Luxury Home Market Staying Strong in Sarasota, Florida
Sarasota, FL – While the sale of luxury homes in Sarasota, Florida is not quite at the brisk pace it has been in years past, many places are still selling for high prices. In June 2012, 35 luxury properties were sold for a total of $62 million, and 26 homes and condominiums as well as two waterfront lots sold for a total of $48.2 million in July 2012. The most expensive home to sell in July was a $3.9 million home with 6,710-square-feet. This home was originally purchased for $1.05 million in February 2008, showing the inflation in the prices over the years. Other homes have seen similar raises in price, such as a 4,588-square-foot home in Siesta Key that sold for $3.5 million this year after being previously purchased for $2.2 million in 2009.
Sarasota market conditions and luxury property sales are determined as those sales for more than $1 million dollars, and are tallied via county and court records. Besides July, at least 35 luxury properties have occurred every month since March 2012, reaching a total of 171 sales of homes and condos for more than $1 million this year.
The Sarasota area consists not only of the mainland, but also keys within its boundaries, including Lido Key, St. Armands Key, Otter Key, Coon Key, Bird Key, and portions of Siesta Key. With more than 50,000 residents, it is a continuously booming cultural area.
To learn more about the luxury real estate properties available in Sarasota, you can visit Michael Saunders & Company’s website or call to learn more information.
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