Siesta Key Florida remains a world destination for many people looking for a tropical getaway and fun in the sun. With powder white sand and the emerald green waterways of the Gulf of Mexico it is pure paradise most just can’t seem to resist. As a resident of the Sarasota area for the past 25 years I can certainly relate to each and every visitor and their desire to seek out the relaxing beaches, shopping, and fantastic restaurants. I am often indecisive on where I want to dine. We have so many fabulous restaurants to choose from it can be a difficult decision! I guess this explains why luxury waterfront homes are still selling in these economic times on Siesta Key. Currently there are 40 waterfront homes for sale on the Sarasota MLS priced from $1.5-3.5M. We have 22 waterfront homes for sale priced from $3.5M+ on Siesta Key with the most expensive luxury waterfront home listed at $9.8M. 23 luxury waterfront properties sold on Siesta Key in the last 12 months priced between $1.5-3.5M. Distressed properties only represented 2% of the market share of the luxury homes sold on Siesta Key in the last 12 months. 4 properties priced above $3.5M successfully closed in the last year on Siesta Key. Financing can be difficult to obtain in this upper tier market, but cash is still king on the key. 1 short sale successfully closed for $3M and the highest recorded sale this year closed at $6.425M in the exclusive Sanderling Club where there is a $20,000 initial fee to join the Sanderling Club.
I see a growing trend for builders seeking out lots to build new homes and buyers looking to purchase new homes in the Sarasota and Manatee County area. This is a positive sign and I look forward to continual growth in the market, especially in the high end luxury waterfront homes segment of the market.