MARKET UPDATE:
SELLING LUXURY
By Sue Cullen
A
sure sign that Sarasota’s cachet still has its special sparkle is the resurgence of the luxury sector in the local real estate market. Multi-million dollar sales and the bustle of new construction along our sugar-white shorelines are validation that
Sarasota’s charms still hold an irresistible allure for affluent homebuyers–because nothing says luxury like a sweeping Gulf view. And while gazing at expanses of baby blue skies, azure waters, and pristine white sand are perennial attractions, today’s luxury market is seeing trends heading in interesting directions. Stephanie Church, a Broker-Associate with Michael Saunders & Company, is one of the area’s leading agents in luxury real estate both on the resale side and new construction. As the top selling agent in the Michael Saunders St. Armands Circle office for the past two years, Church has some savvy insights into luxury housing and the current market. “The luxury market has gotten back as close to its pre-recession state as it can be. One sign is that we’re seeing a lot more new construction being built on spec,” says Church, who holds the listings for a number of properties by Modus Custom Residences, a luxury residential waterfront developer and builder. “I recently sold two Modus pre-construction opportunities side by side within three months of listing. That has been unheard of. People are taking advantage of these opportunities where before they just sat.” July 2015
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