Focus On: Harbor Acres
Harbor Acres is an upscale neighborhood, west of the Trail, close to downtown Sarasota, Lido Beach, and Siesta Key beaches. Harbor Acres features a mix of new construction, waterfront homes and original ramblers and split level homes without water frontage.
The wide range of architecture and waterfront property versus non-waterfront property creates a wide range of prices in Harbor Acres. As of this writing there are 3 homes in Harbor Acres actively listed for over $5 million. However, since December 8, 2012, only 4 homes have sold in Harbor Acres, the most expensive being $1.1 million. This property was at one time originally listed for sale for $1,885,000, a dramatic price reduction of 29%.
See the report here by clicking here.
Some interesting information comes out of this data. One fact that jumps out is that a couple of brokerages control most of the listings. The second is that the median list price to sales price ratio is extremely low at 85%. This means that properties are either over priced when listed, or it's a buyer's market in Harbor Acres. The average LP/SP ratio for many Sarasota neighborhoods is 93-95%. Does the fact that so few brokers control the listings (and also represent the buyers in these transactions) attribute to the poor ratio? It's worth considering.
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| Harbor Acres, Sarasota FL map courtesy of Bing Maps |
The wide range of architecture and waterfront property versus non-waterfront property creates a wide range of prices in Harbor Acres. As of this writing there are 3 homes in Harbor Acres actively listed for over $5 million. However, since December 8, 2012, only 4 homes have sold in Harbor Acres, the most expensive being $1.1 million. This property was at one time originally listed for sale for $1,885,000, a dramatic price reduction of 29%.
See the report here by clicking here.
Some interesting information comes out of this data. One fact that jumps out is that a couple of brokerages control most of the listings. The second is that the median list price to sales price ratio is extremely low at 85%. This means that properties are either over priced when listed, or it's a buyer's market in Harbor Acres. The average LP/SP ratio for many Sarasota neighborhoods is 93-95%. Does the fact that so few brokers control the listings (and also represent the buyers in these transactions) attribute to the poor ratio? It's worth considering.
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