The Luxury Home Market Getting Stronger Every Day

 

The Luxury Home Market Getting Stronger Every Day

Posted by Marcia Salkin in Bird Key 19 Jul 2011

The luxury home market  getting stronger every day proven by an uber -luxury beachfront sale on Casey Key and all the construction going on in Sarasota’s finest neighborhoods.

Yesterday, was important day for Luxury real estate in Sarasota.  Our company closed on a luxurious 10,000+ sq. ft. beachfront estate for $7,575,000.  This was an extremely solid, high end home with impressive use of stonework throughout and all the accoutrements for a very refined lifestyle (gated and walled, 200’ of private beachfront, caretakers building).  

 

In yesterday’s Sarasota Herald Tribune there was an interesting article titledNew Spike in High End Homes”.  The article stated there were 14 luxury homes under construction on Bird Key with construction costs exceeding $14 million.  West of the Trail in Bay Point Park, one of my favorite neighborhoods, a 23,600 square foot Bayfront fortress is presently under construction with a land cost of $3.8 and recordable building costs of $ 4.2 million.

According to a new survey the Luxury Institute and the Institute for Luxury Home Marketing, “the number of wealthy households has jumped back to pre-recession levels and affluent home buyers are purchasing.  The National Association of Realtors (NAR) statistics show that national home sales at $1million and above were up more than 18% year-over-year in 2010”.

Luxury real estate in Sarasota is way above the National average.  Closed sales in Sarasota over $1 million is up 22% from last year at this time.

If you or anyone you know is looking to purchase or sell a waterfront home in the Sarasota, please call SalkinSoublis.  We are Luxury Waterfront Residential Specialists with a stellar 25 year track record.

Marcia Salkin can be reached at (941) 376-6121 and Paulene Soublis at (941) 356-0203.  Or visit our website at http://www.luxuryrealestateinsarasota.com

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