Sarasota, FL real estate expert Joel Schemmel gives his tips on what to do there during March, as well as the latest on the area's luxury real estate.
Photo Credit: Premier Sotheby’s International Realty
How has the luxury real estate market been performing in Sarasota so far in 2020?
The luxury real estate market in Sarasota County for single-family homes and condos priced at $3 million or above is ahead of 2019 in units sold. Single-family homes are up more than 25% and condos are up 50%. However, 2019 hit the higher price mark for both single-family homes and condos at $9,850,000 and $5,500,000 respectively compared to $4,925,000 and $4,250,000 this year. Sales are strong based not only on Sarasota being an amazing destination market, but also baby boomer migration and movement from high tax states. Also, Siesta Key Beach was ranked #1 in the nation for the second time and #11 in the world. Just another accolade for Sarasota.
What are buyers looking for in their homes in Sarasota in 2020?
Functional space and quality! Buyers are focused on functional space vs. size. Gone are the days of bigger is better and now it is about well-designed floorplans with minimal wasted space. Quality has always been important but now with the focus on functionality and less space, it is even more critical. Buyers are willing to pay for quality!
Photo Credit: Premier Sotheby’s International Realty
Which has been the highlight sale for you so far in 2020?
We closed on an amazing home on the bayfront in Sarasota in late January. The property at 7350 Captain Kidd was completed in 2016 and offers incredible panoramic views of the open water. Reiterating the focus on functionality and quality, this home is a testament to the new trend towards the Great Room and open kitchen concept! Quality is apparent with every finish selection throughout the home.
New restaurants or other hot spots?
Drinks on the rooftop of the Art Ovation Hotel in downtown Sarasota is a great way to enjoy a sunset. If you stay into the evening the same venue turns into one of Sarasota’s hottest night clubs. If you want something a little more low-key then wander over to O Leary’s Tiki Bay for a little live music and the opportunity to dip your toes in the bay. They are even dog-friendly.
Spring Break fun activity?
Spring Break is upon us! First and foremost, it has to be the beach for fun. Siesta Key Beach is ranked #1 in the nation for the second time in 2020. If the white powdery sand and stunning sunsets are not enough, how about a pickup beach volleyball game on one of many sand courts. There is also the Drum Circle on Sunday nights on Siesta Key – watch people gather and dance to the beat of the drums. If you want a little more adventure, try the guided kayak tours on Lido Key. These tours will lead you into majestic mangrove tunnels in search of wildlife and the relaxing sounds of nature. Always a crowd pleaser and fun for all ages.
Photo Credit: Premier Sotheby’s International Realty
