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Sarasota Community News 
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Sarasota County Luxury Real Estate Update
Wednesday, January 18th, 2012 at 10:30am. 105 Views, 0 Comments.
As of January 1, 2012, there were 10 properties that are showing sold in Sarasota Florida County during the last 60 days that were listed above $2,000,000.
The highest priced property that was listed for $3,500,000, sold for $2,400,000 on Manasota Key. Another sold on Bird Key for $2,675,000.
There was also a sale on Longboat Key with full gulf views for $2,250,000. Eight of these ten properties were all cash transactions.
Don't forget to contact Re/Max Platinum Realty at 941-929-9090 for your needs in Sarasota real estate, as well as your needs for Siesta Key real estate and Casey Key real estate.
Sarasota County Luxury Real Estate Foreclosure Index Report
Wednesday, January 18th, 2012 at 10:29am. 92 Views, 0 Comments.
As of January 1, 2012, there were 28 Luxury Short Sales and 10 luxury foreclosures that had closed in the previous 6 months. The average sold price of the pre-foreclosures was $1,176,768.
That price was 84% of the original list average price of $1,435,446. The average sold price of the luxury foreclosures was $1,342,900 with less than 3 months of inventory left.
The inventory and average days on the market of Sarasota luxury foreclosures and short sales (pre-foreclosures) continue to decline.
Sarasota is located in Southwest Florida on the Gulf of Mexico.
Don't forget to contact Re/Max Platinum Realty at 941-929-9090 for your needs in Sarasota real estate, as well as your needs for Siesta Key real estate and Casey Key real…
November 2011 Sarasota Real Estate Sales up 12.7% over 2010
Friday, December 30th, 2011 at 9:21am. 123 Views, 0 Comments.
November 2011 property transactions in the Sarasota real estate market totaled 602, up 12.7% over last November. The total also exceeded the October 2011 sales figure of 577. The market has remained strong and stable as the winter season gets into full swing, reflecting continued confidence in Sarasota as a destination location.
According to a report from Barbara Corcoran, real estate expert on the Today Show, Sarasota was one of the top recovering markets in the nation. Corcoran said Sarasota is a "beautiful beachfront community" that offers residents and visitors "a sophisticated, urban cultural experience" that is propelling sales and prices in 2011.
Overall, sales in 2011 continued on pace to exceed last year by a wide margin, and should put the…
Good Numbers for Sarasota-Manatee Economy
Wednesday, December 14th, 2011 at 12:54pm. 220 Views, 0 Comments.
A range of statistics on unemployment and business sales all point in the same good direction for the Sarasota-Manatee economy, but differ on how fast the economy is recovering.
Most notably, the local unemployment rate has fallen much more quickly than the national average. Unemployment in the two counties stood at 12.7% in September 2010, but had fallen to 10.3% by last month. The national rate fell much more slowly over that same period, from 9.6% to 9%.
Meanwhile, a look at the sales figures businesses report to the Florida Department of Revenue also show a recovery occurring in this region. Those numbers show a very slow recovery,
For the 12 months that ended in August -- the latest data available -- businesses in Sarasota County posted $11.1…
Florida Leads Top 10 Cities for Home List Price Increases
Wednesday, November 9th, 2011 at 10:17am. 84 Views, 0 Comments.
Florida communities, including the Sarasota real estate market and Charlotte County-North Port, dominated a list of the 10 cities that have seen the largest percentage increase in median list prices when comparing September with a year earlier.
The list from the National Association of Realtors speaks to the lack of available properties on the low end of the market; to the growing number of high-end owners getting off the fence and trying to sell; and perhaps to seller's confidence about what they can get for their homes.
The Sarasota real estate market was No. 4 on the ratings, culled from 4 million listings on more than 900 multiple listing services around the country. The median list price during September was $233,000, 16.5% higher than a year…
Supply of homes for sale decreasing in Southwest Florida
Wednesday, October 12th, 2011 at 10:55am. 97 Views, 0 Comments.
Housing inventories across Southwest Florida continued at levels that are considered a market in equilibrium.
The largest decline on a percentage basis was in Lakewood Ranch, which is proving to be one of the epicenters of the housing recovery in Southwest Florida. There were 321 homes for sale in the master-planned community last month, down 8 percent from August and nearly 34 percent from a year ago.
That inventory is a six-month supply at the current sales pace, a level that is considered indicative of a market in equilibrium.
The Sarasota real estate market had a six-month supply of homes during September. In the Sarasota real estate market, the 6,305 homes for sale compared with 8,800 a year ago.
Besides Lakewood Ranch, another large drop in…
Sales snapshot shows improvement in the Sarasota-Manatee Economy.
Wednesday, September 28th, 2011 at 9:57am. 128 Views, 0 Comments.
The Sarasota-Manatee economy has shrunk by $4 billion since its peak in 2006, but that is actually an improvement. While 50 industries -- from manufacturing to gas stations -- are still performing well below boomtime levels, a growing number in the two counties have recovered to 2006 sales levels.
For example, in the 12 months ending in June -- the latest data available -- apparel stores in the two counties sold $446 million in merchandise, 7% more than they did in 2006. In all, 18 industries are performing better now than they were in 2006. That is up from 10 in a similar analysis done this time last year.
That might not seem like much of an improvement, considering the local manufacturing industry, despite beginning to recover in early 2010 and…
Foreign Buyers Have Big Impact on Sarasota Real Estate
Wednesday, September 21st, 2011 at 12:23pm. 67 Views, 0 Comments.
Foreign ownership in the Sarasota real estate market jumped 10 percent last year and is up by more than one third since 2007. In Sarasota, foreign ownership of condos jumped from 1,208 to 1,660 during the three-year period. Just in 2010, foreign buyers snatched up 234 of the city's units. In North Port, foreign single-family home ownership jumped 44 percent during the last three years, from 362 to 562. Most of that increase also came in 2010, when the number jumped by 105.
In all, foreigners, mainly Canadians and Europeans, own more than 11,000 parcels with values totaling $1.7 billion in Sarasota and Manatee counties. The rising tide is being felt across the state and nation and its growing importance to Florida was made clear in a recent report by…
Siesta Key in Sarasota reaps benefits of No. 1 beach ranking
Wednesday, June 29th, 2011 at 10:49am. 213 Views, 0 Comments.
In the weeks since Siesta Beach was ranked as America's top sand for 2011, visitor interest in Sarasota and area lodging bookings at many properties have skyrocketed, hoteliers and tourism officials say. Traffic was so high in late May on the Sarasota Convention & Visitors Bureau's website that it almost crashed and the organization had to get more digital capacity.
Although exact visitors' figures are not known, Stephen "Dr. Beach" Leatherman's May 27 ranking of Siesta as the nation's top shoreline appears to be playing a role in increased - or planned - traffic throughout the Key.
For lodging operators and tourist spots alike, the heightened attention Siesta Beach is receiving comes as welcome relief after years of struggling against a wobbling…
Fewer Homes for Sale in the Sarasota Real Estate Market
Wednesday, June 29th, 2011 at 10:48am. 154 Views, 0 Comments.
The buzzword in the real estate industry these days is "inventories." They have been dropping steadily since 2008 and have broken through the all-important six-month level at which supply and demand of unsold homes and condominiums are in equilibrium and prices in theory can begin to rise.
In the Sarasota real estate market, inventories had fallen to a 5.8-month supply of homes and a 7.4-month supply of condos at the end of May from a 22.9-month supply of homes and 24.3-month supply of condos at the end of May 2008.
While the drop in inventories has agents throughout the region cheering, there is reason to believe the trend will be short-lived: Piles of unprocessed foreclosures are stacking up inside and outside the court system.
Many recent sales…
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