Sarasota Harbour

Sarasota Harbour Condominiums are located just over Ringling Causeway from Downtown Sarasota. The units of Sarasota Harbour have beautiful views of Sarasota’s Downtown waterfront and the Ringling Bridge. The location is within walking distance to downtown, St. Armands and Lido Beach. This is a great place to live if you enjoy boating, beaches and the amenities of downtown Sarasota.  Despite high inventories elsewhere, there are only a few units available at Sarasota Harbour.  Contact me at 941-650-4626 and I will let you know about these and others as soon they become available at Sarasota Harbour.

Sarasota Condominiums For Sale

Here is an update on the total numbers of available condominiums on the islands of Longboat Key, Lido Key and Siesta Key.

• Longboat Key – 414
• Lido Key – 114
• Siesta Key – 384

Lido Key Real Estate 2008

Now that 2008 is behind us let us review the real estate activity on Lido Key.  At the year’s end there were 54 homes for sale on Lido Key ranging in price from $425,000 to $11,300,000.  The average price of homes for sale on Lido Key was $2,257,527 at year’s end.  The lowest priced canal front lot on Lido Key is $998,500.  During the course of the year that was 2008, 22 homes were sold at an average price of $2,044,659.  On average, the 22 homes sold for 86% of their asking prices.  The highest priced single family home was sold for $6,387,500 and the lowest sale was $538,000.

During 2008 there were 24 condominiums sold on Lido Key.  The highest sale was $2,375,000 and the lowest condominium sale was $185,000.  On average the condominiums garnered 87% of their asking prices.  At the years end there were 108 condominiums for sale ranging in price from $100,000 to $4,495,500.

Storm Shutters Reguired on Coastal Homes Valued at $750,000.

Beginning January, Citizens Property Insurance Corp will require all single family homes with values of $750,000 or more which are located in high-risk coastal areas known WBDRs or Wind Borne Debris Regions to have storm shutter protection that meets the current codes. This requirement is to be without regard for the age of the structure. It will effect only those properties with structures valued at $750,000 or more. With most coastal properties values being mainly based on the land this requirement will effect less home owners than one would imagine. Those property owners who will be forced to upgrade their storm protection will find some solace in the reduced premiums they may receive after the required upgrades are completed.

For more information, click here to read the requirements posted on the Citizens Property Insurance site.

Longboat, Lido, Siesta or Casey Key?

White sugar-sand beaches, sophisticated arts, world-class shopping, five star resorts, country clubs of distinction, legendary fine dining and community events coupled with the areas natural beauty and year-round good weather are just a few reasons that Sarasota ranks among the nations 15 most livable communities, according to Money Magazine. Located on Southwest Florida’s Gulf coast, the Sarasota area is a paradise unto its own.

Sarasota is blessed to have three very distinctly varied island lifestyles.  Longboat Key and Lido Key tend to be more formal while Siesta Key and Anna Maria are more laid-back and casual.  Casey Key is exclusively residential and private.  Which is your favorite Sarasota island?

Sarasota Condominiums For Sale

Current inventories of available condominiums in Sarasota remain generally high but the good deals are selling fast and many of the best deals are selling above the asking price.  One of my client just made an offer on a newly listed two bedroom two bath condominium at Palm Bay Club at $5,000 over list price and was beat out by another bidder.  Further indication that the market if picking up steam is the fact that I personally have sold three condominiums this month on Siesta Key.  There have been many listings that have come on the market at good prices and were snapped up immediately.  Currently there are:

• 530 condominiums for sale on Siesta Key
• 119 condominiums for sale on Lido Key
• 477 condominiums for sale on Longboat Key

I am continually looking for undervalued properties for my investor clients.  If you are looking for only the very best deals, give me a call.

The Orchid Beach Club on Lido Key

The Orchid Beach Club Condominiums on Lido Key are among the finest beachfront condominiums in our area.  A must see for anyone looking for the finest in upscale beach front living. The quality of the amenities and the residences meet or exceed that of the Ritz Carlton Beach residences which are also on Lido Key.  The Orchid was completed in 2005 incorporates all the latest hurricane codes and energy efficient construction techniques.  The views of the Gulf of Mexico, Lido Key, Sarasota Bay and downtown Sarasota are fantastic.  Currently there are from 9 units for sale out of the 54 at the Orchid.  The average price at the Orchid is $3,196,833 and the range is from $1,750,000 to $7,800,000 for a 5,987 square foot penthouse unit. (Click here for virtual tour)

You can click here to view a complete details of each of the available condominiums.

Ritz-Carlton Condominium Update.

Currently, there are 18 units available at the Ritz on Lido Key.  Prices range from $1,875,000 for a 3,057 square foot unit to $4,850,000 for a 4,194 unit.  Prices vary based upon view and location within the building.  You can click here to view the full details on each of these available units.  At the Ritz-Carlton in downtown Sarasota, there are units available ranging in price from $1,349,000 for a 2,990 square foot unit to $5,295,00 for a 4,704 square foot four bedroom unit.  You can click here to view the full details on each of these.

Although the Ritz-Carlton lifestyle is not within everyone’s budget, the properties at the Ritz represent some of the best values in luxury Sarasota condominiums.  The average price per square foot at the Ritz-Carlton Beach Residences on Lido Key is $887 and the average price per square foot a the Ritz downtown is $716.  By contrast, there are 92 luxury condominiums priced at $1 million or more on the market on Longboat Key and on Siesta Key there are 102.  The average price per square foot of these is $773 and $844 respectively.

Related Websites:

• The Ritz-Carlton Sarasota 
• The Ritz-Carlton Membership Club
• Lido Key Condominiums
• Siesta Key Condominiums
• Longboat Key Condominiums
• Sarasota Condominiums

Suncoast Offshore Grand Prix

This year’s Suncoast Offshore Grand Prix boat race will take place on Sunday, July 1st.  The races which will begin at 11:00, can be seen just off the beaches of Lido Key.  If you have never seen the Suncoast offshore Grand Prix before you won’t want to miss it.  Some of the fastest boats in the world will be competing.  The races which have been held in Sarasota for 23 years have raised more then 8 million dollars for local charities.  Click here to view a picture gallery of last years race.

Related Websites:

• www.superboat.com
• www.suncoastoffshore.org
• www.offshoresuperseries.com

Condominium Inventory

Condominium inventories on Sarasota’s barrier island have been slowly declining this year.  The high inventory levels peaked earlier this year in Feburay.  The improving market is a testiment to the desirability and draw of the islands.  In contrast condominium inventory levels have been rising in some parts of Manatee County.  Current inventory levels on the islands are as follows:

• Longboat Key; 446 units averaging $898,942
• Lido Key; 130 units averaging $1,344,465
• Siesta Key; 569 units averaging $789,749

Orchid Beach Club Lido Key

The Orchid Beach Club Condominiums on Lido Key are among the finest beachfront condominiums in our area. A must see for anyone looking for the finest in upscale beachfront living. It is on par with the Ritz.  The amenities are numerous and common areas are first class.  The Orchid, completed in 2005 incorporates all the latest hurricane codes and energy efficient construction techniques.  The views of the Gulf of Mexico, Lido Key, Sarasota Bay and downtown Sarasota are fantastic.  Currently there are from 11 units for for sale out of 54 at the Orchid.  Prices range from $1,475,000 to $7,800,000.  Click here to view the full details of each of the condominiums currently available at the Orchid Beach Club.

Update Island Condo Inventories

There are good deal to be found right now on the islands of Lido Key, Longboat Key and Siesta Key.  There are many condominiums for sale right now so it is difficult to weed out the good from the bad but if you know what to look for there are some very good deals.  In the past two weeks there has been a net increase of just a few units Lido & Longboat Keys but inventories on Siesta Key have dropped from 607 to 587.  Current inventories on the three islands are as follows:

• Longboat Key, 514 units at an average price of $956,308.
• Lido Key, 150 units ant an average price of $1,325,420.
• Siesta Key, 587 units at an average price of $826,637.

Longboat, Lido & Siesta Key Inventories

There are good deal to be found right now on the islands of Lido Key, Longboat Key and Siesta Key.  There are many condominiums for sale right now so it is difficult to weed out the good from the bad but if you know what to look for there are some very good deals.  Current inventories on the three islands are as follows:

• Longboat Key, 504 units at an average price of $952,061.
• Lido Key, 147 units ant an average price of $1,330,754.
• Siesta Key, 607 units at an average price of $808,489.

Lido Key Condominium Prices.

I am often asked about the condominium markets on Lido, Siesta and Longboat Keys.  Today, I client asked for information about Lido Key so I though I’d post it here. 

 Currently there are 145 condominiums for sale on Lido Key.  The average price is $1,325,330.  The highest price is $7,800,000 and the lowest price is $289,000.  There are 11 units under contract and an additional 5 have sold since the beginning of the year.

• Click here to view the lowest priced condominiums with full Gulf views.
• Click here to view a complete list of currently available condominiums on Lido Key.