Second Highest Recorded Sale Of The Year.
A bay front home situated just minutes from downtown Sarasota sold for $6.825 million, making it the second highest recorded sale of the year in the Sarasota-Manatee Counties market. The Tuscan-inspired property, located at 1459 Bay Point Drive, is nestled between Sarasota’s Harbor Acres neighborhood and its downtown bay front; affording it spectacular views of Sarasota Bay, the city skyline, Selby Gardens and the iconic John Ringling Bridge.
The home was listed by Kim & Michael Ogilvie, of Michael Saunders & Company, and was sold by Bruce Myer with Coldwell Banker.
“The market for luxury properties above $1 million in Sarasota and Manatee Counties has been very vigorous over the past two years. That being said, most of the sales have been in the $1-3 million range, with 307 properties sold to date in 2015 alone,” says Kim Ogilvie. “Meanwhile of the 165 properties listed at between $3 and $6 million there have only been 27 closed sales; and only two closed sales out of the 32 properties listed above $6 million,” Ogilvie adds. “Both of these properties as it turns out were newer, custom built homes on the bay front near downtown Sarasota; and both were sold only after having their prices reduced more than once. What this says is that there are buyers actively searching the high end of our region’s luxury market, particularly for newly-built waterfront homes. But sellers must be extremely careful to price them competitively.”
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