Sarasota Florida Real Estate Report for March, 2014

Unlike other parts of the country that have now experienced three months in a row of declining home sales, the Sarasota real estate market in March remained stable, even continuing its steady improvement as time goes by. In January and February, there was some concern that perhaps the Sarasota market was stalling out, but that fear has gone away with the March rebound in both closings and pending sales.

Sarasota County home and condo sales in March, 2014 topped 1,000 for the first time since May 2013. March closings came in at 1,050 (698 single-family and 352 condos) almost the same as the volume a year ago but a substantial uptick from the February 2014 sales volume of 787.

Pending sales at the end of March remained at a healthy level, topping 1,200, a level not seen in the past 3 years. These sales will close in coming months indicating that the months of April and May will show equally healthy closed sales volumes.

Peter Crowley, President of the Sarasota Association of Realtors® said in his monthly report, “This spring has seen very robust sales, just like last year. Agents have been busy and buyers are actively investing in the Sarasota real estate market."

The median sale price for single-family homes stood at just under $189,500. The median condo sale price in March was $170,900, just above the year-ago number of $165,000. The median sale price for the rolling 12-months ending in March, which tends to moderate month-to-month swings, was $188,000 for single-family homes, about 20% higher than the previous 12-month period. For condos, it was just over $166,500, up 9.2% over the previous 12-month period.

The inventory of homes for sale in Sarasota County dropped slightly in March to 4,810 after topping 5,000 in February, a very manageable 3.8% month-over-month drop. Maintaining a healthy inventory of properties available for sale helps to keep prices from rising too fast.

If you would like to know more about the Sarasota real estate market in general, or the cultural, shopping or recreational amenities of Sarasota, call me today at 941-266-1799 or visit my website dedicated to homes for sale in Sarasota Florida. I'd be happy to be of assistance.

Aqua, A Unique Boutique Condo on the Sarasota Waterfront

In the past several months demand for ultra high-end condominiums has come roaring back in Sarasota. In fact it is beginning to look as though the "construction crane" is coming out of hiding after several years and is poised to once again become the unofficial bird of southwestern Florida.

Among the new luxury condo developments breaking ground this year here in Sarasota will be Aqua to be constructed on the waterfront at 280 Golden Gate Point. Aqua will join One88, also being built on Golden Gate Point, the Jewel Residences at Gulfstream Avenue and Main Street, the Vue Sarasota Bay at 100 South Washington Blvd, and the Sansara at 300 South Pineapple Ave. in a recent burst of new luxury condominium developments breaking ground this spring in Sarasota.

Aqua will have only 8 units within a modern 9-story building in the iconic Sarasota School of Architecture style. With a full-time concierge, state-of-the-art security and luxurious amenities, Aqua, in the words of its developers, "will reflect a refined and elegant lifestyle of gracious Downtown Sarasota waterfront living."

The eight residences will each have their own private elevator foyer, two-car garage and a dedicated boat slip. Each opulent residence will feature 10 to 12 foot ceilings, spacious open floor plans for entertaining, gourmet kitchens with granite and stone counter tops and top-of-the-line appliances, master bedroom suites with unique features, and large exterior terraces for breathtaking views of sunsets over the Gulf of Mexico.

The eight residences will share a state-of-the-art fitness studio, private massage/facial salon, spa with steam shower and sauna, yoga studio, heated waterfront infinity pool and putting green, a temperature-controlled wine room with secure individual cabinets, and a delightful rooftop entertaining and observation area. There will only residence per floor. The 3,800 square foot units, called “Residences,” have pre-construction prices starting at $3,495,000 while the 6,700 square foot units, called “Grand Residences,” will start at $5,695,000.

Located on the prestigious Golden Gate Point, the residences at Aqua will be just steps from Downtown Sarasota with all its restaurants, shops, theaters and galleries and just a short drive across the John Ringling Bridge to the renowned shopping and dining mecca at St. Armand’s Circle and the white sand beaches on Lido Key.

Sarasota Magazine reported, "these new condos on Golden Gate Point have a real Sarasota look, a little bit of Sarasota School of Architecture modernist, a little bit of Miami Tropical, and a whole lot of over-the-top luxury pared down to the most elegant simplicity."

To learn more about Sarasota Florida and this and other luxury waterfront and downtown Sarasota condominium options now available, please call me at 941-266-1799 or visit the Downtown Sarasota condos section of my website. I would be delighted to answer whatever questions you may have.

Attractive Home For Sale in Heritage Oaks Golf Community

The Heritage Oaks Golf and Country Club community, located East of I-75, is a gated collection of maintenance free condos and villas to single-family homes.

The 18-hole Heritage Oaks golf course, designed by Jed Azinger and Gordon Lewis and open since 1997, has all the hallmarks of great Florida golf. The country club also offers its members 4 lighted tennis courts and a fully-equipped fitness center with regularly scheduled classes, a pitching and putting green, full-service pro shop with teaching pros, both a formal dining room and a casual "19th Hole" Grille Room, large club pool plus four more heated pools around the community. The community also has trails for leisurely walks. Heritage Oaks is a private golfing community entirely owned by the 850 homeowners, all of whom are full golf and country club members.

Within this pleasant moderately priced golf community, there is this wonderful St Charles model pool home with 4 bedrooms, 2 baths and a 2 car garage available today. The home, with an extended pool lanai, backs up to an Audobon-rated preserve with abundant wildlife. This home uses the great room concept with the kitchen open to the gathering area of the home. Basically, a 3 bedroom home, the den has a closet and french doors allowing it's use as a 4th bedroom when multiple guests come to visit.

This attractive home, priced at $420,000 has too many amenities to list but its worth noticing the hurricane shutters all around, the security system, the newer HVAC system with surge protector, a water softener serving the entire home, a cartridge water filter in the kitchen, wood flooring, Bose speakers, and mostly new appliances.

If you would like more information on this home as well as others available for sale in Heritage Oaks, I would be happy to introduce you to this moderately-priced community and the delightful lifestyle it offers if you'll call me at 941.266.1799.

Yet Another Luxury Condo to be Built in Downtown Sarasota - One88

    In the past few months demand for high-end Sarasota condominiums has come roaring back in Southwest Florida and particularly, here in Sarasota. Yet another developer has now decided that Sarasota is the place to build new luxury real estate properties. The Vandyk development company of Toronto, Canada was in Sarasota two weeks ago to unveil plans for One88, another limited-size condo development on prestigious Golden Gate Point. The site of this latest new luxury condo development is at 188 Golden Gate Point overlooking Sarasota Bay and the John Ringling Bridge.

    One88 will join AQUA being built nearby at 280 Golden Gate Point and others in this recent burst of new luxury condominium developments getting started in downtown Sarasota. The Jewel Residences, being built at the corner of Main Street and Palm Avenue, with 18 luxury residences ranging from 2,100 to over 4,300 square feet,is still another major development currently underway in the Downtown Sarasota waterfront condos market.

    John Vandyk, president of the company developing One88 said at the unveiling that, having visited Sarasota many times for pleasure, “there is a lot of art and culture here in Sarasota, and the people are very kind. It’s a different lifestyle, a beautiful lifestyle.”

    Like AQUA, One88 will have just eight residences. One88 will have two residences on each floor, each with about 3,000 square feet of air-conditioned space with over sized terraces. The limited size of the development was in part dictated by the small size of the lot on which it will be built. Unlike other developers, Vandkk is not taking reservations for these Sarasota luxury condos. "We're going direct to contract," the developer's spokesperson said.

    Prices range from $2.6 million to $3 million on the first three fours. The two penthouses on the fourth floor, which have rooftop terraces are currently priced at $3.9 million. A unique feature of these luxury boutique condos is that buyers of each residence will receive a social membership at the Sarasota Yacht Club. The Sarasota Yacht Club, one of the most prestigious yacht clubs in Sarasota offers the benefits of a member-owned private social club with extraordinary services and facilities regardless of whether the member owns a boat or not. The docks at the yacht club can accommodate boats up to 100 feet and drafts of up to 10 feet.

    Explaining why the Vandyk group chose Sarasota for their first investment in the United States, Karin Silver, Vandyk USA VP of Marketing & Sales said, culturally, we like Sarasota better than Naples or Miami. There is the right balance of culture and amenities here. To us, Sarasota is a diamond in the rough, a hidden jewel. There is pent-up demand here."

    Your home at One88 on prestigious Golden Gate Point wil be just a few steps away from downtown Sarasota with all its restaurants, shops and galleries and only a short drive across the John Ringling Bridge to St. Armand’s Circle and the beaches of Lido Key.

    Vandyk plans to develop another downtown Sarasota property at 635 S. Orange Avenue in Burns Court, though it’s not yet decided exactly what form that project will be.

    Call me at 941.266.1799 to learn more about One88, AQUA or other attractive Downtown Sarasota luxury residences.