1199 Westway Drive, Sarasota, FL | Westway on Lido Shores

SELLER SAYS “BRING OFFERS!”

Welcome to a spectacular gated estate with commanding views of New Pass and the Gulf of Mexico located on the highly coveted Westway Drive, where you will find some of Sarasota’s most valuable real estate. Upon entering the residence through the leaded glass double doors, the astounding view of the warm azure Gulf waters takes your breath away. You are greeted by a warm décor complimented by exquisite wood flooring, and an open floor plan inviting you to relax and enjoy family and friends. Fine details include custom wood doors throughout, beautiful custom cabinetry in the kitchen, a gulf front terrace from the master suite with a large walk in closet, and amazing spa like bath. The residence features 4 bedrooms, 5.5 baths, an office, an exercise room, two fireplaces, a wine room storing 700+ bottles, and for the car enthusiast, enough garage space for 9 vehicles. Enjoy relaxing by the heated elevated pool, putting your toes in your own little sandy beach, fishing from the dock, while taking in the dolphins, and watching spectacular sunsets. A beautiful life awaits you in Sarasota–where you can enjoy the vibrant arts community and cultural amenities of downtown Sarasota, boutique shopping and dining at St. Armand’s, and be only minutes away from Sarasota international airport.

Property Details

Listing Price: $7,300,000 (NEW PRICE)
Address: 1199 Westway Drive
City: Sarasota
State: FL
MLS # A4177457
Square Feet: 5,640
Bedrooms: 4
Bathrooms: 5.5

Additional Photos

Property Map


 

For more information about this property, contact me at 941.376.2688, email me or use the short form below.

* indicates required field

When Buying a House, What is a Must-Have for You?

Luxury Portfolio International recently conducted a survey to find out what the wealthy look for in a home.  For some it may be the waterfront views, while others are looking for a gourmet kitchen fit for the top chef in the family. However, this survey revealed that ample privacy, a Master bedroom with an en suite bathroom, and energy efficiency and environmental design are at the top of the list of “must-haves” for luxury home buyers. What are your “must-haves”?

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

A Seller’s Market Remains for Sarasota and Manatee counties

rasm_logo

While the number of overall closed residential sales, median home prices, and inventory are all up from this time last year, the Sarasota/Manatee area continues to be a seller’s market.  Sarasota county residential sales are only slightly up from September 2015 with a 3.3% increase in condominium sales and a 3% decrease in single family home sales. By contrast, Manatee county single family homes sales are up 13.8% from last year, while condominium sales have dropped 6.2%.

Inventory for the two counties is up nearly 20% from last year at this time even though the current levels have followed the expected trend of off-season decline.  According to the September 2016 data, Sarasota county has a 4.2-month supply of inventory for single family homes and a 5-month supply for condominiums while inventory levels for Manatee county are slightly lower; however, neither county is too far off from a balanced market indicator of a 6-month supply.

Pending sales are have also decreased an overall 11% from 2015 but as the Realtor® Association of Sarasota and Manatee reports, this was not unexpected since 2015 recorded a historically high number of residential sales. Additionally, Linda Formella, the 2016 RASM® President pointed out other factors that can slow down the rate of pending sales such as back-to-school activities, storm warnings, and the anticipation of election results.

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.

Median Sale Prices and Inventory Continue to Rise

rasm_logo

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.

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

construction

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.

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.

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.

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.