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Sarasota Bayfront Home Sells For $6.825 Million

Bayfront Properties Near Downtown Sarasota Have So Far Topped Sarasota and Manatee County Luxury Sales For 2015

A Bayfront home situated just minutes from downtown Sarasota sold today for $6.825 million, making it the second highest recorded sale of the year in the Sarasota-Manatee Counties market.

The Tuscan-inspired property, located at 1459 Bay Point Drive, is nestled between  Sarasota’s Harbor Acres neighborhood and its downtown Bayfront; affording it spectacular views of Sarasota Bay, the city skyline, Selby Gardens and the iconic John Ringling Bridge.  It was listed by Kim & Michael Ogilvie, of the Main Street office of Michael Saunders & Company; and sold to buyers represented by Bruce Myer with Coldwell Banker. 

“The market for luxury properties above $1 million in Sarasota and Manatee Counties has been very vigorous over the past two years.   That being said, most of the sales have been in the $1-3 million range, with 307 properties sold to date in 2015 alone,” says Kim Ogilvie. 

“Meanwhile of the 165 properties listed at between $3 and $6 million there have only been 27 closed sales; and only two closed sales out of the 32 properties listed above $6 million,” Ogilvie adds.  “Both of these properties as it turns out were newer, custom built homes on the Bayfront near downtown Sarasota; and both were sold only after having their prices reduced more than once.  What this says is that there are buyers actively searching the high end of our region’s luxury market, particularly for newly-built waterfront homes.  But sellers must be extremely careful to price them competitively.”