Wednesday, August 6, 2014

Manasota Key Real Estate Update

What in the heck is going on with Manasota Key single family luxury home sales?

Here are some telling statistics for Manasota Key single family luxury homes, from Gnarled Oak Estates north:

                                                        Jan 1-Aug 1 2014             Jan 1-Aug 1 2013

Median List Price                              $1,695,000                       $1,499,000
Median Sales Price                            $1,250,000                       $1,355,000
Median SP/LP ratio                           83%                                  91%
Median $/Sq Ft                                 $431.38                            $411.52
Median Days on Market                   198                                   100
# Properties sold                               7                                        9

Wow.  Two things come to mind when I see these kinds of numbers in what is otherwise a strengthening Sarasota/Venice/Englewood real estate market.

1) The huge increase in time on the market is a failure of marketing.
2) The huge decrease in median sales price, and the amount off list price that sellers and their agents are negotiating, is also a failure of marketing.

Is it possible that the handful of Realtors who are listing Manasota Key real estate could be doing a better job?

If you are planning to sell your Manasota Key home in the near future, I invite you to discuss what my tag line, "When you're ready for something new", means when it comes to customer service and Berkshire Hathaway HomeServices Florida's innovative marketing for luxury homes.

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