Latest Market Report Shows a Continued Upward Trend


The latest data compiled from My Florida Regional Multiple Listing Service shows an increase for single family homes sales.  Compared to last year at this time, August 2017 figures showed an increase in closed sales, median home prices and inventory for Sarasota and Manatee counties.  While there have been some fluctuations month-to-month in closed sales this year, the total number through August 2017 still remain higher than the first 8 months of 2016.

Year-over-year, as the number of distress properties continues its decline, median prices continue to rise.  The median price for single family homes in Sarasota County rose 1.5% over August 2016 to $258,000 and more than 6% in Manatee County to $286,855.  

Although inventory is higher than it was at this time last year, the month’s supply of inventory has been on a slow decline since March 2017, remaining just under the threshold for a balanced market.  In Sarasota County, there was a 3.8 month supply of single family homes for sale, while Manatee dropped to a 4.1 month supply. Sarasota condos dropped to a 4.3 month supply, while Manatee is now at a 3.9 month supply.

In response to how Hurricane Irma will affect our market in the coming months, Xena Vallone, 2017 President of the Realtor® Association of Sarasota and Manatee stated that while several conditions can affect the timing of when the increased pending sales will convert into closed sales, right now there is no way to determine the true effects the hurricane will have on our market.  At present time, there have been some delays in closed sales due to financed transactions requiring either a re-inspection or the lift of the disaster designation.

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

If you have been considering buying or selling a home, contact me today!

Top 10 Homes Released by Clientele Luxury Magazine

Just Released by Clientele Luxury – the Top 10 Homes USA Fall 2017 Edition!
 

Top 10 Homes in the USA – Fall 2017
Clientele Luxury Magazine

Have a first look at the Top 10 Homes USA Fall Edition that will Premier in Barnes & Nobles Oct 3, 2017 and at several Luxury High Net Worth Events in October & November.
 
Click here to view the entire publication online.
 
I am proud to announce that my ‘Ohana listing located at 6633 Gulf of Mexico Drive on Longboat Key made this Top 10 list. Sitting upon 2.57 acres directly on the Gulf of Mexico, ‘Ohana is an island paradise. Nick Churton of Mayfair International Realty once described the peacefulness of ‘Ohana by stating, “If Zen could be described in the form of a building then this would be it. Whether the property is best expressed as a house or a small, intimate and very private southeast Asian inspired super-spa, Ohana has soul – lots of it.
 
If you have been considering a move to our beautiful area, contact me today!

Ohana on Longboat Key as Featured in Clientele Luxury Magazine’s Top 10 Homes in the USA – Fall Edition
Click to view the magazine.

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.

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.

2014 Sales – Another Year for the Record Books

rasm_logo

 

 

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.

How Luxury Real Estate Faired in 2014

Happy New Year!  I hope this finds you doing well and that your 2015 is off to a very good start.  Last year continued a very exciting trend for our region’s real estate industry, as homes continued to sell at a near-record pace for the second year in a row.

The luxury market for Sarasota and Manatee counties maintained a very steady pace with the number of sales slightly exceeding those of 2013.  While the majority of the 361 luxury sales in both counties were below the $2 million price point, the 36 luxury sales of single family homes priced at $3 million or higher showed a shift in where buyers purchased.  In 2013, the buyers’ hotspot was Longboat Key; but in 2014, Siesta Key led the pack with 15 sales (as well as the 3 highest sales in Sarasota and Manatee counties) and Casey Key finished strong with 6 sales above $3 million.     I am pleased to report that Michael Saunders & Company continues to be the proven leader in the $3 million+ luxury real estate market.  Below are the $3 million+ sales by location in 2014.  Out of the 36 single family home sales, Michael Saunders & Company agents represented 22 of the transactions on the listing side and 17 on the selling side.

ADDRESS
AREA
SOLD DATE
LIST
PRICE
SOLD
PRICE
HEATED
SF
LAND
SF
WATER FRONTAGE
 232 SEAGULL LN
BIRD KEY
4/11/2014
 $     6,950,000
 $     6,100,000
           7,873
         21,103
BAY
 647 MOURNING DOVE DR
BIRD KEY
6/16/2014
 $     4,500,000
 $     4,000,000
           5,286
         15,000
BAY
 447 MEADOW LARK DR
BIRD KEY
1/29/2014
 $     3,750,000
 $     3,400,000
           4,778
         15,000
BAY
 712 N CASEY KEY RD
CASEY KEY
9/25/2014
 $   10,000,000
 $     8,000,000
         13,553
         90,306
GULF-TO-BAY
 2505 CASEY KEY RD
CASEY KEY
10/23/2014
 $     7,400,000
 $     6,500,000
         12,908
         47,933
GULF-TO-BAY
 2016 CASEY KEY RD
CASEY KEY
8/29/2014
 $     6,900,000
 $     6,200,000
           7,781
         58,787
GULF-TO-BAY
 540 N CASEY KEY RD
CASEY KEY
8/29/2014
 $     4,050,000
 $     3,650,000
           4,494
         36,160
GULF-TO-BAY
 1700 CASEY KEY RD
CASEY KEY
6/30/2014
 $     3,300,000
 $     3,000,000
           4,172
         18,113
NONE
 805 CASEY KEY  RD
CASEY KEY
9/17/2014
 $     2,895,000
 $     3,025,000
           2,255
         22,680
GULF
 7422 PERIWINKLE DR
CORAL COVE
4/18/2014
 $     3,995,000
 $     3,480,000
           7,564
         17,813
BAY
 7406 PERIWINKLE DR
CORAL COVE
6/25/2014
 $     3,149,900
 $     3,200,000
           7,429
         16,914
BAY
 1540 HILLVIEW DR
HARBOR ACRES
7/29/2014
 $     5,250,000
 $     4,500,000
           7,074
         23,410
BAY
 1435 HILLVIEW DR
HARBOR ACRES
2/13/2014
 $     3,959,000
 $     3,650,000
           4,876
         36,466
NONE
 1436 JOHN RINGLING PKWY
LIDO
12/12/2014
 $     6,399,000
 $     5,725,000
           7,930
         17,237
BAY
 165 WHITTIER DR
LIDO BEACH
6/30/2014
 $     3,799,999
 $     3,496,000
           1,743
         33,750
GULF
 267 BENJAMIN FRANKLIN DR
LIDO BEACH
9/19/2014
 $     3,495,000
 $     3,000,000
           3,157
           6,728
GULF
 2735 GULF OF MEXICO DR
LONGBOAT KEY
11/5/2014
 $     5,995,000
 $     5,750,000
           7,550
         16,761
GULF
 640 ROUNTREE  DR
LONGBOAT KEY
9/26/2014
 $     3,500,000
 $     3,450,000
           5,121
         22,684
BAY
 6225 GULF OF MEXICO DR
LONGBOAT KEY
3/12/2014
 $     3,795,000
 $     3,250,000
           4,781
         36,000
GULF
 6133 MANASOTA KEY RD
MANASOTA KEY
9/19/2014
 $     3,495,000
 $     3,100,000
           6,621
         83,150
BAY
 1447 TANGIER  WAY
SAN REMO
12/16/2014
 $     4,595,000
 $     4,200,000
           5,040
         18,392
BAY
 7712 SANDERLING  RD
SIESTA KEY
10/20/2014
 $   11,850,000
 $  11,850,000
           4,715
         53,754
GULF
 8250 SANDERLING RD
SIESTA KEY
7/25/2014
 $   11,500,000
 $     8,850,000
           7,652
         66,969
GULF
 4300 HIGEL AVE
SIESTA KEY
5/29/2014
 $   10,975,000
 $  10,250,000
           8,623
         69,028
GULF
 6629 PEACOCK RD
SIESTA KEY
10/2/2014
 $     7,950,000
 $     6,344,633
         10,207
         43,747
BAY
 3466 GULFMEAD DR
SIESTA KEY
2/27/2014
 $     7,900,000
 $     7,070,000
           7,132
         26,659
GULF-TO-BAY
 636 BEACH RD
SIESTA KEY
10/22/2014
 $     4,950,000
 $     4,950,000
           4,163
         83,700
GULF
 156 GIVENS ST
SIESTA KEY
3/31/2014
 $     4,750,000
 $     4,250,000
           4,946
         11,951
GULF
 648 BEACH  RD
SIESTA KEY
12/31/2014
 $     4,481,400
 $     4,481,400
           4,746
           9,550
GULF
 684 FREELING DR
SIESTA KEY
5/29/2014
 $     4,395,000
 $     3,750,000
           9,398
         64,963
BAY
 778 SIESTA DR
SIESTA KEY
9/12/2014
 $     3,950,000
 $     3,600,000
           6,395
         20,870
BAY
 5309 HIDDEN HARBOR RD
SIESTA KEY
4/11/2014
 $     3,599,999
 $     3,350,000
           6,827
         18,339
BAY
 220 TENACITY LN
SIESTA KEY
9/30/2014
 $     3,500,000
 $     3,250,000
           3,467
         11,079
GULF
 7816 SANDERLING RD
SIESTA KEY
8/22/2014
 $     3,450,000
 $     3,050,000
           2,800
         34,926
GULF
 7102 POINT OF ROCKS CIR
SIESTA KEY
12/1/2014
 $     3,200,000
 $     3,200,000
           5,582
         15,000
NONE
 7101 POINT OF ROCKS CIR
SIESTA KEY
4/11/2014
 $     3,195,000
 $     3,000,000
           2,764
         22,529
GULF

What I find interesting is that the majority of these sales took place during the months that used to be known as the off-season (from mid-May through the end of October).

Casa al Mare – 2016 Casey Key Rd.  Sold on August 2014 Deborah represented the Seller

Casa al Mare – 2016 Casey Key Rd.
Sold in August 2014
Deborah represented the Seller

Villa de Napoli – 2505 Casey Key Rd.  Sold on October 2014 Deborah represented the Buyer & Seller

Villa de Napoli – 2505 Casey Key Rd.
Sold in October 2014
Deborah represented the Buyer & Seller

And finally, 2015 is already off to a good start with 135 homes available for sale that are listed at $3 million plus throughout Sarasota and Manatee counties; two of which are “active with contract” and 5 other homes that are pending.    With all the new construction underway from “west of trail” to downtown, to Lido Key to Longboat Key, Sarasota is certainly trending toward “modern” architecture in both condominiums and single family homes. The amount of building activity is a strong indicator of our area being on the radar of those who seek the lifestyle we enjoy. I see this trend continuing in 2015 and beyond.

Interested in selling your property, or perhaps buying another, contact Deborah Beacham for a complimentary comparative market analysis.

I will continue to keep you posted on sales activity in our beautiful area.  In the meantime, stay warm during our “Florida winter” and I wish you all a 2015 full of good health, happiness, peace, and prosperity.

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.

 

“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!

‘Ohana – What Makes this Retreat-Like Home so Unique?

PLEASE CLICK ON IMAGE FOR BROCHURE

‘Ohana on Longboat Key is this magnificent enclave of structures that lives a like a private retreat, taking full advantage of sun, surf and sand.  Living on Florida’s gulf coast, finding homes that “live like a retreat” and offer some of the most spectacular water and sunset views is not uncommon yet, there is not another gulf front property quite like ‘Ohana.  So what makes ‘Ohana so unique?

Everything about this home was done with meticulous consideration, from the carefully designed landscaping with over 60 varieties of palms and tropical plants to the hand-selected cypress pillars, Douglas fir beams and white oak flooring.  Unlike most homes in southwest Florida, ‘Ohana’s architectural influences did not come from the Florida Keys, the Caribbean, or even from the Mediterranean region, nor did it come from inside the pages of Modern Architecture, but instead found its inspiration in Balinese and coastal South African resort architecture, combining aesthetic principles, use of natural materials, and extraordinary craftsmanship.

Michael Saunders describes ‘Ohana as pure magic and there couldn’t be a better description as this home magically blends the expanse of more than 2.5 acres and over 9,000 square feet of total living space with the warm, cozy feeling of a true family home. Consisting of three pavilions, and a separate beach house, family members and guests alike can bask in privacy, but at the same time seclusion does not become the only option, as the pavilions are connected and lead to indoor and outdoor living spaces designed to host large gatherings and celebrate family togetherness.

Click below to see the full brochure on ‘Ohana.