Today I am in Southside Village in Sarasota’s West of Trail to review the sales from the 3rd quarter of 2012, July through September. The summer is typically the slowest period of the year here in Sarasota, but even so, the number of properties sold increased by over 12% from the same period last year.

View my two minute video below – to discover which is the hot area of Sarasota luxury real estate:

Gulf Front Sarasota Property Leads the Market

Gulf-front in particular is seeing a resurgence of active buyers. The two listings I have been holding open, along the highly coveted section of north Siesta Key known as Big Pass, will close in the next two days. The least expensive property still available on this stretch of the beach is now $11.9M.

In Desirable Neighborhoods The Early Bird Gets The Real Estate Worm

A lack of inventory in the best neighborhoods means properties are going under contract within days. In this desirable Southside Village neighborhood – also referred to as West of Trail – I know of six recently listed properties that went under contract almost immediately…..two in two days, one in three days, two in six days, and the last in eight days.

Currently, there is about 12 months of inventory of property between $1-2m. I expect this number to decrease as we move into the busier buying season.

Finally….a note on Sarasota Short Sales

It appears that more short sale deals are getting done. The number of closings has edged up slightly from last quarter to about 1/3 of all closings. Which is still down from the same period a year ago.

Overall, as we enter the final quarter of the year, the market is looking good. But, as always, knowledge and timing are key. Buyers who are ready to commit are watching and waiting until the right match comes along, and then pouncing.

Can I help with any real estate questions? Call me at 941.587.0740.

On a recent afternoon I decided to take my book and chair and visit the Siesta Key Beach. As I sat down, I noticed around me multiple conversations, all in foreign languages: from Chinese to German.

View my video below to learn why I think this is good news for Sarasota:

Over the past couple of years, I have seen Sarasota experience notable changes, becoming a destination for the more cosmopolitan visitor and resident alike. In my opinion, that’s a wonderful indicator of our community’s growth.

At the same time, more well-traveled international guests bring with them other benefits: exerting greater positive pressure to have the resources and amenities to accommodate them. Which is good for all of us, residents and realtors alike.

The data from the Sarasota Convention and Visitor’s Bureau reflects my summer afternoon’s experience:

• A recent report indicated there are more international visitors to Sarasota this year than last.
• This year, the increase of European visitors per quarter has ranged from 16.3% to 37% over the same periods in 2011.
• International visitors to Sarasota stay longer and spend more money than domestic vacationers.

Don’t Forget – Cosmopolitan Sarasota’s Not Just A Summer Breeze….

One of the most consistent trends in Sarasota real estate is that most people who call Sarasota home – at least part of the year – started out as a visitor. And Sarasota remains immensely popular with international buyers and vacation homeowners.

After giving this some thought, I realized this year I’ve worked with individuals and families speaking French, German, Italian, Spanish, Japanese, and Chinese. I myself enjoy the multiculturalism of Sarasota every day. As a Certified International Property Specialist, it’s my great honor to help buyers from abroad achieve their dream of living in Sarasota, Fl or buying Florida luxury realty here.

From food, to music, to art and culture, international visitors and buyers bring so much to Sarasota, and are an integral part of the expansion of Sarasota living. Let’s talk more: 941.587.0740.

This month I’d like to talk about the line in the sand between buyers and sellers. That line is shifting a little bit, it’s not favoring buyers as it has for the past several years.

In the video below, I discuss how this affects the market and inventory, and how these changes have been reflected in Q2 2012.

Recently, I helped a family from Paris, France buy a condo on Siesta Key beach. While we thought that the offer that they made was a good one, the seller would not accept it at all. It was only when the buyer acquiesced and moved up to the seller’s price that we were able to get the deal done.

The price was still fair and it was good value, but it’s a symbol of what has happened over the last few months in the Sarasota real estate market.

Sarasota Real Estate Market Q2 2012 Ups and Downs

During the second quarter of 2012 from April to June the numbers came out like this:

• In the luxury segment, which is properties listed for $1m or more, we’ve seen a 22 percent increase in sales on the same period last year. And now there is less than 12 months of inventory available in the market
• The short sale and bank-owned area of the market has stayed steady since last quarter. About 1 in 4 properties which closed were bank-owned or short sale.
• In sarasota’s affordable segment – those properties listed less than $200,000 – there’s actually less inventory available than there has been. In fact, only 60 percent of sales were in this segment, which is indicative that prices are beginning to rise and there is less inventory available.

A Stabilized and Well-Informed Market

With stabilized prices and subsequently good information in the market, it is up to buyers and sellers to find their own lines in the sand. And regardless of which side of the line you stand on, there is a lot of movement in our Sarasota real estate market.
Any questions about the Sarasota property market? Call Lee: a href=”tel:+19415870740″>941.587.0740.

Human beings are creatures of habit, who like to do the same things and go to the same places over and over. Even in Sarasota, where there are so many incredible experiences to be had, it’s easy for us locals to get stuck in a rut.

Hidden Treasure and Adventure

This month I wanted to look at some of our local treasures with fresh eyes, so I enlisted the help of some visitors who do a lot of research and preparation in order to make the most of their limited vacation time in Sarasota.

The video below is filmed from a Bayfront home in Harbor Acres, right on Sarasota Bay and looking out over downtown Sarasota. This home is one of many which shows just what sets Sarasota apart.

As I’ve written about before, Sarasota’s waters are nothing short of spectacular. But they also offer a fascinating and truly educational experience for the whole family, as our intrepid Sarasota vacationers pointed out. Here are a few of the highlights:

Sarasota Bay Explorers at Mote Marine Eco-Cruise

Sarasota Bay Exporers

Sarasota Bay Explorers launches a 2 hour eco-cruise from Mote Aquarium to get up close and personal with what lives in the salt water. On our family’s recent adventure, the marine biologist’s catch was bountiful and included a stingray and puffer fish that we could touch.

Myakka State Park Airboat Tour

If freshwater is your thing, you can ride the Gator Gal or Myakka Maiden two of the largest air-boats in the world to see some of the 200 species of birds that frequent the park, including the Roseate Spoonbill and migratory Loons. However, the highlight for most is seeing and learning about the local Alligator population.

Myakka River Boat Tour

Sarasota’s Natural Preserves and Reserves – The Jewel in the Crown

Finally, the State of Florida has agriculture extension offices in almost every county. On any given Saturday in our area a Naturalist will guide you on a walking tour of the public land to describe the local flora, and fauna, discuss the watershed, etc. With over 200,000 acres in Sarasota, if we were to compare the amount of protected land in the county to the size of our national parks, we would be the 23^rd largest national parks. Our children are still talking about the nature walk as they learned so much.

This is just a small taste of some of the myriad experiences Sarasota offers visitors and residents. While our primary outdoor enjoyment comes on the sand of Siesta Key the Sarasota experience is far deeper, and the natural assets are an incredible and rare part of that. Just one more little-discussed reason people flock to own Sarasota investment property, and take full advantage of all there is to enjoy from our beaches, national parks, and waters.