TWO SIGNIFICANT LUXURY HOME SALES SET RECORDS
Lido Shores and Longboat Key Top the Market
Michael Saunders & Company has closed two significant sales in the Sarasota luxury home market. Representing two of the highest sales in their respective areas, 1219 Westway Drive sold for $7,000,000 and 2251 Gulf of Mexico Dr. #501 sold for $5,400,000.
The highest sale in Lido Shores since 2013, 1219 Westway Drive was listed and sold by Deborah Beacham of the Michael Saunders & Company Downtown Sarasota office. The five-bedroom, six-bathroom home amassed over 7,415 square feet with 200 feet of gulf frontage.
The highest condominium sale of 2018 in Sarasota and Longboat Key, 2251 Gulf of Mexico Dr. #501 was listed by Tom Delaney of the St. Armands Circle office. The Aria penthouse featured over 7,800 square feet, a private rooftop terrace and custom upgrades throughout the residence.
“Deborah and Tom represent the very best in luxury real estate expertise,” said Michael Saunders, Founder and CEO of Michael Saunders & Company. “In this tightening market for luxury inventory it is almost assumed sellers would have an advantage, yet we are experiencing very savvy buyers looking for quality and value. It takes persistence and keen knowledge of the local market to bring sales together. We are very proud of all of our luxury agents and the accomplishments thus far in 2018 as this marks the fifth significant sale across the region for our team.”
April has been an exceptionally busy month in luxury home sales with 15 closings over $3,000,000, compared with 7 in the same period 2017.
“Interest is still very high in the market and serious buyers are engaging and looking,” said Deborah Beacham, a 15-year veteran in the real estate industry. “Last summer was one of our most productive summers for pending sales in the luxury market. I anticipate that demand to remain strong through 2018.”
The Aria sale presented what is likely to be an ongoing trend in condominium sales which is a desire for new construction. “Buyers continue to show a preference for contemporary spaces with resort-style amenities,” said Tom Delaney, also a Longboat Key resident. “The penthouse offering, along with the boutique nature of the building and the terrace amenities were highly coveted by prospects during the showings”.
Michael Saunders & Company is the market leader in luxury sales over $1 million for Sarasota, Manatee and Charlotte counties with a 27.6% market share in total sales volume. The two nearest local competitors have a combined 21% market share.