3935 Shell Road
Offered at $6,500,000
YOUR SIESTA KEY EXPERT
YOUR SIESTA KEY EXPERT
2012 Siesta Key Year-End Luxury Real Estate Report I am pleased to present my annual review of key market indicators that have impacted real estate values on Siesta Key in the past year. I am providing this information to forecast market trends that are likely to occur in 2013. I believe the only way buyers, sellers and homeowners can make informed decisions is to have the most current and comprehensive information available. As a 17-year Siesta Key resident, I understand the significance of having accurate, detailed information that is specific to our island. Historically, both the housing market and economy have been cyclical. After years of declining real estate values, a turnaround in the market is at hand. My analysis of the indicators reflect mixed results for 2012 when compared to a year earlier. Sales activity on most of the islands increased, and inventory levels remained stable or decreased. Average sales prices varied by island—Bird Key, St. Armands, Lido Key, Siesta Key and Venice Island showed an increase in average sales prices. Overall, data suggests that a significant recovery is underway in real estate values on Sarasota’s islands. Should you have questions about information contained in this report, or if you would like to receive my first quarter update, please contact me. Looking forward to a successful 2013! All the best,
Judie Berger
REALTOR®, P.A., ABR, GRI Top Producer on Siesta Key Premier Sotheby's International Realty
941.928.3424
2005–2012
judie.berger@sothebysrealty.com homesofsarasota.com
ISLANDS REAL ESTATE REPORT 1 Anna Maria Island
In 2012, inventory levels dropped to an 8-month supply and average prices decreased slightly. This indicates that prices should begin to stabilize (as they have with homes valued at over $1 million), due to the drop in inventory levels.
1
2 Longboat Key
Sales activity in 2012 remained flat despite a strong increase in prices. This is probably due to the fact that inventory levels remain high. Excessive inventory levels of properties priced over $1 million could lead to additional price declines in 2013.
3 Bird Key
2
Sales activity and prices remained flat in 2012 as compared to 2011. Inventory has increased slightly, but still remains at a healthy level compared to other island areas. As these trends continue, expect to see a full market recovery in 2013.
4 St. Armands and Lido Key
4
The luxury markets are improving, and as we continue to see the surrounding areas improve, this luxury area will continue its recovery as well.
3 4 5
5 Siesta Key
Siesta Key still has a higher than average number of homes for sale (8-month supply versus a normal 6-month). However, sales activity and prices increased significantly last year as compared to 2011. Expect to see stronger sales activity followed by rising prices as inventory levels decline further in 2013.
6 Casey Key
6
Strong sales activity has led to an increase in prices. Expect price stabilization to continue and sales activity to remain strong in 2013.
7 Venice Island
Strong sales activity in 2012 led to an increase in prices. Inventory levels have stabilized at a normal 6-month supply of homes for sale. Expect sales activity and prices to show an increase in 2013.
8 Manasota Key
7
Inventory levels decreased slightly but still remain very high. This situation will likely lead to continued price declines until inventory levels drop further.
8
Sarasota Islands – 2012 Comparison to 2011 Sarasota Island
% Change in Sales
Current Listings
Month’s Supply
Average Price
Anna Maria Island
+38%
145
8
-5%
Longboat Key
+0%
114
15
+5%
Bird Key
+17%
21
6
-5%
St. Armands/Lido Key
+19%
28
10
+41%
Siesta Key
+13%
119
8
+13%
Casey Key
+11%
33
20
+4%
Venice Island
+20%
62
6
+17%
Manasota Key
+17%
88
39
-18%
SIESTA KEY SINGLE-FAMILY HOMES – 2012 Comparison to 2011 Price Point Under $500,000 $500,001 to $1,000,000 $1,000,001 to $2,000,000 $2,000,001 to $4,000,000 Over $4,000,000
Total
Year
Homes Sold
Current Listings
Month’s Supply
Average Price
2012
55
3
1
$373,742
2011
61
15
3
$339,068
Change
-10%
-80%
-67%
+10%
2012
75
38
6
$703,844
2011
61
65
13.4
$715,737
Change
+23%
-42%
-55%
-2%
2012
18
34
23
$1,480,278
2011
15
40
34.3
$1,560,148
Change
+20%
-15%
-33%
-5%
2012
20
24
14
$2,936,700
2011
14
24
20.6
$2,412,857
Change
+43%
0%
-32%
+22%
2012
4
20
60
$4,256,250
2011
3
17
68
$5,083,333
Change
+33%
+18%
-12%
-16%
2012
170
119
8
$1,016,165
2011
151
161
12.9
$895,863
Change
+13%
-26%
-38%
+13%
A selection of homes SOLD by judie berger IN 2012 Siesta Key
1229 Point Crisp Road List Price: $3,200,000
Siesta Key
701 Treasure Boat Way List Price: $1,500,000
Siesta Key
1245 Sea Plume Way List Price: $1,295,000
Bird Key
524 North Spoonbill Drive List Price: $1,195,000
West-of-the-Trail
1529 Eastbrook Drive List Price: $999,950
Siesta Key
Siesta Key
631 Waterside Way List Price: $995,000
757 Tropical Circle List Price: $799,000
Siesta Key
West-of-the-Trail
1240 Northport Drive List Price: $950,000
Anna Maria Island
641 Key Royale Drive List Price: $949,000
Bird Key
618 Owl Way List Price: $850,000
Siesta Key
5440 Avenida Del Mare List Price: $759,000
1919 Grove Street List Price: $799,000
Siesta Key
550 Commonwealth Place List Price: $749,000
Siesta Key
5300 Ocean Boulevard #903 List Price: $699,000
Siesta Key
5585 Contento Drive List Price: $699,000
Siesta Key
823 Edgemere Lane List Price: $499,000
Siesta Key
1008 Glebe Lane List Price: $469,900
Siesta Key
823 Edgemere Lane List Price: $499,000
Siesta Key
5911 Midnight Pass Road #201 List Price: $315,000
Siesta Key
1257 South Portofino Drive #208 List Price: $264,900
941.928.3424 – judie.berger@sothebysrealty.com ©2013 Premier Sotheby’s International Realty. All rights reserved. This material may not be reproduced, displayed, modified or distributed without the express prior written permission of the copyright holder. Premier Sotheby’s International Realty is a holding of The Lutgert Companies. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered service marks used with permission. Each office is independently owned and operated. Equal Housing Opportunity. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Based on information from Mid-Florida MLS for the period January 1, 2012 to December 31, 2012. These properties were not all listed and/or sold by Premier Sotheby’s International Realty and were listed and/or sold by various MLS participating offices. Information deemed accurate but not guaranteed. *Source: BrokerMetrics® and proprietary data. Sales volume of residential homes, condominiums and vacant land that listed, closed and recorded in MLS plus proprietary records.
FEATURED LISTINGS
*co-listed with Brian Wood SIESTA KEY
SIESTA KEY
SIESTA KEY
4 bedrooms, 4 full baths, 1 half bath, 4,471 square feet under air
6 bedrooms, 6 full baths, 1 half bath, 7,637 square feet under air
4 bedrooms, 4 full baths, 1 half bath, 5,537 square feet under air
LAKEWOOD RANCH COUNTRY CLUB
SIESTA KEY
SIESTA KEY
6 bedrooms, 5 full baths, 1 half bath, 5,351 square feet under air
4 bedrooms, 3 full baths, 4,112 square feet under air
3 bedrooms, 2 full baths, 1 half bath, 3,063 square feet under air
3935 Shell Road $6,500,000
13211 Palmers Creek $1,895,000
7508 Midnight Pass Road
$2,700,000
709 Treasure Boat Way $1,595,000
5831 Riegels Harbor Road $1,950,000
5415 Azure Way $1,299,000
SIESTA KEY
SIESTA KEY
SIESTAS BAYSIDE – WATERSIDE WOOD
5 bedrooms, 3 full baths, 1 half bath, 3,384 square feet under air
3 bedrooms, 4 full baths, 3,783 square feet under air
4 bedrooms, 3 full baths, 3,396 square feet under air
452 Canal Road $1,195,000
5411 Avenida Del Mare $1,175,000
4568 Woodside Road $1,100,000
LONGBOAT KEY – COUNTRY CLUB SHORES
SIESTA KEY – siesta isles
SIESTA KEY – SIESTAS BAYSIDE
3 bedrooms, 3 full baths, 2,427 square feet under air
3 bedrooms, 2 full baths, 1,804 square feet under air
3 bedrooms, 2 full baths, 2,082 square feet under air
530 Yardarm Lane $1,050,000
5229 Cape Leyte Drive $849,000
625 Tremont Street $849,000
Judie Berger Premier Sotheby’s International Realty The Plaza at Five Points 50 Central Avenue, Suite 110 Sarasota, Florida 34236
Trust the Power of the Premier Siesta Key Expert Judie Berger and Premier Sotheby’s International Realty “As an attorney for over 30 years in New Jersey and Pennsylvania, I’ve represented hundreds of clients in real estate transactions. Judie has represented me in Siesta Key transactions. In my opinion, a real estate professional’s experience, unsurpassed knowledge of the marketplace, competence and utmost integrity are prerequisites of the best of the best…Judie defines them all.” —Joseph Honer, Siesta Key, FL and Media, PA “After moving 13 times, without a doubt, Judie is the best REALTOR® we have ever worked with. She listened, was meticulous, and offered valuable knowledge through the entire process. As good as Judie is at all the other REALTOR® skills, she shines as a negotiator. As sellers, we couldn’t be happier.” —Peter and Mary Gravelle, Siesta Key, FL and Plymouth, MA “Our friends and neighbors were absolutely astounded at Judie’s professionalism, creativity and knowledge of what needed to be done—from staging the house for sale to identifying the right buyers. We highly recommend Judie to anyone who is serious about buying or selling homes…she is fabulous.” —Walter and Marian Kristlibas, Siesta Key, FL and Pearl River, NY
Top Producer on Siesta Key Local knowledge. Global connections. 660 offices in 47 countries. 19 locations along the Gulf Coast.
941.928.3424
judie.berger@sothebysrealty.com When it comes to real, measurable performance, the facts speak for themselves. Along the Gulf Coast of Southwest Florida, no one sells more luxury properties than Premier Sotheby’s International Realty. In fact, no one even comes close.