Coming close on the heels of my last Sarasota Real Estate Report, which highlighted the luxury housing market in our region, I thought my readers would find the newest Luxury Defined report from Christie’s International Real Estate. Christie’s has been a longtime affiliate of Michael Saunders & Company, and as a Broker/Associate with Michael Saunders & Company and expert in Sarasota and Longboat Luxury properties, it provides the privilege of partnership with the world’s leading luxury residential network. With 140 affiliated brokerages in 49 countries, Christie’s allows my listings to have an extended reach through the most prestigious luxury global real estate agents. Along with the marketing benefits, I also have access to exclusive market intelligence and global trends gleaned from 27,000 agents in 940 individual offices located in the luxury markets around the world.
Christie’s CEO Dan Conn was quoted in their recent report, Luxury Defined, on the global luxury real estate market, ” A stable global economy, a strong stock market, low interest rates and rising consumer confidence served as positive tailwinds for the luxury residential real estate markets” in the prime and ultra-prime housing market.
Prime residential real estate continues to be very attractive for the world’s wealthiest individuals. And even with today’s geopolitical instability, regulations, and other forces, luxury property markets still have a strong future outlook.
Within the research conducted was a listing of the top five “Hottest” markets for second homes. Given the global nature of the report, even I was a bit surprised to see Sarasota, FL listed at #3 globally! We were behind Santa Fe, NM and Muskoka, Ontario, and ahead of Sun Valley, ID and the Bahamas. On page 19 of the report, you will find a list of average real estate prices in secondary home markets. Seeing Sarasota side-by-side with cities that I hear my clients talk about as alternatives – Naples, Jupiter Island, Palm Beach and others – shows the relative “affordability” of the Sarasota Real Estate Market.
As my luxury clients have heard from me, savvy buyers are well informed on pricing, and with a great deal of new luxury product coming to market, getting the pricing on a listing right is the name of the game. In the Luxury Defined report, Michael Saunders is quoted as saying, “Price was the name of the game in 2017, and luxury homes sold in record numbers after homeowners adjusted their prices. The median sales price declined nearly three percent in the upper-end, and original list-to-sell price ratios were as high as 85 percent. Once prices were adjusted, list-to-sell price ratios shrunk to 98 percent—a significant swing.”
I am pleased to offer the subscribers of my Moulton Sarasota Real Estate Report exclusive access to Christie’s just released 2018 Luxury Defined report – “An insight into the Luxury Residential Property Market.” I am sure you will find it extraordinarily thought-provoking, filled with fascinating information on global markets, and just a few facts that will confirm that Sarasota is indeed one of the most special of places on the planet to live, work and play!
Many thanks to Michael Saunders for realizing the importance of these prized affiliations and for bringing this community into the global spotlight through Christie’s International Real Estate.
Read the full report HERE.
View Michael’s Ultra-Luxury Listing: