[1]Upscale Home Market Beginning To Show Positive Movement In Sarasota, Florida.
The luxury market is showing signs of moving; locally, nationally and internationally. Consider sales of an Aspen $43 million cash deal, $25 million California teardown transaction and globally a record-breaking sale of a $57 million apartment in Hong Kong.
Timing couldn’t be better.
In Coldwell Banker’s Southwest Region the upper-end market remained active in the off season months. Naples delivered 15 sales over $1 million in October alone. The Sarasota real estate market, typically trending behind Naples, is now showing progress on the luxury front. For example in October Roger Pettingell recorded sales totaling $8 million while Lynne Koy had four sales in excess of $5 million.
“When inventory was at historic highs in 2006, there was always another home to consider,” said Sue Wolverton, Coldwell Banker Residential Real Estate Regional Senior Vice President of Southwest Florida. “The same is no longer true with some homes receiving multiple offers. It is exciting to see the recent improvement in upscale homes.”
Photo: Sue Wolverton
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