If you need any more evidence that downtown Sarasota has pent up demand for luxury condos, consider this: A local developer plans to buy out all 14 owners in a bayfront complex, and pay to knock it down — just to build a new Condo building. Seaward Development plans to redevelop the Versailles, built in … Continue reading Downtown Sarasota Condo Building Boom Continues
Quay Sarasota Project Wins City Approval

A year of design and permitting work on the infrastructure and initial phases of the project will begin after the New Year. The massive mixed-use Quay Sarasota development received final city approval Monday night after years of planning. The potential $1 billion project will combine commercial, residential and office buildings on the long-vacant property and … Continue reading Quay Sarasota Project Wins City Approval
Florida welcomes 85 million tourists

Florida welcomes 85 million tourists in the first 9 months of 2016 It’s another record for the Sunshine State, according to Visit Florida. Florida had 26.9 million visitors from July to September and 85 million during the first nine months of 2016, the most tourists ever. The quarterly figure was up 5.1 percent from the … Continue reading Florida welcomes 85 million tourists
Market Preparing for Season

Increases in Inventory as Market Prepares for Season. The inventory of properties for sale in the two-county area is up by 17.5 percent from last year, and also shows an increase of 3.1 percent from last month, reversing the downward trend that started earlier this year. Year over year, single family home inventory in Sarasota … Continue reading Market Preparing for Season
Sarasota Officials to Discuss Rosemary Condos

The building boom north of downtown Sarasota is continuing, as the city’s development review committee this week will consider plans for a new five-story development in the Rosemary District. Rosemary-based architecture firm Halflants + Pichette has designed a 62-unit, mixed-use building at the intersection of Fourth Street and Cocoanut Avenue, which is slated to have … Continue reading Sarasota Officials to Discuss Rosemary Condos
Sales and Prices Up – Inventory Remains Tight

Sales and Median Prices Up Total closed sales in September in the two-county area are up 2.6 percent over September of last year, with single family sales up 3.8 percent, and condo sales down just under 1 percent. Single family home sales in Manatee County posted a 13.8 percent increase, while condo sales in Sarasota … Continue reading Sales and Prices Up – Inventory Remains Tight
Fewer Distressed Sales Indicate a Healthier Market

Sales of distressed properties in the two-county area continued to decline in August, down 53.9 percent from the same month last year. Distressed sales in August comprised only 5.8 percent of total sales compared to 12.8 percent last August. “This is an important fact to note,” says 2016 RASM President Linda Formella. “The sharp decrease … Continue reading Fewer Distressed Sales Indicate a Healthier Market
Benderson Marching Ahead with Plans for ‘Siesta Promenade’

Despite concerns from neighborhood residents and the state transportation agency, a Manatee County developer is marching ahead with plans for a mixed-use Siesta Promenade project at the busy U.S. 41-Stickney Point Road intersection. Benderson Development Co. filed a formal application Aug. 26 to rezone a former mobile home park to allow construction of 501 condo … Continue reading Benderson Marching Ahead with Plans for ‘Siesta Promenade’
Baby Boomer Retirees Fuel Latest Housing Boom

Boomer Fuel Housing Boom – Paced by relentless retiree demand, housing starts in Southwest Florida have roared to their fastest rate in nearly 10 years. Construction started on 1,492 single-family units in the region during the second-quarter, a nearly 18 percent gain over the year, according to a new report by data supplier Metrostudy. That … Continue reading Baby Boomer Retirees Fuel Latest Housing Boom
Hesitant Sellers Leave Buyers with Fewer Choices

Hesitant Sellers Leave Buyers with Fewer Choices – Median sale prices for condos and single family homes continue to increase in both Sarasota and Manatee County. Sarasota County single family homes are up 10.5 percent from 2015 to $242,500, while Manatee County experienced an 11.7 percent jump from 2015 to $279,250. Year over year, condo median sales prices rose … Continue reading Hesitant Sellers Leave Buyers with Fewer Choices