Sarasota Real Estate News

Tomorrow, I'll be doing an Open House from 1-4 p.m., on Siesta Key at 464 Island Circle, Sarasota, FL 34242.  This 2 bedroom, 2 bath home is 1,230 square feet and is listed for $699,000; an excellent monthly rental, this canal cottage has a private boat dock. It's a short walk to Siesta's public beach and Siesta Village with great restaurants and shopping.  Sarasota Beach subdivision has 519 single family homes, and according to the neighborhood statistics, most of the residents are age 65-69, with an average income of $100-$125k per year.  

The real estate market for this area is excellent, and more homes sell in the spring than the rest of the year.  Today there are 12 single family homes on the market from $639,000 to $1,750,000, and 14 have sold the past 12 months.  Average list price for the homes on the market today is $441 per square foot but the average sold price was $380 per sq ft, so that may indicate that the Sellers may not be motivated to sell.  They are in no hurry, living across the street from the beach or maybe the Sellers are not realistic in what they think their home is worth.  That happens!

Most of the homes have private pools, and half of them were built after 2000, which means that they must meet FEMA guidelines since they are in a flood zone.  The older homes (built in the 1950's/priced from $500-900K) can take 10 months or longer to sell, but the newer homes (priced from $900k to $1 million) sell in just 2-3 months in the Sarasota Beach subdivision.  A few years ago, we had mostly cash buyers, but that has changed and more than 2/3 of the homes sold the past year were financed.  

Happy to answer any questions you may have about Sarasota real estate.  Go to my website: www.PalmerRanchLindaHolley.com and search for 464 Island Circle by entering A4150739 on my home page.

Most sincerely yours,

Linda Holley