COMMON THREADS

Two of the most commonly held misconceptions about Sarasota’s real estate market are that practically nothing is selling; and that the luxury tier is especially moribund.

Nothing could be further from the truth. Buyers are definitely in the hunt for properties, but with maximized value as their holiest of holy grails. Show them true competitive value in their chosen price range and they will show you an offer you can’t refuse.

To prove the point, associates of Michael Saunders & Company have participated in thousands of successful transactions this year. More than 135 of these transactions, almost 17 per month, involved significant properties—priced from $ 1 million and up—totaling close to $269 million in closed volume. 43 involved properties $2 million and up; 21 were $3 million and up and eight sold for $ 4 million-plus—proving unequivocally that rumors of a dearth in high-end sales are greatly exaggerated.

A common thread uniting these important sales is aggressive pricing to showcase unparalleled value. Otherwise, they’re taking place in every corner of the market—from Palmetto in the north to Venice in the south—and represent every type of available housing, including existing single-family homes, new homes, luxury condominiums, pre-construction condominiums and vacant home sites. Many, of course, are on big water—but others are as far east as Lakewood Ranch.

The company’s chart-topping transaction year-to-date was the $8 million sale of a newly constructed home on Shell Road, on Siesta Key, last May. Before that, the record belonged to an existing home on Westway Drive, in Lido Shores, sold in April for $ 6,387,500. Siesta Key was also the scene of the three largest company-controlled sales prior to these—a $5,600,000 home at the Sanderling Club in June, a $5,400,000 home on Beach Road in April and an estate on Midnight Pass Road for $5,150,000 in May. To underscore the powerful allure of genuine value pricing, a buyer flew through the night from Hong Kong in February to see for himself—and ultimately purchase—a home he had just previewed on michaelsaunders.com and immediately sensed was an opportunity not to be missed. The closing price: $3,500,000.

Meanwhile on Casey Key, a significant Gulf front home sold for $4,500,000 in April, setting what was then a record for the largest sale of the year on the key. It has just been surpassed in recent days by the $4,850,000 sale of a bay front home, the largest transaction ever for a Casey Key home not directly fronting the Gulf. Both of these properties were listed and sold by associates representing Michael Saunders & Company. Other noteworthy single-family home sales this year include yet another Casey Key property for $3,450,000 and one on Bird Key for $3,350,000.

At the same time, there’s been no paucity of activity in the luxury condominium market, with associates from Michael Saunders & Company controlling four of the top six sales this year. Two of these were just steps from each other at The Ritz-Carlton—one in the Tower Residences, for $3,630,000; the other at the Residences at The Ritz-Carlton, for $3,600,000. Luxury condominium re-sales on Longboat Key are also showing resilience, with single transactions taking place in En Provence ($3,300,000), The Sanctuary ($3,200,100), L’Ambiance ($2,550,000); and a pair of $ 2 million-plus sales in Regents Place, among other noteworthy sales. Newly constructed condominiums on Longboat Key have also seen positive activity, with two closings at Positano, each for $3,300,000. Up the road, a pre-construction penthouse—listed for $5 million—is now under contract at Bleu Clair. This past Tuesday, a gulf-front home site on Longboat Key sold for $ $2,850,000.

Another common thread unites several of these significant sales. Their new owners were referred to Michael Saunders & Company through our exclusive affiliation with Christies Great Estates and Luxury Portfolio. Christies Great Estates—a wholly owned subsidiary of Christie's, the world's oldest and most venerable fine art auction house—is dedicated solely to the sale of important properties priced above $2 million. Luxury Portfolio—the luxury arm of Leading Real Estate Companies of the World—showcases $1 million-plus properties while annually attracting over 1.2 million high-net-worth visitors to its Web site.

Lastly, the most significant thread uniting these sales is that each involved the professional skills of one or more associates from Michael Saunders & Company. To sell your home, or to sew-up one of today’s incredible values in luxury properties, thread your needle with any one of the property specialists from Michael Saunders & Company, Southwest Florida’s acknowledged leader in luxury.