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.

The Higher End of Casey Key’s Luxury Market Continues to Make Significant Strides

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Luxury Market Update

It is hard to believe that we are already half way through 2015!  What a busy year it has been thus far and Casey Key’s real estate market is still on track to meet or exceed 2014’s sales figures.  Year to date, we have had 12 single family homes sales and 2 vacant land sales on the key, which is slightly higher than 2014 for the same time period.

However, this year, the higher end of the market continues to make significant strides.  During this same time period in 2014, Casey Key home sale prices ranged from $1.4 million to $2.94 million.  Sale prices for 2015 YTD range from $860,000 to just over $5.3 million, with 4 of the 12 sales being above $4 million and 1 more single family home pending sale with a list price above $5.5 million.  Even vacant land is seeing large numbers, with one gulf to bay parcel selling at full price, $3.7 million to a developer.  

2015 CASEY KEY SINGLE FAMILY HOME SALES YTD

ADDRESS

SOLD DATE

LIST PRICE

SOLD PRICE

LAND SF

HEATED SF

WATER FRONTAGE

709 CASEY KEY RD

1/30/2015

$2,795,000

$2,675,000

23,972

5,062

GULF

1716 CASEY KEY RD

1/30/2015

$3,490,000

$3,150,000

42,615

2,370

GULF-TO-BAY

2110 CASEY KEY RD

2/19/2015

$5,900,000

$4,800,000*

34,735

5,816

GULF-TO-BAY

703 CASEY KEY RD

4/15/2015

$5,750,000

$5,300,000

33,966

4,648

GULF + BAY PARCEL

1624 CASEY KEY RD

  5/1/2015

$1,675,000

$1,520,000

  9,841

2,353

GULF-TO-BAY

721 CASEY KEY RD

  5/1/2015

$4,999,999

$4,300,000

24,781

4,828

GULF

141 N. CASEY KEY RD

  5/5/2015

$2,499,000

$2,175,000

18,068

2,260

GULF

927 CASEY COVE DR

5/29/2015

$3,390,000

$2,900,000

11,926

5,515

BAY

2502 CASEY KEY RD

6/1/2015

$1,350,000

$1,075,000

10,125

2,202

BAY

920 CASEY COVE DR**

7/2/2015

$   925,000

$   860,000

8,664

2,705

NONE

3601 CASEY KEY RD

7/2/2015

$6,245,000

$5,392,500

35,650

6,991

GULF

606 S. CASEY KEY RD

7/17/2015

$2,995,000

$2,625,000

50,530

4,479

GULF-TO-BAY

*Recorded sales price according to Sarasota Clerk of Court public records.
**Property was REO/Bank-owned

2015 CASEY KEY VACANT LAND SALES

ADDRESS

SOLD DATE

LIST PRICE

SOLD PRICE

LAND SF

WATER
FRONTAGE

FRONT FOOTAGE

S. CASEY KEY RD
(600 BLOCK)

4/23/2015

$   695,000

$   650,000

21,379

BAY

97’

728 N. CASEY KEY RD

6/12/2015

$4,950,000

$3,700,000

65,143

GULF-TO-BAY

151’

Additionally, there are 2 homes that are Active with Contract and 2 other homes with sales currently pending.

2015 CASEY KEY SINGLE FAMILY HOMES UNDER CONTRACT OR PENDING

STATUS

ADDRESS

LIST PRICE

LAND SF

HEATED SF

WATER FRONTAGE

PENDING

13 N. CASEY KEY RD

$2,499,999

34,750

2,354

GULF-TO-BAY

PENDING

904 CASEY COVE DR

$3,125,000

19,735

4,600

BAY

PENDING

507 CASEY KEY RD

$5,995,000

31,235

6,861

GULF

 

MY NEWEST LISTINGS– CALL ME FOR A SHOWING

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1120 North Casey Key Road

Get ready to be charmed by this north Casey Key gulf to bay property with two homes brimming with character and breathtaking views of both the Gulf of Mexico and Little Sarasota Bay.  First, we have an “Old Florida” freshly updated beach cottage with one bedroom and one bath, making it the perfect guest quarters. The second home sits at the bay side of the property with two ensuite bedrooms, double living areas and has been lovingly updated.

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1143 Casey Key Road – New Listing Will Be in MLS in August

Welcome to “Casa de las Olas”, House of the Waves, one of the largest, direct beachfront gated estates on Casey Key. With 147 ft. of frontage on the Gulf of Mexico, this exquisite Mediterranean masterpiece transports you to an oasis of coastal elegance from the moment of arrival. Designed by renowned architect Clifford Scholz, and built to precise standards by Perrone Construction, the principal home features over 6,600 sq. ft. of air conditioned living space and is graciously separated from the tropical guest house overlooking the stunning pool/outdoor kitchen area.

I want to stress that inventory is at an all-time low on the key, and with buyers here looking and purchasing, the lack of inventory continues to be challenging. If you are thinking about selling your property, contact Deborah Beacham for a complimentary comparative market analysis.

I will continue to keep you posted on sales activity in our beautiful area and I look forward to seeing you on and around the key.  

Warm regards,

 DB Signature (2)

 

Employment Growth Leads to Surge in Real Estate

The Realtor® Association of Sarasota and Manatee has released the sales numbers for May, and what has been said for months now still rings true: 2015 is on track to be another record-breaking year!

SAR_May2015Total reported residential sales in May for Sarasota county stood at 1,182; which is only 42 sales less than the all-time monthly record and Manatee county’s sales for May are at 827, which is a 10% increase over last year.

MAR_May2015Along with sales trending at historically high levels for both counties, the median sales price has steadily been on the rise. May 2015’s median sales price for Sarasota county is up 20% from last year and up 14.3% for Manatee county.

As sales and median prices continue to increase, so too has the demand, causing a decrease in inventory and in the length of time homes are remaining on the market.  Based upon this market statistic, sellers remain in command.

This continued upward trend in real estate sales may have some worrying about another “housing bubble;” however, the Chief Economist for Realtor.com, Jonathan Smoke recently reported that the housing market is on track to have its best year since 2006, but unlike 2006, there is no evidence of a “bubble.” Smoke states that it is job growth that is fueling this housing surge; citing that more than 3 million jobs have been created in the past 12 months; with more than 1 million of those jobs having been created for 25- to 34-year-olds, the age range at which most Americans buy their first home.

Association president, Stafford Starcher says, ““Once again, the market statistics are clearly showing the strength and vitality of Sarasota and Manatee counties.  We are living in a golden era for local real estate, and the future continues to look bright.”

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 ~ 1120 North Casey Key Road

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1120 N. Casey Key Road

It is my pleasure to share with you my newest listing located at 1120 North Casey Key Road, Osprey Florida.  Experience a rare taste of “Old Florida” charm on North Casey Key with this gulf-to-bay property with two homes, each brimming with its own unique character.

On the bay side is a lovingly updated home with two ensuite bedrooms, double living areas and immaculate cypress flooring throughout.  On the gulf side sits a freshly updated “Beach House” with one bedroom and one bath, making it a perfect getaway for your guests.

001 - CopyEach home is light and bright with picture windows bringing the breathtaking water views indoors as magnificent seascape artwork.

If you are looking to fill your days with private walks along the gulf shore or out on on the serene waters of Little Sarasota Bay, this location is ideal while still being only minutes away from enjoying the quaint walking town of Venice or the cultural mecca of downtown Sarasota.

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 now listed at $2,100,000.  Contact Deborah for a personal property viewing.

2015 Sarasota & Manatee Residential Sales Already Outpacing 2014

rasm_logoThe Realtor® Association of Sarasota and Manatee just released February’s closed and pending sales and it appears that Sarasota and Manatee county real estate is already outpacing the record number of sales for this same time period in 2014.

In short, Sarasota’s 837 total closed residential sales are up 12.3% from 2014 and Manatee’s 593 total closed residential sales are up 6.1%, and pending sales for both counties are ahead of last year’s figures and show no sign of a slow down in sales.

Additionally, the median sales price remains strong and substantially above last year’s figures. In Sarasota County, the median price for single family homes was at $196,000, which is 6% higher than last February; and for condos, the median price was at $187,500, up 10.3% from last year.  Manatee County single family homes rose to a median sale price of $256,750, up 16.7% over last February’s figure of $220,000, while condos were at $152,000, which is a 12.6% increase.

Closed Sales for Sarasota & Manatee Counties

Closed Sales for Sarasota & Manatee Counties – February 2015

Association President Stafford Starcher states, “Properties in the two counties are selling at a high pace and prices are on the rise, which tells us we are experiencing a healthy, vibrant market.  The inventory totals have leveled off, which means we could see even higher prices going forward, based on the laws of supply and demand.”  He further adds, that this is a great time to put your property on the market with a Realtor® and “test the water.”

Click here to read the full report.

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

1216 Casey Key Road, Nokomis FL Just Listed

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It is my pleasure to share with you my newest listing on Casey Key, “Paradise Point,” located at 1216 Casey Key Road. The setting of this bayside home is so picture perfect, you will feel as though it was taken right out of a coastal living magazine and the overall design was certainly made for carefree living and easy entertaining.

This home is light, bright, and spacious and a recent remodel included an expansion of the living area to incorporate an outdoor living/dining room, which, if you choose, can be enclosed with the electronic roll-down screening. If the mood calls for poolside entertaining, gather near the heated pool where there is ample seating and a fully equipped outdoor kitchen to keep your guests happy. When you are looking for a little quiet time, let the circular staircase lead you to the widow’s watch where you can sit, relax and take in the beauty of the bay and gulf views. The boating and/or fishing enthusiast will enjoy the covered boat dock and lift; and when you are ready to put your toes in the sand, there is deeded beach access to one of the widest beaches on Casey Key.  All that is left to complete this picture is for you to make Casey Key and “Paradise Point” your next home.  This property is listed at $2,525,000.

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

2014 Sales – Another Year for the Record Books

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The Realtor® Association of Sarasota and Manatee counties just released the sales numbers for all of 2014 and what an incredible year of real estate for both counties!!

Manatee county missed beating the 2013 annual record for sales by only 28 transactions and Sarasota county finished out the year with a total of 11,550 transactions, breaking the all-time record of 11,482 sales, which was set back in 2004.

“Sarasota and Manatee counties have never seen this level of combined sales activity, which actually surpassed the 2004-2005 boom years of a decade ago,” stated Association president, Stafford Starcher.  He went on to add that the steady rise of home prices doesn’t seem to be hampering sales and therefore, believes we can expect to see home sales continue to soar in 2015.

Click here to read the full report.

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