Marc Rasmussen's Blog: Just Sold

Longboat Key is an 11 mile long barrier island off the coast of Sarasota, Florida. The island is blessed with pretty beaches, fabulous condos, world class golf and tennis facilities and easy access to all of the amenities of Sarasota. Longboat Key is surrounded by the clear tranquil waters of the Gulf of Mexico and Sarasota bay.

There are many wonderful condos on Longboat Key. Here you can find a quaint one bedroom near the beach all of the way to a spacious, luxurious penthouse overlooking the beach and Gulf of Mexico.

Longboat Key Condos For Sale

• 432 condos for sale
• Highest asking price - $5 million
• Lowest asking price - $44,995 (boat slip)
• Average asking price - $831,874
…

Horizons West on Siesta Key is a great condo complex on the beach. It is made up of a villas and a mid rise. The condo units in the midrise all have a view of the beach and Gulf of Mexico. When you think of owning a vacation or winter home in Sarasota, Florida you think of this view. The villas at Horizons West feel like your very own beach cottage. There are no common walls so you have some privacy from your neighbors. You also are within a short walk to the world famous, award winning Siesta Key beach. This beach was rated the 2nd prettiest beach in the United States in 2009 by Dr. Beach.

Horizons West Sales in 2009

• 4 condos have sold in 2009
• Sales prices - $460,000, $520,000, $690,000,…

The above home in Lido Shores sold for $7,423,500. This is the highest 2009 residential sales price for a home in Sarasota. This home had five bedrooms, five and a half bathrooms and 6,580 square feet.

1301 Westway Drive

One of Sarasotas prettiest homes on the azure waters of New Pass in sought-after Lido Shores! This international designers home shows like nothing else in Sarasota with its elegant, but livable sophistication. Superb quality one expects in a home of this caliber is present everywhere: walnut floors, wonderful woodworking, stone terraces, 3 fireplaces. This is quiet luxury. Handsome 2 story living room, formal dining room, detailed library/media room, smashing kitchen opens to…

The Ritz Carlton Residences and Tower Residences are two flagship condos in downtown Sarasota, Florida. The Tower Residences is an 80 unit condo building adjacent to the Ritz Carlton hotel and residences. They enjoy all of the amenities of the hotel such as concierge, guest suites, spa, room service, fitness facilities, theatre, swimming pool and spa. The Ritz Carlton Residences are the 48 condos within the Ritz Carlton hotel building. Naturally, they enjoy the same amenities as the hotel guests.

Ritz Carlton Condos Sales Update

• 5 condos sold in 2009 for both buildings
• Lowest sales price - $800,000 - 1 bedroom, 1 bathroom, 1 half bathroom, 1,392 square feet
• Highest sales price - $3,300,000 - 4 bedrooms, 3 bathrooms, 1 half bathroom,…

I've noticed something interesting lately in Sarasota, Florida. Several beach front & bay front homes have recently gone under contract. Just off the top of my head I know of 3 beach front homes on north Longboat Key, 2 on Siesta Key, and a bay front home on Lido Key (shown above) for $8,999,000 have gone under contract. There also have been several homes and lots on the beach that have closed within the last 60 days. We just had a home on Bird Key close for $4.75 million.

Is the smart money buying?

Sarasota seems to be forming a bottom. The low end of the market is selling quickly. I cannot imagine prices will drop too much more in that segment of the market. If you ever wanted to get into buying…

Take a look at the home with the highest sales price in Sarasota in 2008. This is a 5 bedroom, 5 bathroom, 3 half bathrooms and 9,406 square feet on Siesta Key. It was a spec home that was taken back by a hard money lender. It was listed for $9,950,000 and it closed for $8,000,000. When it was listed you could have found it on my Sarasota foreclosure page. You can also find it using my Sarasota MLS search.

What was the highest sales price in your market? Only single family homes, no businesses or parcels of land.