Luxury Property in Sarasota http://luxurypropertyinsarasota.com Wed, 25 Apr 2012 19:02:48 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Sarasota Home Prices Increase as US Home Prices Drop http://luxurypropertyinsarasota.com/sarasota-home-prices-increase-as-us-home-proices-drop http://luxurypropertyinsarasota.com/sarasota-home-prices-increase-as-us-home-proices-drop#comments Wed, 25 Apr 2012 19:00:10 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3226 Read More]]> Recently, it was reported that most major US cities experienced a drop in home prices during the month of February 2012.   This is at a time when our local Sarasota market experienced a 4.4% increase in home prices.  Plus, home prices in Manatee County were up 3.7%.  Thankfully, the biggest decrease in home prices were experienced in cities outside of Florida.

There were only two Florida cities listed:

  • Miami +0.6%
  • Tampa -0.2%

The decline in home prices is being attributed to multiple foreclosed homes being sold.  During the month of February, foreclosures made up about a fifth of all sales.  Generally, foreclosures are sold at an extremely low price as compared to other homes.

“We think home sales will continue to trend upward, which ultimately will result in a slower rate of home-value depreciation,” Humphries said. “But any housing recovery will be dependent on job growth.”

Read more, “U.S. home prices drop for sixth straight month“

Searching for waterfront property in Sarasota?

Contact Deborah Beacham at 941.376.2688 to find the perfect waterfront property in Sarasota!

]]> http://luxurypropertyinsarasota.com/sarasota-home-prices-increase-as-us-home-proices-drop/feed 0 Sarasota Real Estate Market Gets Boost from Luxury Sales http://luxurypropertyinsarasota.com/sarasota-real-estate-market-gets-boost-from-luxury-sales http://luxurypropertyinsarasota.com/sarasota-real-estate-market-gets-boost-from-luxury-sales#comments Mon, 23 Apr 2012 12:56:01 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3219 Read More]]>

The Sarasota Herald Tribune reported Sarasota County home and condo sales hit a seven-year high.

Luxury home sales were the foundation to the strong market during March 2012.  In fact, 34 Sarasota County homes and condominiums that sold were valued at more than $1 million.  That’s a 48% increase from March 2011.  The sales of luxury homes continue  through the month of April 2012.  One of my listings, 612 South Casey Key Road recently sold for $5.77 million.  This sale represents the largest sale of the year on Casey Key.

Read more at “Luxury sales boost Southwest Florida real estate market“

Looking for luxury property in Sarasota County?

Contact Deborah Beacham at 941.376.2688 to find your dream luxury property in Sarasota!

 

]]> http://luxurypropertyinsarasota.com/sarasota-real-estate-market-gets-boost-from-luxury-sales/feed 0 March Real Estate Sales Sees Seven-Year High http://luxurypropertyinsarasota.com/march-real-estate-sales-sees-seven-year-high http://luxurypropertyinsarasota.com/march-real-estate-sales-sees-seven-year-high#comments Thu, 19 Apr 2012 19:39:43 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3208 Read More]]>

Sarasota Realtors were in full swing during the month of March 2012.   They were so busy, that the Sarasota real estate market saw the most sales we’ve seen in the past seven years.  Plus, pending sales reach the highest level we’ve seen in the past 12 months.  These pending sales will keep the high number of closings continuing over the next several months.   Leading to a drop in available inventory of homes on the market.

“This is amazing news, and our local brokers and agents should be extremely proud of all their hard work and diligence, helping buyers and sellers make their dreams come true,” said SAR President Laura Benson. “The strength that the Sarasota market has demonstrated in the past few months has been remarkable, and I’m looking forward to a continuing resurgence in local real estate. Property sales drive so many other elements of the local economy, and that means more jobs, higher salaries, and a better overall community.”

Key Real Estate Stats from March 2012

  • Single Family Homes
    • 596 Sold
    • Median Sales Price -174,900 (Up from $167,500 reported for February 2012)
    • 2877 Active Listings
    • 4.8 months of available inventory
  • Condos
    • 235 Sold
    • Median Sales Price – $192,000 (Up from $150,000 reported for February 2012)
    • 1576 Active Listings
    • 6.7 months of available inventory

Read the Sarasota Association of Realtors Press Release

Looking for a waterfront property in Sarasota, Florida?

Contact Deborah Beacham at 941.376.2688 to find your dream waterfront property in Sarasota!

Rose Brasgalla liked this post
]]> http://luxurypropertyinsarasota.com/march-real-estate-sales-sees-seven-year-high/feed 0 Allegiant Air adding Flights to Punta Gorda Airport http://luxurypropertyinsarasota.com/allegiant-air-adding-flights-to-punta-gorda-airport http://luxurypropertyinsarasota.com/allegiant-air-adding-flights-to-punta-gorda-airport#comments Mon, 16 Apr 2012 21:56:33 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3197 Read More]]> Recently, Allegiant Air announced they will add four flights to Punta Gorda Airport.  Punta Gorda Airport is within an hour of downtown Sarasota and is a popular options for traveling to Southwest Florida.  The flights will begin in late June 2012 and will include direct flights from:

  • Fort Wayne, IN
  • South Bend, IN
  • Peoria, IL
  • Niagara Falls, NY

“This is great news,” said Gary Quill, airport director. “You normally don’t expect to add routes in the summertime in Florida, so we’re just really pleased.”

Southwest Florida Luxury Properties just got a little closer!

A luxury property in Southwest Florida will be easier to escape to with Allegiant Air’s direct flights to Punta Gorda Airport.  Soon you will be able to land in Punta Gorda, drive to your luxury property, and enjoy the beach before the end of the day.

Looking for a Luxury Property in Southwest Florida?

Contact Deborah Beacham at 941.376.2688 to find your dream waterfront property in Sarasota!

]]> http://luxurypropertyinsarasota.com/allegiant-air-adding-flights-to-punta-gorda-airport/feed 0 Southwest Florida Luxury Home Sales on the Rise http://luxurypropertyinsarasota.com/southwest-florida-luxury-home-sales-on-the-rise http://luxurypropertyinsarasota.com/southwest-florida-luxury-home-sales-on-the-rise#comments Thu, 12 Apr 2012 20:26:50 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3191 Read More]]> TrendGraphix released data that showed Southwest Florida luxury properties, of at least $1 million, was up 11.1% when compared March 2011.  Plus, properties that sold for at least $1 million was up 25% since February.  The increase in luxury sales comes at a time with home sales for Charlotte, Manatee, and Sarasota counties where down when compared to previous year’s stats.

Besides the increase in luxury sales, another positive sign for for Southwest Florida’s real estate market is the pending sales.   Pending sales for March 2012 is up 16.3% when compared to previous year’s stats.   Plus, available inventory dropped 23.4% when compared to March 2011.

Searching for a luxury home in Sarasota?

Contact Deborah Beacham to get started on finding your dream home in Sarasota.

]]> http://luxurypropertyinsarasota.com/southwest-florida-luxury-home-sales-on-the-rise/feed 0 It is a Good Time to Sell in Sarasota! http://luxurypropertyinsarasota.com/it-is-a-good-time-to-sell-in-sarasota http://luxurypropertyinsarasota.com/it-is-a-good-time-to-sell-in-sarasota#comments Fri, 06 Apr 2012 16:50:54 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3179 Read More]]>

The number of Southwest Florida properties available for sale have declined dramatically.  This is due in large part to the combination of low prices, low interest rates, and the media touting the Gulf Coast as being the best place to buy real estate.   Now, the number of Southwest Florida properties available is at its lowest level since 2005.

Southwest Florida is slowly becoming a Seller’s Market

Southwest Florida’s real estate market is experiencing a shortage of available listings.  Real estate priced from $800,000 – $1 million experienced a dramatic decrease in supply.  Available inventory went from a 12.1 month supply to a 5.8 month supply in just one month.

Plus, we’re finding buyers are ready to buy in almost any price range.   Therefore, sellers can expect a buyer for their competitively priced home.  In some cases, sellers are receiving multiple offers including some above their suggested list price.

Now is a great time to sell a home, even though our market is not fully recovered.

If you would like further information about listing your home with me, please complete the following short questionnaire and I will contact you as soon as possible.

]]> http://luxurypropertyinsarasota.com/it-is-a-good-time-to-sell-in-sarasota/feed 0 Sarasota Real Estate Market – February 2012 http://luxurypropertyinsarasota.com/sarasota-real-estate-market-february-2012 http://luxurypropertyinsarasota.com/sarasota-real-estate-market-february-2012#comments Wed, 04 Apr 2012 16:54:10 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3171 Read More]]>

Recently the statistics for the Sarasota real estate market from February 2012 was released. The information from Michael Saunders & Co. shows some promising trends throughout Sarasota County.

  • Sales were up 13.6% when compared to January 2012.
  • There is no a 6.6 month supply of properties for sale. This puts Sarasota’s real estate market on the verge of a sellers market.
  • The total number of “pending” transactions was up 14.6% when compared to January 2012

Luxury properties over $1 million are trending to one of the lowest levels since before the real estate boom. Even with signs of a sellers market sales were yo 46.7% when compared to January 2012. Plus, “pending” luxury real estate sales were up 11.3% as compared to January 2012. In the end, this is still an excellent time to take advantage of low prices and interest rates.

Searching for a luxury home in Sarasota?

Contact Deborah Beacham to get started on finding your dream home in Sarasota.

]]> http://luxurypropertyinsarasota.com/sarasota-real-estate-market-february-2012/feed 0 Sarasota Ranks Near the Top for International Buyers http://luxurypropertyinsarasota.com/sarasota-ranks-near-the-top-for-international-buyers http://luxurypropertyinsarasota.com/sarasota-ranks-near-the-top-for-international-buyers#comments Fri, 30 Mar 2012 13:56:38 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3154 Read More]]> According to Inman News, foreign investors are purchasing homes in different  markets in the United States.  They created a list of the top “10 Hot Spots for Global Homebuyers“.  The hottest markets were in various tourist areas.  Sarasota-Bradenton area ranked 4th on the top 10 list of hot markets for foreign home buyers.

The Top 3 Countries of origin for foreign buyers in
Sarasota-Bradenton:

  • Canada
  • United Kingdom
  • Germany

“(International buyers) zero in on Sarasota for its plethora of cultural and recreational choices, and its European Riviera style of coastal ambiance. More recently, many choose Sarasota because of its exploding international reputation for tremendous values and choices in properties.

Searching for a luxury home in Sarasota?

Contact Deborah Beacham to get started on finding your dream home in Sarasota.

]]> http://luxurypropertyinsarasota.com/sarasota-ranks-near-the-top-for-international-buyers/feed 0 Sarasota’s Luxury Real Estate Market Rebounding http://luxurypropertyinsarasota.com/sarasotas-luxury-real-estate-market-rebounding http://luxurypropertyinsarasota.com/sarasotas-luxury-real-estate-market-rebounding#comments Tue, 27 Mar 2012 16:14:52 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3134 Read More]]> The Sarasota Herald Tribune reported the market for luxury homes and condos is rebounding. Interested buyers are generating multiple offers on million-dollar homes. Luxury properties in Sarasota have not experienced a multiple offer climate since 2007. February Sales of Luxury Homes were up 48% with 31 property transactions.

“Fueled by Wall Street gains, rising consumer confidence, beefed up demand for high-end homes amid shrinking inventory, and seller flexibility on price, buyers appear poised to make deals that were rare three years ago.“

Sarasota Luxury Home Inventory

Luxury home inventory is getting back to the levels experienced before the housing boom.   There were 847 million-dollar properties available during the first quarter of 2012.  This is near the same levels experienced in 2003 when there were 717 luxury properties available.  Buyers are finding a wide variety of available luxury properties from horse ranches to luxury condos overlooking Sarasota bay.

“With inventory low in all price ranges, it is prudent for the buyer who’s ready to purchase to evaluate your wants and needs and turn them into a smart purchasing decision. I am here to assist you.” – Deborah Beacham.

Read more, “Market for luxury homes rebounding“

Searching for a luxury home in Sarasota?

Contact Deborah Beacham to get started on finding your dream home in Sarasota.

]]> http://luxurypropertyinsarasota.com/sarasotas-luxury-real-estate-market-rebounding/feed 0 Casey Key Sales Update http://luxurypropertyinsarasota.com/casey-key-sales-update-2 http://luxurypropertyinsarasota.com/casey-key-sales-update-2#comments Mon, 26 Mar 2012 13:21:27 +0000 Deborah Beacham http://luxurypropertyinsarasota.com/?p=3073 Read More]]> Spring is in the air and buyers are picking up properties on the key. Here’s a recap of what’s happening.

Casey Key Sales

1304 Casey Key

3256 Casey Key

3105 Casey Key

3101 Casey Key

705 S Casey Key

504 Casey Key

Since January 2012, there have been 6 closed transactions on Casey Key: two bayfront properties, two gulf front properties, and two gulf-to-bay properties.

The highest sale so far is my gulf-to-bay listing at 1304 Casey Key, a 7600+/- sq. ft. home built in 2006 with 5 bedrooms, 8.5 baths, on a 55 foot wide parcel with good boating water and a walkover to the 8-mile beach. This sold for $4.1 million to a Canadian buyer. The list price was $5.295 million.

 The next highest gulf-to-bay sale was at 3256 Casey Key, a 2000 +/- s.f home built in 1955 on a 100 ft. lot with good boating water, with a list price of $2.7 million, which sold for $2.2 million and closed in January. The sellers previously paid $2.15 million in March 2004. The buyers plan to tear it down and build new. This is located in a stretch of homes on the key that are older with non-mega mansions in place. It will be interesting to see what the owner plans to do with this property.

The gulf front sale at 3105 Casey Key, is a modern gem designed by Guy Peterson in 2000. The 2700 +/- structure was taken down to the slab and rebuilt. Landscaping was done by David Young. I previously sold this home in 2005 for $3.4 million. The sale in February 2012 was $2.5 million, with a list price of $2.795 million.

The next gulf front property, considered by most buyers who viewed it to be a tear-down, is on a 100 ft. parcel sandwiched between a Sarasota School of Architecture property and the Guy Peterson designed home described above, located at 3101 Casey Key. There is a modest but quaint older home built in 1955. It was listed at $1.985 million and sold for $1.45 million in March 2012.

Two bayfront sales complete the closings through March: one at 705 South Casey Key, an interesting bungalow with 1600 +/- sf of living space in a 1986 home on 110 feet of frontage with sailboat water. The home was previously listed in 2009 at $1.9 million; became a short sale and was last listed for $990,000 and sold in February 2012 for $700,000. We have not seen prices like this since 1999 for bayfront property.

The final bayfront sale for March was my listing at 504 Casey Key, a 2800+ s.f home on 101 feet of boating water with deeded beach access, with an additional 200 feet of canal. The home was built in 1990, has beautiful grounds and a pool, and was listed for $1.595 million. It sold for $1.3 million.

Casey Key Pending Sales

As of this writing, there is one pending sale on the key, a gulf front parcel on the south end, listed for $2.299 million, scheduled to close April 30, 2012.

Casey Key Active Listings

There are 41 active listings, ranging in price from $650,000 to $19 million.

Interested in Casey Key Real Estate?

Contact Deborah Beacham to get started on finding your dream home on Casey Key.

]]> http://luxurypropertyinsarasota.com/casey-key-sales-update-2/feed 0