SIESTA KEY TRENDS YEAR END 2022 941.928.3424 | judie.berger@premiersir.com homesofsarasota.com 7323
RD OFFERED AT $3.6M WHO YOU WORK WITH MATTERS
PINE NEEDLE
SIESTA KEY LUXURY MARKET OVERVIEW 2022 | OUTLOOK 2023
At the end of 2022, when compared to 2021 there were fewer sales, however, increasing average prices made up for a lower volume of unit sales. That will not be the case in 2023. The under $1,000,000 market continues to be the most active with the lowest inventory and luxury properties continue to be in high demand. Supply and demand drive the market - if demand and supply decrease at a similar pace, home values will remain stable. Currently, new listings are outpacing pending and sold listings, and days on the market have increased. Prices remain at higher levels but with more negotiation and seller concessions, and we are seeing price reductions on overpriced homes. The wildcards that could affect the real estate market as we move into the year are geopolitics, global trade, and mortgage rates. More people want to move to Florida than almost anywhere in the US and Sarasota is one of the top cities on the list. Migration patterns favor our area with an inflow of growth, especially in cities with a resort-type environment like Sarasota.
The real estate market in Sarasota presents a unique opportunity for buyers to find their dream home and sellers to find qualified buyers. This is an excellent time to take advantage of the market by working with a real estate professional who will provide an extraordinary level of service and guidance. With the right strategy and approach, you can be sure that your home selling or buying experience in 2023 will be a positive one. If you’re considering making a move, now is the best time to contact us to discuss selling or buying a home.
PENDING PENDING
Single Family Homes
$2,427,121
Average Sales Price Q4 2022
$2,094,580
As we look toward 2023, the real estate market in Sarasota presents a unique opportunity for both buyers and sellers. After the wild ride of the last two years, it is calmer, and we are not likely to see panic buying. In the first half of the year, we expect to see a return to a more normalized, equalizing market which will require a bit more patience and negotiation on both sides. The positive news is that with this normalcy, sellers will have the opportunity to prepare and showcase the true value of their homes and buyers will have more time to find the perfect property. It’s more important than ever that home sellers pay close attention to the pricing of their property to be reflective of location, condition, and view compared to other homes for sale. Buyers will be more discerning and selective; correct pricing will ensure that your property stands out from an increasing (and overpriced) housing inventory and will appeal to the right buyers.
Average Sales Price Q4 2021
15.88% Year Over Year
Condominiums
$923,164
Average Sales Price Q4 2022
$717,918
Average Sales Price Q4 2021
28.6% Year Over Year
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5315 HIDDEN
RD OFFERED AT $4.5M MIDNIGHT PASS RD OFFERED AT $2.995M 4947 COMMONWEALTH DR OFFERED AT $2.3M 713 TREASURE
WAY OFFERED AT $3.1M
HARBOR
BOAT
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If you’re considering a move and would like to discuss detailed information about market trends in your neighborhood with Siesta Key’s top-selling agent, please contact me for a confidential consultation; I look forward to discussing your real estate goals with you. For a full report on Siesta Key and the Sarasota-Manatee area that is sent regularly to my private client list, please contact me at judie.berger@premiersir.com or 941.928.3424.
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What our clients are saying...
“ It was our great fortune to have found Judie as our real estate agent. Her market knowledge of Sarasota and especially Siesta Key are unparalleled. We so appreciated Judie’s professionalism, responsiveness and kindness. Judie gained life-long clients and we gained a trusted friend. Judie is among Siesta Key’s very special treasures.”
- Megan & Chris Powers
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JUDIE BERGER, PA, ABR, GRI
1844 OLEANDER ST OFFERED AT $1.975M 6300 MIDNIGHT PASS RD #1101 OFFERED AT $1.6M 746 SIESTA DR $3.495M
SUCCESS
8415 MIDNIGHT PASS RD OFFERED AT $5.3M
Judie Berger, PA, ABR, GRI Premier Sotheby’s International Realty The Plaza at Five Points 50 Central Avenue, Suite 110 Sarasota, Florida 34236 $112 MILLION PENDING & SOLD IN 2022 © 2023 Sotheby’s International Realty Affiliates LLC. A Realogy Company. All Rights Reserved. Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. 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. Each Office is Independently Owned and Operated. SIESTA KEY’S TOP SELLING REALTOR ® SINCE 2005 No.1 CALL THE JUDIE BERGER TEAM TO JOIN OUR SUCCESS 1280 HIDDEN HARBOR WAY | $7M 778 SIESTA DR | $6M 3731 INDIAN BEACH PL | $6M 521 CASEY KEY RD | $5M 728 N CASEY KEY RD | $4M 3423 LA PALOMA AVE | $3.55M 7340 PINE NEEDLE RD | $3.5M | RECORD SALE 642 WATERSIDE WAY | $3.2M 5382 SHADOW LAWN DR | $3M | RECORD SALE 657 SIESTA DR | $2.5M 497 ISLAND CIR | $2.45M | RECORD SALE 614 AVENIDA DE MAYO | $2.275M 7840 MIDNIGHT PASS RD | $2M 1660 SUMMERHOUSE LN #101 | $1.925M 650 CALLE DEL OTONO #C | $1.7M 5354 SHADOW LAWN WAY | $1.7M 6150 MIDNIGHT PASS RD #40 A & B | $1.55M RECENTLY SOLD SIESTA KEY $6M SIESTA KEY $2.45M NORTH SIESTA KEY $3.55M SIESTA KEY $7M 941.928.3424 | judie.berger@premiersir.com 23 Years Connecting Buyers and Sellers Ranked in the Top 1.5% of Realtors ® in the USA For Your Professional Home Valuation - homesofsarasota.com