recently released the regional sales numbers for the month of July and while the number of residential sales substantially differ from the record numbers we saw in 2015, Sarasota and Manatee counties are starting to see a more normalizing trend as median sale prices and inventory continue to climb.

Over the past year, Manatee County increased in sales from 2015, with a 0.7 percent increase in single family homes and an 11.5 percent increase in condos, but by contrast, Sarasota County sales are more than 20 percent down for both single family homes and condos.  Additionally, in 2015 pending sales remained very strong through August, but this year, we saw significant slow-down in pending sales as early as May.  In July, records showed that pending sales are 18.5 percent lower than last year for Sarasota and Manatee counties.

However, median sale prices for single family homes in Sarasota County are up 10.5 percent from 2015 to $242,500, while Manatee County experienced an 11.7 percent jump from 2015 to $279,250. Year over year, condo median sales prices rose 7.9 percent from 2015 to $205,000 in Sarasota and 21.9 percent to $185,250 in Manatee.

Inventory is steadily rising as well with single family homes in Manatee and Sarasota each showing a 19.5 percent increase from July 2015, which equates to over 4 month’s supply of inventory.

“July marks the seventh month this year where pending sales are down. This is also the sixth month where listing inventory has been higher than the same period last year. It’s reasonable to expect that the prices will adjust to the slowing demand,” says Linda Formella, 2016 President of the Realtor® Association of Sarasota and Manatee.

Click here to read the full report from the Realtor Association of Sarasota and Manatee.

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

Is a Quality Healthcare System on Your List of Criteria?

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There are many factors to consider when considering a move to Florida.  For many, the sun, sand and surf will be at the top of the list of criteria, as would the cultural amenities of the area.  However, for others who are looking to move to Florida based on more everyday and practical criteria, the quality of the area’s healthcare system may be high on that list as well.

Recently, the Centers for Medicare & Medicaid Services (CMS) evaluated over 4,500 eligible hospitals in the nation for overall quality and safety, based on the performance level on a range of inpatient and outpatient measures. Only 2.2% (or 102) of those hospitals received a 5-star rating; and of those 102 hospitals, only 2 of them are located in Florida; the first being the Mayo Clinic in Jacksonville and the other being Sarasota Memorial Hospital.

But the accolades do not stop there!

A few days later, the U.S. News’ 2016-17 “Best Hospitals” ranked Sarasota Memorial Hospital in the top 10 for the state of Florida and cited Sarasota Memorial Hospital as being one of only 63 hospitals nationwide to earn “high performing” ratings in all nine inpatient surgical procedures and chronic conditions evaluated.

In early July, the Florida Department of Health notified Sarasota Memorial Hospital that it now qualifies as a Level II Trauma Center, making it only one of 31 hospitals statewide to have this designation.  Such a designation means that critically injured patients in Sarasota County can now be treated locally rather than be transported to another trauma center in another community.

As a community, we could not be more proud of SMHC’s dedicated staff, nurses and physicians and their commitment to providing their patients with optimal care.

If you are considering a move to Southwest Florida, contact me today!

Home Building and New Construction Jobs: Both on the Rise in Southwest Florida.

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The Sarasota Herald Tribune reported that home building is booming in Southwest Florida with permits in Sarasota-Manatee increasing 65% from last year. However, some residential builders have expressed their concerns, stating that the availability of qualified skilled labor workers is becoming less while the demand for workers continues to rise.

It’s a huge daily challenge, no question about it,” said Michael Storey, president of Neal Communities, the region’s largest locally based home builder. “And it’s not only a quantity issue, it’s a quality issue as well. Finding skilled workers makes the equation even more difficult.

See more on this story at:  Construction companies struggle to find enough skilled workers

Michael Saunders & Company Ranked #1 in Sarasota County in 2015

Michael.Drayton.HeadshotRealTrends recently released its 2015 statistics for real estate brokerages in Sarasota County and Michael Saunders & Company ranked at the top of the list.  Saunders had 3,378 residential transaction sides (representing either the seller or the buyer), with a volume of $1.566 billion. It represented the seller in 1,664 sales and the buyer in 1,714 sides.

We are so proud to share our company’s accomplishments and could not be more proud to work with our amazing team of professionals under the awesome leadership of Michael and Drayton Saunders.

Click here to read the full report from the Sarasota Herald Tribune.

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

2613 Casey Key Rd, Nokomis FL For Sale

Welcome to Heron Hill, my newest listing on Casey Key, an exquisite Gulf to Bay estate situated on 1.6 acres of prime beachfront on this exclusive 8-mile barrier island located between Siesta Key and the island of Venice, Florida.

Completely renovated in 2008, the Clifford Scholz designed remodel takes full advantage of the approximate 17-foot elevation to reveal magnificent, unobstructed Gulf and Bay views and the best of a coastal lifestyle.

At the front of the property is a private tennis court overlooking Blackburn Bay, with a walkway that leads to the front of the expansive home.  When you walk through the front door, your eyes are met with reminders of the exceptional detail that went into creating this home, from the grand lounge that is lined with French doors, giving you a sneak peek of the crisp Gulf waters that await you to the pecky cypress beams in the impressive kitchen that would delight the most discerning chef.  On the second level, discover a luxurious master retreat complete with a spa-inspired bath and another wall of French doors that open up to your own private Gulf front terrace.

The highly sought after amenities of coastal living are accomplished with finesse to complete this home, including a sweeping Gulf-front outdoor lounge with open-air swimming pool, summer kitchen and verdant rolling lawn leading to the beach.

This property is listed at $8,750,000.  Contact Deborah for a personal property viewing.

Sarasota Ranks in the Top 10 for Most Tax-Friendly City

While tax day is a one-day event for many people, for small business owners, taxes are a year-round, top-of-mind topic. With April 15th just around the corner, Thumbtack.com released its analysis of its annual Small Business Friendliness survey, which ranks U.S. cities specifically on their tax friendliness toward small businesses.  Out of 96 cities, surveying nearly 18,000 small business owners, Sarasota came in at #7!

Thumbtack-MostTaxFriendlyCities-602x1024Three factors are taken into account (no pun intended) when ranking each city:  (1) the overall tax friendliness, (2) ease of understanding and filing taxes, and (3) the perceived fairness of local tax rates. Texas, Florida, and Michigan each had multiple cities in the Top 10, while California seemed to dominate the opposite end of the spectrum. Additionally, while some may perceive that Florida made the list only because we do not have state income tax and therefore, business owners pay less taxes, the survey actually revealed that the perception of small business friendliness is influenced more by how easy it is to comply with tax laws and less by the overall rate of taxation.

So if you are thinking about relocating and starting your own small business, Sarasota just may be the right choice not only for all of its beauty and cultural offerings, but also for turning the dreaded topic of taxes into a more friendly experience.

 

 

 

Signs of a Healthy Market: 2015 Hits an All-Time Record in Real Estate

Dec2015_StatsThe numbers are in and it’s official!  2015 closed out the year with an all-time record of 20,691 in combined closed residential transactions, which is 1,302 sales above last year’s numbers.

Additionally, median sale prices have increased across the board.  Single family home prices rose 22%  in Sarasota County to $239,900 and nearly 12% to $262,963 in Manatee County, and condo sales rose 22% Sarasota County and 6% in Manatee County to $217,000 and $178,249 respectively.

Another sign that our market has become healthier is the drop in the percentage of distressed sales. Distressed sales for single family homes were down 49% from last year in Sarasota County and 46% down in Manatee County.  In December, there were only 195 distressed sales reported in the two counties, which is just under 12% of all reported residential sales and certainly, a significant drop from the peak of 48% from just a few years ago.  Dec2015_Stats_Manatee

New Pending sales were down 11.3% for single family homes and remained unchanged for condo sales year over year.  The declining inventory is likely to be the cause of the decline in new pending sales, as buyers face the challenges of not only finding the right property but also the probability of competing in multiple-offer situations. Inventory of available properties continues to decline for both counties and the two-county area saw the month’s supply of inventory remain just below the 4-month level.

Nevertheless, referring to the historic year in residential sales for our two-county area, RASM President, Linda Formella credits the hard work and dedication of our area’s professional Realtors® as well as the many industries that support the real estate community.  She states that more people are eager to be part of this southwest Florida paradise in which we live and work and looks forward to a healthy year of steady growth in 2016.

Click here to read the full report from the Realtor Association of Sarasota and Manatee.

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

Just Listed – Jasmine by the Bay at 420 North Casey Key

I am pleased to announce my newest listing on North Casey Key, a highly coveted neighborhood known for its privacy and unobstructed water views. Jasmine by the Bay, located at 420 N. Casey Key Road in Osprey, Florida is a home that is full of quality and craftsmanship and was designed with the ease of living in mind and features every imaginable function for the active family that loves to entertain.

The moment you walk through the front door, walls of glass immediately draw your eye to a stunning view of Little Sarasota Bay.  As you move further into the home on this first level, you notice the spaciousness and sophistication of the music room that leads to the gracious living room.  Once in the living room, the cypress ceilings and walls combined with the stone flooring and hearth give you the warm feel of a private cabin retreat, and this is where you can sit and relax and take in the bay and garden views up close.  Waiting for you just beyond the walls of glass is the heated salt-system pool and spa, the trex covered dock and a separate pool house with a full bath that could be used as an additional bedroom.

Tucked away on either side of the music and living rooms are three large guest ensuites, two of which could easily work as a second master suite.   Walk down the north hall and you will find a mirrored exercise room with a steam shower, a conditioned wine storage room big enough to accommodate approximately 350 bottles, and a caretaker’s suite with its own separate entrance.

Take the stairs or the elevator to the second level, where you will find an elegant sitting area and formal dining room.  Beyond that is the kitchen fit for the master chef in your life that opens up the expansive family room, making it a perfect combined space that is ideal for entertaining.  Just off the kitchen is a screened-in patio with an outdoor kitchen for a casual dining experience. The separate office has wonderful bay views as well.  At the end of the day, retire comfortably in the master suite complete with his and her separate baths.

This property is listed at $4,750,000.  Contact Deborah for a personal property viewing.

Just Listed ~ “Hedekin Point” on Casey Key – 3780 Cutlass Bayou

_1440809-srq360-1152x768 (580x387)I am pleased to announce my newest listing on Casey Key, “Hedekin Point” located at 3780 Cutlass Bayou located on Casey Key in Nokomis, Florida.  This Edward Seibert-designed home is privately situated right at the “point” of Cutlass Bayou, offering the most spectacular views of the Intracoastal waterway.

Nature envelopes this property as it is surrounded by a canal on the north side, a bank of trees with winding pathways to the south side’s canal, and then opens up to the magnificent bay views.  As you near the water, you will also find a quaint and inviting tiki hut where you can relax with a cool beverage and dream of the endless possibilities. There is simply no other property on the key with this much privacy and feeling of “getting away from it all.”

In addition to the main living quarters, there is also a separate artist’s studio and a separate guest suite.  With over 1,000 feet of waterfront and deeded access to a wide beach, the sky is the limit for either remodeling the existing structure or using this remarkable piece of land to build your dream home complete with 360 degree water views because there simply is nothing to match this privacy on Casey Key.  This property is listed at $2,300,000.  Contact Deborah for a personal property viewing.

Just Listed – Casa de Las Olas | 1143 Casey Key Road

094I am pleased to introduce my newest listing on Casey Key, Casa de las Olas or “House of the Waves” located at 1143 Casey Key Road in Nokomis, Florida.  Situated on over an acre of luxurious land with 147 feet of Gulf frontage, this magnificent home is one of the largest direct beachfront gated estates on Casey Key.

Designed by renowned architect Clifford Scholz and built to precise standards by Perrone Construction, this estate offers a perfect blend of authentic architecture from past history and the modern amenities of today’s smart home.  Dramatic gulf and garden views envelope the home with a sense of tranquility and with the numerous outdoor gathering spaces, this is the where family and friends will want to come to relax and breathe in the salt air.

With fewer than 400 single family homes on this 8 mile barrier island, Casey Key is a gem you don’t want to miss.  This property is listed at $7,990,000.  Contact Deborah for a personal property viewing.