May 2024 Newsletter

May 2024 newsletter

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The current state of the Sarasota real estate market is a nuanced blend of growing inventory and moderating prices, which could potentially expand opportunities for buyers throughout 2024. There’s a noticeable shift in market dynamics as inventory levels rise; this gradual increase is tempering the rapid price escalation seen in recent years, moving the market towards a more balanced state between buyers and sellers.

 

The big news in Sarasota’s market isn’t what’s currently available; it’s what’s on the way. Between now and the end of 2025, the city will see 10 new mid and high-rise condos add roughly 1,700 units to the city’s inventory, not to mention the countless planned communities underway to the east and south of city center. Although supply chain issues still present minor setbacks, they have significantly eased compared to the previous year.

 

Sarasota’s luxury real estate is outpacing the Emerald Coast along the far western shores of Florida’s panhandle and on par with Fort Lauderdale and Boca Raton. An average of 10 homes per year over the prior three years have been above the $10 million threshold. And with inventory on the way, you can expect that number to increase. While there are fluctuations in the market, Sarasota’s robust economy and desirable lifestyle continue to attract buyers and investors alike.

 

I take great pride in cultivating relationships with my clients. Educating and finding value in any market is what has propelled my 44+ year career. There isn’t a day that I wake up and don’t appreciate where I live. Please call us if we can be of service.

QUICK STORM GUIDE

With hurricane season just around the corner, we wanted to share our Hurricane Information

card – you may find it a good resource to print and file away.

Contact us if you’d like to be added to our mailing list, and start receiving our Curated Content

cards.

BRUCE MYER GROUP JUST LISTED / NEW PRICE

BIRD KEY – $1,725,000

470 E. ROYAL FLAMINGO DRIVE | SARASOTA, FL

3BR/2BA | 2,480 SF | REMODELED POOL HOME ON LARGE LOT

BUTTONWOOD HARBOUR – $1,275,000

602 BUTTONWOOD DRIVE | LONGBOAT KEY, FL

3BR/3BA | 2,017 SF | BOATING ACCESS | SCREENED POOL LANAI

BEACHPLACE – $1,790,000

1055 GULF OF MEXICO DR., #605

2BR/2BA | 1,503 SF | DIRECT GULF FRONT

ISLANDER CLUB – $650,000

2295 GULF OF MEXICO DR., #64-S | LONGBOAT KEY, FL

2BR/2BA | 1,235 SF | 6TH FLOOR | BAY & GOLF COURSE VIEWS

THE MARK – $1,895,000

111 S. PINEAPPLE AVE., #1010 | SARASOTA, FL

2BR+DEN/2.5BA | 1,746 SF | BAY & CITY VIEWS | 10TH FLOOR

ALREADY PENDING SALE

LONGBOAT KEY TOWERS – $2,998,000

601 GULF OF MEXICO DR., #301-S

3BR/3BA | 2,420 SF | DIRECT GULF FRONT

ALREADY PENDING SALE

COUNTRY CLUB SHORES – $997,000

1180 BOGEY LANE | LONGBOAT KEY, FL

2BR+DEN/2BA | 2,180 SF | FURNISHED | LARGE FENCED YARD

ISLANDS WEST – NEW PRICE – $1,299,000

2525 GULF OF MEXICO DR., #11B | LONGBOAT KEY, FL

2BR/2BA | 1,491 SF | GULF FRONT

VIEW OUR ENTIRE GALLERY OF EXCLUSIVE LISTINGS ON OUR WEBSITE:

BRUCEMYER.COM

NEWS ROUNDUP…

Take the Survey…

The Sarasota/Manatee Metropolitan Planning Organization has initiated a public process to receive input to shape the future of regional transportation with a Phase 1 visioning survey open through June 15. Invest Today, Transform Tomorrow — the MPO’s 2050 Long Range Transportation Plan — is a three-phase project that serves as a blueprint for shaping the infrastructure of the region. Once complete, the plan will outline the key projects and investments needed to improve mobility, safety and accessibility across various transport modes, including roads, public transit and paths for pedestrians and cyclists.

To participate in the visioning survey visit SurveyMonkey.com/r/SMMPO.

Unique and Exclusive Concert Experience…

Whiteleaf Private Concert Club (WPCC) announced the launch of its exclusive celebrity concert series, offering a luxurious and private “suite” like concert experience in Sarasota, featuring celebrity concerts, first-class catering, and comedy. From Sheryl Crow to ZZ Top and everything in between, members will have a chance to get up close and personal to artists. WPCC is limited to only 275 members and operates on an invitation-only basis. One must be a member or a member’s guest to attend the events. For more information and to apply for membership, visit WhiteleafConcertClub.com.

St. Regis Announces Opening Dates…

The St. Regis Longboat Key is now accepting reservations for on or after October 1, 2024. Nightly prices range from $930 to over $1,800, depending on view and time of year. The resort encompasses 168 guest rooms, including 26 suites with terraces, and a Presidential Suite that offers four bedrooms and a dining room. Memberships in The Members Club at the St. Regis Longboat Key Resort are also available, for a non-refundable membership fee of $125,000, quarterly dues of $3,500, and an annual resort spend minimum of $8,000. 

FOR THE LARGEST COLLECTION OF EXCLUSIVE LONGBOAT KEY PROPERTY VIDEOS

SUBSCRIBE TO MY YOUTUBE CHANNEL: LONGBOATKEYFORSALE

FEATURED VIDEO

Country Club Shores

551 Putter Lane | Longboat Key, FL

FEATURED VIDEO

The Mark | Downtown Sarasota

111 S. Pineapple Ave., #1010 | Sarasota, FL

CLICK TO VIEW OPPORTUNITIES IN SARASOTA NEW CONSTRUCTION

VISIT BRUCE MYER WEBSITE
WHAT’S MY HOME WORTH

RANKED #10 COLDWELL BANKER INDIVIDUAL REALTOR IN THE NATION

TOP 1.5% OF REALTORS IN THE USA | OVER $78M PENDING AND SOLD JUST IN 2024