We are experiencing somewhat of an anomaly in Sarasota this late spring as we move into summer: luxury properties are selling late into the season, with more sales to come, as evidenced by the number of pending transactions in the Mid Florida Regional multiple listing service, as noted below.
Nothing gets a realtor and a seller more excited than to see positive momentum in closed transactions of luxury property! Year to date through May 6, we have seen 21 closed transactions in Sarasota county, for single family residential homes listed for a minimum of $1.5 million. The highest sale is $4.75 million at 552 S. Spoonbill on Bird Key (my listing and pictured above), and the lowest is $1.15 million at 7230 Manasota Key. There is also one higher sale for $7.125 million in Manatee county at 5871 Gulf of Mexico Drive.
Part of what makes this interesting is that 3 of these sales occurred in January; 3 in February, 4 in March, 8 in April, and 4 in the first 6 days of May, with an additional 15 pending sales that should close by mid July.
Based on vigorous showings as evidenced by the escalating number of appointments scheduled through the Michael Saunders & Company call center, we, at Michael Saunders & Company, are anticipating continued strength in these sales throughout the summer. The buyers are realizing some pretty significant price reductions and making wise purchasing decisions at this time.
Stay tuned for more market updates on the luxury waterfront market in Sarasota. I look forward to keeping you informed.
