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More Luxury for Less on Florida’s Gulf Coast

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“Instead of Palm Beach, try Sarasota, Fla.,” advises Candace Taylor of the Wall Street Journal. Lido Shores home for sale: 1199 Westway Dr

“Instead of Palm Beach, try Sarasota, Fla.,” advises Candace Taylor of the Wall Street Journal. View this Lido Key home for sale at 1199 Westway Dr.

One of the Smartest Buys in the Sunshine State
The market for high-value properties in Sarasota, Manatee and Charlotte Counties is currently being hailed as one of the smartest buys in the Sunshine State for luxury buyers who want more home for their money without sacrificing any of the lifestyle amenities that accrue to buyers in such pricier Florida markets as Palm Beach, Miami and Naples.

“Instead of Palm Beach, try Sarasota, Fla.,” advises Candace Taylor, a business reporter covering residential real estate for the Wall Street Journal. “Florida’s west coast has traditionally been less expensive than its east coast, where Palm Beach and Miami boast some of the world’s most expensive real estate” writes Taylor, quoting from an interview with Rick Moeser, senior vice president of Christie’s International Real Estate. “And while Naples has grown nearly as expensive as its east coast counterparts, there are still great deals about 115 miles to the north in Sarasota, where luxury waterfront homes sell for a fraction of the cost,” Moeser adds.

Luxury home for sale just listed on Siesta Key. 150 Givens St.

Waterfront properties are plentiful along our region of the Gulf Coast. View this luxury home for sale just listed on Siesta Key: 150 Givens St.

If recent trends are any indication, buyers have warmed to the idea of getting more luxury for less in Sarasota real estate; as well as in its neighboring communities of Manatee and Charlotte Counties.  As is often pointed out, much of the difference has to do with prime waterfront properties being much more plentiful in our region of the Gulf Coast because Mother Nature placed an extra strand of islands—or keys—along its entire 80-mile length.  Therefore a comparable home on or near the water in Naples, Palm Beach or Metro Miami-Ft. Lauderdale is usually much more expensive because there is less shoreline available.   Moreover, luxury home prices in Southwest Florida remain well off their 2005 peak.

Just Look at the Numbers
Following a 17% increase in last year’s total number of luxury sales, 2016 brought an even stronger surge throughout the Sarasota, Manatee and Charlotte Counties region. Year-to-date (through mid-July) 418 properties priced above $1 million have sold, an 18% increase over a year ago.  Properties above $2 million have experienced a 38% increase over last year; and properties priced above $3 million—the unofficial threshold to our market’s upper end—have experienced a 211% increase.   (Source:  Mid-Florida Regional MLS)

Through mid-July, 59 properties have each sold for $3 million or more, compared with 28 during the same period of 2015; and 23 during 2014.  Although 22 of this year’s sales involved new construction of luxury condominiums, that so many others involved existing homes says that buyers have as much appetite for the old as they do for the new—provided they can detect true value in whichever type of property they ultimately decide to buy.

A Tuscan-inspired home for sale in the Lake Club in Lakewood Ranch. 15410 Anchorage Pl

Michael Saunders & Company leads in the region’s luxury market. View this Tuscan-inspired home for sale in Lakewood Ranch: 15410 Anchorage Pl

 

The Market Leader
As properties in our region continue to sell vigorously throughout every price point, we are especially proud of the amazing lead our agents have taken in revitalizing the region’s luxury market.  Michael Saunders & Company currently enjoys a 32.4% market share of sold properties above $1 million—a level equal to its next four competitors combined.  (Source:  Trendgraphix, July 2016)

For properties priced about $3 million, Michael Saunders & Company holds a 40.2% share of market—a level nearly double that of our next three competitors combined.

Just as Ms. Taylor sought out Christie’s International Real Estate for its global expertise in high-value properties, buyers and sellers seek out Michael Saunders & Company for its longstanding leadership in the local luxury market, as well as for its lengthy affiliation with Christie’s.  Thus, when you see the two brands emblazoned together on a yard sign in front of a luxury home you can rest assured that the property is not only being aggressively marketed by Michael Saunders & Company; but also to the Christie’s worldwide network—which now includes 135 affiliated brokerages operating from 1,200 offices with over 32,000 real estate professionals in 45 countries.

Visit MichaelSaunders.com for a searchable gallery of all the luxury properties currently listed for sale in Sarasota, Manatee and Charlotte Counties.

 

More Luxury for Less on Florida’s Gulf Coast was last modified: July 28th, 2016 by Michael Saunders

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