Michael Saunders & Company has released its first quarter market update for 2017. The information is available on the company’s blog and also in a YouTube video presentation featuring Michael Saunders & Company President Drayton Saunders.
After several years of strong recovery and a stable year throughout 2016, the company predicts that the Sarasota region is positioned for long-term growth throughout 2017 and beyond. The first quarter report also detailed several notable trends in the current market, including a desire for homes that have been upgraded to look and feel new, a healthy increase in inventory bordering on a buyer’s market, and the impact of pricing to meet the changing mindset of buyers.
“Compiling our first quarter report gives us a glimpse into what the year may hold, and we are very encouraged by the stable and upward trend that we see in the Sarasota region. With thousands of new residents choosing to call Sarasota home each year, we are seeing our part of the west continue to gain share of mind for those looking at the Florida market,” said Drayton Saunders. “The macro trend in the luxury market is picking up strength. The fundamentals of price and condition apply at all price points. Part of our success in the luxury market is understanding the importance of constant communication. Market expertise requires deep historical knowledge, as well as real-time feedback around the expectations of the ever more discerning buyer.”
Sales in luxury real estate throughout the Gulf Coast region are up by more than 18 percent from the first quarter of last year, but the average sales price has dropped slightly. This further illustrates the importance of market pricing, said Saunders.
Michael Saunders & Company outpaced the market in the first quarter, with a 22 percent increase in luxury sales throughout Sarasota, Manatee and Charlotte counties. Its agents were involved in 35 percent of all luxury sales during the first quarter of 2017, with sales prices that exceeded $6 million.
Michael Saunders & Company agents recently assisted both seller and buyer in the highest-priced condominium sale on Longboat Key for $5.25 million, and the company handled a record re-sale in The Lake Club in Lakewood Ranch for $4.6 million. Michael Saunders & Company also obtained a record single-family listing for a Venetian-inspired estate inside the exclusive Longboat Key Club for $26.5 million.
“With many desirable areas to choose from, we are seeing luxury buyers from across the globe develop growing interest in the Sarasota area,” said Michael Saunders & Company Founder & CEO Michael Saunders. “We are fortunate to have a highly qualified and respected team of agents who are trusted by buyers and sellers alike, and we have been incredibly pleased with their outstanding performances so far this year.”
To access the Michael Saunders first quarter market report, visit www.michaelsaunders.com/blog. To learn more about Michael Saunders & Company, call (888) 552-5228 or visit www.michaelsaunders.com.