Trends Suggest a Banner Year for Sarasota Home Sales in 2014

Residential home sales in the Sarasota real estate market continue to exhibit strength as we enter 2014.   During the year 2013, 11,184 homes and condos were sold, the second highest total since home and condo sales have been tracked.  And if current trends continue as they look likely to, 2014 will be an even bigger year.

Sarasota Association of Realtors President Peter Crowley reported that “December was a great month for Sarasota residential sales. Many of our seasonal residents and visitors appear to have  decided to buy this year." This trend has been attributed to higher mortgage interest rates expected in 2014”  Others suggest that the substantial rise in the stock market during the past year has made more people willing and able to consider buying a second home here in Sarasota.

Existing homes are selling well in both Sarasota and Manatee County and out on the popular Barrier Islands.  Home sales in Lakewood Ranch, for example, have been particularly strong in upscale neighborhoods and in Esplanade, the all-new "active adult lifestyle" community.  Of the 573 homes sold in Lakewood Ranch last year, nearly 350 of them were new-consruction homes.  The limited number of existing homes for sale has led builders across the area to become aggressive in buying lots and raw land to meet the expected high level of demand for homes in 2014.

Sarasota area luxury homes and condos on the Sarasota waterfront and on the Barrier Islands were also being bought at a rapid pace as 2013 closed out.  The luxury homes recovery is occurring predominantly in the $500,000 to $2 million categories where sales increased in 2013 over 2012 by 39%. Luxury porperties priced above $2 million have continued to be stalled although with a few outstanding exceptions.

In addition to the high level of existing home sales, there has been a very noticeable uptick in new construction just about everywhere lots and open land are available.   Builders and developers spent more than $60 million purchasing nearly 1,250 acres of raw land and 294 building lots from Bradenton and Lakewood Ranch to Punta Gorda in December alone. Builders buying up land locally include all  the major players including Neal Homes, Taylor Morrison, DR Horton,  Ashton Woods and many others.

The demand for new homes isn't limited to modestly-priced homes.  And, the demand for luxury homes is not limited to just  Sarasota condos along the waterfront and out on popular Barrier Islands like Longboat and Siesta Key.  New luxury homes are in demand and being built in many other Sarasota communities like The Lake Club in Lakewood Ranch.  Back in 2006, when that gated, Tuscan-inspired community opened, its 10 opulent, estate-sized model homes carried price tags of $3.5 to $8 million. Then, during the housing slump of 2008, ’09 and ’10, activity slowed to a crawl.  That has now changed.   Of the 34 new-construction homes sold in The Lake Club in 2013,  the average price was over $1.2 million.   Today,  there are 28 more ultra-luxury  homes in the 7,000+ square foot range being built in The Lake Club, but not as spec homes.  All of them are already sold.

With all this new demand, Neal Homes President, Past Neal, was quoted as saying  “Land prices are going up and so are the prices of drywall, framing labor and concrete. Pretty soon home prices will have to start going up too.” 

So trends suggest that 2014 will be a record-breaking year for Sarasota real estate sales, and with the cost of everything from the land to labor and materials rising, if you’ve been thinking about buying a home, a villa or condominium here on the Sarasota Sun Coast, you should contact a Sarasota Realtor very soon and get started.  The bargain prices on short sale and foreclosure properties of yesterday are largely gone, but there is still time to buy that dream home or condo before prices rise further.

If you are in the market for a Sarasota luxury home or condo, call Rich Stover today at 941.266-1799.  I’d be delighted to answer your questions and offer suggestions on where we can find the property that best matches your needs and desires here in sunny Sarasota Florida.

There's Alway Something Happening in Sarasota

    One of the things that attracts so many people to certain areas of the country is the number of things to do.  Annette Fuller, editor of Where to Retire magazine says, “There are many reasons Baby Boomers are being drawn more to metropolitan areas like Sarasota.  A major reason for this is that these areas have lots of things to do including sports team to support, museums to visit and university classes to attend."

   Sarasota Florida area is one of the most popular retirement areas in the United States for many reasons. In addition to its many Sarasota waterfront homes and condos Sarasota golf course homes that draw people to our area, its popular also because of the almost constant flow of events and activities keeping residents entertained and informed.  This is particularly true during the months when the colder climates up North bring more people to our area.  Let's explore just a few of the events and activities afoot during the month of December, 2013.

    For those who enjoy viewing public art, a drive down Sarasota’s Gulfstream Avenue will bring you to the free biennial exhibition of sculptures along Sarasota’s bay front.  At Island Park and Bayfront Park, from now through May, 2014, Sarasota's "Season of Sculpture" association is presenting Season VII’s "Shared Ground: Eight Artists - Eighteen Installations," a sizable collection of large-scale sculptures in Sarasota’s various waterfront parks.

  A satellite exhibit of smaller works will also being presented beginning in January, 2014 at the Sarasota Herald-Tribune building on Main Street. This indoor exhibit includes wall-hanging, free-standing and pedestal works by the same artists whose work is presented in the waterfront parks.  The Season of Sculpture not-for-profit group not only brings this nationally acclaimed International Invitational Exhibition to Sarasota each year, but it also provides opportunities for visitors to learn more about the works themselves and the artists who created them.

    Visitors are always impressed by a visit to the Ringling Museum and its 21 galleries of European paintings, Cypriot antiquities and Asian, American, and contemporary art objects that were collected by John Ringling, , one of the 5 original circus kings of the Ringling Bros. and Barnum & Bailey Circus, and his wife Mable during their lifetime.

   From now through February 4th, 2014, there is also a unique exhibition of original posters printed between 1890 and 1950 announcing the Wild West shows great Wild West shows from Buffalo Bill to the 101 Ranch.  Much like circuses of the day, Wild West shows traveled from town to town on rails, bringing cowboys, sharp shooters, Native Americans and a variety of animals to audiences around the country.  The exhibit is in the Poster Gallery of the Circus Museum Tibbals Learning Center.

    Ca' d'Zan, John and Mable Ringlings' splendid Venetian Gothic mansion built between 1924 and 1926 and since restored to its original state, is also open for tours.

    For fun for the the whole family, everyone enjoys visiting the Marie Selby Botanical Gardens at 811 S Palm Ave in Sarasota. Right now through February 27th, Marie Selby Botanical Gardens is presenting a new art exhibit called Tropical Splendor in the Museum of Botany and the Arts. The exhibit showcases two artists’ fascination with Selby Gardens.  The exhibit features beautiful garden paintings by Anna Mason and Tom Stephens. Their styles represent a broad range of interpretation from grand vistas to detailed close-ups all depicting popular Selby scenes and plant specimens.  The exhibit runs daily through February 27th from 10am to 4:30pm.

Selby Gardens is also currently presenting their holiday "Lights in Bloom" light show. This is a chance to see the new Children’s Rainforest Garden decked out with holiday lights for the first time.  There will be festive live music to enjoy while dining on grilled entrees, kids’ “Merry Meals,” and holiday snacks while Santa and his elves make an appearance each night. A great thing to do with visiting children and grandchildren.

    The city of Sarasota Florida has a deep commitment to lifelong learning.  The Lifelong Learning Academy (LLA) is celebrating its 15th year of operations.  Registration began on December 11th for the Winter 2014 Semester of the Lifelong Learning Academy.  Classes will be held at the USF Sarasota-Manatee (USFSM) campus, at the Anna Maria Island Community Center and at the State College of Florida at Lakewood Ranch.  Each non-credit, university level course lasts six to eight weeks, with most classes meeting for one hour and twenty minutes each week.  There are no grades or tests.

    Students of all ages may attend classes, participate in discussion groups, and attend special lectures and events.   Tuition is only $75 per class.  Payment for one course during an academic year entitles students in the program to privileges such as access to the USFSM campus, use of the high-speed wireless Internet connection, use of the university library and discounted prices at the campus bookstore.

    On December 14th, Suncoast Motorsports hosted the 9th Annual "Porsches in the Park" event at the beautiful St. Armands Circle. Some of the most spectacular Porsche cars from all over Florida were on display in the center of the circle for public viewing while that same evening, the 28th Annual Sarasota Christmas Boat Parade of Lights was held. On the very next day, on December 15th, Bernadette Peters, one of Broadway’s brightest stars presented a gala evening of songs from her Broadway shows and Grammy Award-winning albums at the Van Wezel Performing Arts Hall.

    On December 17th, Wynton Marsalis, the acclaimed jazz and classical trumpeter, entertained his audience with holiday music including a never-before heard holiday tune that Marsalis said he has been carrying around with him for about two decades. And, on December 20th through the 22nd, the Sarasota Ballet presented "Ringling’s Circus Nutcracker," always a holiday favorite.

    This constant flow of interesting and exciting events and activities, along with baseball Spring training camps and so much more make the Sarasota Florida area, including Bradenton and Lakewood Ranch as well as Siesta, Lido, Bird and Longboat Key one of the favorite places in the United States for Americans as well those from Canada, Europe and more recently Asia and Latin America to buy homes and condos. I'd be delighted to help you find that one home or condo on the Sarasota real estate market that perfectly matches your needs and wishes.

Don't Miss the St Armands Circle Art Festival on Janaury 25th and 26th

    If you're a Sarasota resident, a visitor or just someone passing through Sarasota, you should mark your calendar for the 11th Annual St. Armands Circle Annual Arts Festival coming Saturday, January 25th and Sunday, 26th, 2014 from 10AM to 5PM.

    For those two days, festival goers will get to see and enjoy, in addition to the eclectic boutiques and eateries for which St Armands Circle is so famous, the works of some of the most talented artists/crafters from around the United States.  Some longtime favorite crafters will display their most recent works alongside the works of some of the up-and-coming new talents on the contemporary craft scene.  One-of-a-kind jewelry, fabric arts, photography, pottery, planters, serendipidist items. sculptures and more will be on display and for sale.

    This festival is a competitive event limited to 180 exhibitors who have been chosen by a jury of experienced, 2D and 3D artists and crafts people.  Works of the selected artists will be displayed in an array of media including just about every arts media; digital, fiber, glass, oil, acrylic and watercolor paintings, photography, print making, metal and wood sculpture.

    Visitors to the Art Festival and serious art collectors will get to meet and speak with the participating artists and have the opportunity to purchase their original art objects.  There is no charge for admission to this outstanding arts festival.

    This annual St. Armands Circle Art Festival will likely once again be included on the Sunshine Artist magazine's top art shows in the United State.  Again this year, the St Armands Circle Festival is being presented by Howard Alan Events & American Craft Endeavors, a well-known and respected producer of juried arts and crafts festivals.

    If you are new to Sarasota, to get to picturesque St Armands Circle, from I-75, exit 210, which is Fruitville Road go west and turn left onto the Tamiami Trail (U.S. Route 41). Then then turn right onto Gulfstream Blvd. and across the John Ringling Causeway and Bridge to St Armands Circle.

    If you are a seasonal visitor, I would advise you to take a day while you're here to tour the rest of St Armands and Lido Key.  Lido Key is one of Sarasota's larger barrier islands where you'll find elegant homes and luxurious Sarasota condos separated from the Sarasota mainland by St. Armands Circle and the Ringling Causeway.  A short bridge will take you to Longboat Key.  All of the homes and condos on St Armands Circle and Lido Key are either directly on or a short walk or bike ride to the white sands and warm waters of gorgeous Gulf of Mexico beaches.

  If you'd be interested in touring any of the homes or condos on St Armands or Lido Key, I would be delighted to show them to you.  For more information on other home and condominium options throughout the Sarasota - Bradenton area, including Sarasota golf course homes, please visit my Sarasota real estate website and then call me with your questions at 941.266.1799

Have You Visited PepperTree Bay on Siesta Key

    Located directly on Siesta Key's beaches, Peppertree Bay sits on 16 acres extending across the width of Siesta Key from the Gulf of Mexico to Sarasota Bay.  Peppertree Bay consists of garden homes, 2-story townhomes, and five high-rise buildings.  PepperTree Bay consists of two sections, Gulfside and Bayside.  The Gulfside section is located directly on Siesta Key's world-famous Crescent Beach and the Gulf of Mexico while the Bayside section on the other side of Midnight Pass Road, faces Sarasota Bay and the Downtown Sarasota mainland.

    Peppertree Bay includes 362 units, in five floor plans, with most units ranging between about 975 and 1,550 square feet.  Some Gulfside units are directly on the gulf beach.  Others face either Sarasota Bay or well-maintained garden areas. Some units have private garages and there is also plenty of room for guest parking.  This Siesta Key condo property, though built in the early to mid 1970's, is exceptionally well-maintained.

    Most Peppertree Bay units are sold on a turn-key, furnished basis.  Units sell in a range from the high $200's to over $500,000 with units on higher floors and closer to the waterfront selling at higher prices, but, owners of all units enjoy a complement of features including two swimming pools, tennis courts, a fitness center, barbeque facilities and a gorgeous private beach.  There's even a fishing pier on Roberts Bay for those so inclined.  There is also an on-site rental office to assist those wishing to rent their units. Units may be rented for a minimum term of 30 days up to four times a year. Pets are not allowed.

    Peppertree Bay residents enjoy a carefree and casual lifestyle within a comfortable walking distance all of the eclectic shops, boutiques and casual dining experiences for which Siesta Key is so well-known.

    If you would like to know more about Peppertree Bay, other Siesta Key or Sarasota waterfront real estate opportunities, it would be my pleasure to assist you. Please visit my Sarasota real estate website or, for an immediate response to your questions, call me today at 941-266-1799.