Office sales for An Island Place Realty have been off to a brisk start for 2014. Between Rita, Dennis and myelf, we have nine properties that have gone under contract, some already closed and others due to close soon.
On the island, the average sales price for 2013, as compared to 2012, rose dramatically. Single family homes rose 25%, condos 13%, multi-family 3%, and vacant land went up a whopping 84%. There is a noticeable difference in the amount of building going on in all three of the island communities. Lots that have been sitting empty for years are being built on. Inventory is at the lowest level in a decade, which is good for sellers but not for buyers.
Not surprisingly, with rising prices and island inventory low, six out of those nine properties are off-island.
Dennis’ clients are from Belgium, looking to spend six months out of the year in their new northwest Bradenton home. Rita just put a house under contract in northwest Bradenton for her buyers who had been renting a place while looking to buy. I found a beautiful condo in Perico Bay Club for her buyers, Bill and Cathie Balthazor, from Wisconsin, who originally were looking to find a place on the island. They are thrilled with their two-bedroom condo overlooking Sarasota Bay with panoramic views!
Another couple with whom I had been working over several years is Tom and Karen Uerling from the state of Washington. Every time they came to the area on vacation, they would look at places. This time they came, and I was thrilled they found just the place off the island with a large backyard and attached apartment to help supplement expenses. This will be their second home to escape harsher winters and be closer to their daughter and grandchildren who live in Bradenton.
And on it goes . . . ! I am currently looking in golf communities east of Bradenton and closer to Sarasota. Ron and Kathleen Hantman, from Connecticut, visited last year for their first time, and they weren’t quite ready to buy. This year, they are determined to find a place to escape the Connecticut winters, so I am really anxious to see what they find!