Congratulations to my selling clients on yesterday’s closing of their beautiful Tessera condominium! Tessera, home to this elegant residence, is a luxury boutique building in downtown Sarasota situated on serene Palm Avenue and nestled in a private garden setting of shady oak trees.
The real estate market is expected to remain stable when the country gets back to business with prices returning to a modest pace of growth, sales activity expanding and new home building continuing to try to meet strong demand.
The Sarasota Real Estate Market experienced considerable growth in transactions, total dollar volume and prices. With 20% more contracts signed in the month than last year, the next 30-60 days should remain strong.
It has been a pleasure representing the seller AND the buyer of this beautiful waterfront home on Lighthouse Point. Bringing two of my valued customers together on this transaction made for easier communications for both sides, a swift transaction, and an introduction of two wonderful couples.
The Sarasota Real Estate Market ended 2019 on a high note with sales transactions exceeding last December by nearly 52% and total dollar volume increasing almost 63% over prior year.
A completely renovated top-floor Gulf front condominium at Inn on the Beach at the Resort at Longboat Key Club has sold to my clients for $1,400,000. The 10th floor “penthouse” has extraordinary panoramic views of the beach with unparalleled and unobstructed sunset views over the Gulf.
The September Sarasota Real Estate Market once again bested Florida and National sales by a considerable margin. Sales of existing homes and condominiums exceeded last year’s transactions by almost 25%. Prices in the Sarasota Real Estate Market continue to grow, though at a moderate and sustainable pace. Pending sales increased by 12.5% setting a nice pace for closings in the months ahead.
August sales of existing homes and condominiums in the Sarasota Real Estate Market were considerably higher than the same month last year. And strong pending contracts activity sets up healthy sales pace for 30-60 days ahead.
The Sarasota Real Estate Market has been inching toward a buyer’s market, but conditions are currently neither strongly favoring either buyer’s or seller’s sides. With low interest rates, strong consumer confidence, steady flow of traffic from “tax-refugee” buyers, increased inventory and active new construction, conditions are favorable for The Sarasota Real Estate Market.
I remain bullish on the Sarasota Real Estate Market. With the flow of “tax refugee” relocations expected to continue, excellent economic conditions – including the longest stretch of mortgage rates below 5% in more than 60 years, as well as significant strength in our condominium and home building regionally, there is plenty of supporting evidence that our market balance and steady conditions suggest a sustainable environment.
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michaelmoulton@michaelsaunders.com
Michael Saunders & Company
440 Gulf of Mexico Drive
Longboat Key, Florida 34228
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michaelmoulton@michaelsaunders.com
Michael Saunders & Company
440 Gulf of Mexico Drive
Longboat Key, Florida 34228