John Allen's Blog: Casey Key real estate

Sarasota Florida’s luxury real estate market of high-end properties has suffered just as other parts of the country, however we've found 11 sales in the $3,000,000+ range so far for 2009. From a high-rise condo on Longboat Key, an Indian Beach estate, to a gated mansion on the waterfront of New Pass, the high-end real estate market in Sarasota continues to post some impressive sales.

On the pristinely manicured island of Longboat Key, Florida, an elegant penthouse at the Water Club Longboat Key sold for $3,000,000. The list price was $3,495,000. We often tout the Water Club as the amenities are fabulous. The Clubhouse is approximately 17,000 square feet offering a social room overlooking the pool and beach. Residents can reserve this space for private…

Located just south of Siesta Key Florida, Casey Key is an exclusive area that is home to some of Sarasota's most extravagant and luxurious beachfront mansions. There are still some "old Florida" beach cottages that have not been rebuilt. There are no high rise condos or chain hotels on the island. The area is primarily composed of single family homes.

Real estate on Casey Key is quite expensive. Currently, the least expensive Casey Key home for sale is listed for $1,000,000. Prices go all the way up to $18,500,000.

February 2009 Real Estate Data for Casey Key

• Active Listings in the Sarasota MLS System: 52
• Least Expensive Home for Sale: $1,000,000
• Most Expensive Home for Sale: $18,500,000
• Average Listings Price: $3,736,296
…

The Sarasota Association of Realtors just released the latest market statistics for the Sarasota real estate market. All statistics were compiled on properties listed in the MLS as of November 2008. The stats show higher pending sales as we head into our "season." With the slow economy, we will probably see less visitors in our busy season which runs from January to May. The absorption rate for both condos and homes has reduced significantly from the 2007 data.

Click HERE for a PDF of the press release.

Click HERE for the new stats from the December issue of Sarasota Realtor Magazine.

Sarasota Florida is located 60 miles south of Tampa on the Gulf Coast of Florida. If you have any questions or if you would like to explore the Sarasota area further,…

Known for its "Old Florida" charm, Casey Key is one of Sarasota's simpler islands consisting of single family beach homes and just a few inns and cottages. There are no towering hotel chains or beach resorts here, only charming and luxurious estate homes. Casey Key homes for sale range from simple beach villas to sprawling Gulf front estates. Many homes have their own private beach.

With less than 400 homes, both full-time and part-time residents enjoy their private and quiet sanctuary away from the rest of the world. However, the island is only minutes away from all of the culture, shopping, restaurants and amenities Sarasota has to offer. It no wonder why so many high net worth individuals from around the world are drawn to this secluded area. One can…

Housing inventories on Casey Key have remained relatively stable. Inventory has declined approximately 12% compared to December of 2006. There are currently 40 properties listed for sale in the Sarasota MLS. Prices range from $849,000 to $20,035,000. In addition, there are currently 14 lots for sale priced from $795k to $6,990,000.

There have been two home sales in the previous two months. Below is information on these properties.

• 1716 Casey Key Rd.  Listed: $4,285,000 Selling Price: $3,800,000 Sold: 7-27-07
• 435 N Casey Key Rd. Listed: $2,475,000 Selling Price: $2,400,000 Sold: 8-10-07

Learn more about this exclusive island paradise at  - Casey Key real estate for sale. Here you can view detailed information, photos and virtual tours of all…