Emphasizing Sarasota’s climate and year-round activities, an advertisement promoting Kensington Park stated that it was “not a dream or a ‘someday’ promise but an actual reality.”  The heart of Kensington Park, its community center, proved this statement to be true as it offered something for everyone.  Residents enjoyed the Olympic size pool where the “Aquabelles”, a women’s synchronized swim team, performed and where swim meets were held.  Residents also used the shuffleboard courts, picnic areas, and playgrounds.  The indoor clubhouse was the site for card parties, square dances, civic meetings, and stage plays.  The most popular annual event was the community luau.

Kensington Park reflected the guiding principles of Paver Construction Company: “Build better than the building codes require and create a place where you would like to live and raise a family.”  In 1962 Good Housekeeping magazine awarded Kensington Park with a citation for “Good House Building and Excellence of Architectural Design, Land Development, and House Planning.”  The Paver family continued to build residences throughout the county, becoming an integral part of Sarasota’s development history.

Courtesy of Sarasota History Alive!

There are several restaurants in the village: The Cortez Kitchen, Star Fish Company and the recently opened Swordfish Grill which we decided to try. They have a large area of outdoor seating right on the bay complete with a modified tiki bar. The menu has a good variety with an emphasis on fresh fish  as you would expect.

They bring in fresh Florida oysters from Apalachicola and have them served raw or cooked in many different ways. I’m told they raw oysters were quite good. I ordered the crabcake sandwich which was a pleasant surprise as they are made inhouse and the predominant ingredient was Crab! The fresh catch was mahi and you could order it prepared any way (grilled, blackened, fried). Marty enjoyed it grilled and served on a ciabatta bun.

They have a full bar and great selection of beer so if you’re looking for a place to spend an afternoon or evening on the water check it out. We were glad we did!

Our spring weather is perfect so it’s a fun time to take in one or more of the many events and adventures in and around Sarasota! Check out just a few of the activities happening during the month of May: 

Call us when you are ready to make your move! To search for homes in the area go to Search for Sarasota Homes. We’re here to help you every step of the way…call us today!

The Sarasota real estate market saw sales climb to a seven-year high in March 2012, with 831 properties changing hands during the month. Not since September 2005 has the local real estate association seen sales at that level. In addition, pending sales (which represent properties that went under contract during the month) reached the highest level in 12 month, another good indication that the current market surge will continue in the next few months.

“This is amazing news, and our local brokers and agents should be extremely proud of all their hard work and diligence, helping buyers and sellers make their dreams come true,” said SAR President Laura Benson. “The strength that the Sarasota market has demonstrated in the past few months has been remarkable, and I’m looking forward to a continuing resurgence in local real estate. Property sales drive so many other elements of the local economy, and that means more jobs, higher salaries, and a better overall community.”

In addition to the high level of sales – 596 single family homes and 235 condos sold – the median sale price for both categories hit a high for the year in March. The median sale price for condos was $192,000, a level not seen since May 2011, and was 11 percent higher than last March. Single family was at $174,900, a level not reached since June 2011, and 9.8 percent higher than last March. The reason for the price resurgence is likely tied to the lower number of distressed property sales. The total number of distressed sales, foreclosures and short sales, fell to only 32 percent from 37.4 percent in February 2012 – a three-year low.

Pending sales continue to soar, which signals a likely continuation of a high number of closings in the next 60 to 90 days. A total of 1,191 properties went under contract in March 2012, a level not seen since last March.

Another positive sign was the drop in the available inventory of homes on the market. The number fell to 4,463 from February’s total of 4,588. The level is close to the decade low figure of 4,408 in August 2011, and the combination of high sales and low inventory has dropped the months of inventory to eight-year lows.

Not since 2004 has the market seen a figure of 4.8 months of inventory for single family homes and 6.7 months inventory for condos. Lower inventory and higher sales normally result in greater competition for available properties, which tends to push prices up.

“It’s great to see that we’ve come so far from the days of 2008, when the months of inventory hit 25 months for single family and 40 months for condos,” said Benson. “The real estate agents who stuck with it through those difficult months are certainly glad they did, now that we’ve turned the corner.”

Single family home prices are now 21.4 percent higher than the low of the market reached 13 months ago, while condo prices are almost 30 percent higher than the low point.

Currently, only 701 properties for sale in the MLS are distressed listings (short sales and foreclosures), or roughly 15 percent of the market. In February 2012, the figure was 740 (16 percent of the market), and in January 2012 it was 812 (17 percent of the market). If this percentage continues to trend lower, we could begin to see median sales price increases going forward.
“The Sarasota market appears to be leading the nation into a new, dynamic period in real estate,” noted Benson. “While no one can predict the future, certainly all the vital signs of the economy have been moving in the right direction for many months, so I’m very hopeful we will see continued growth in our area.”

Click Here for the Press Release and Statistical Charts

The artists will line Ocean Boulevard with their professional display booths while the crafters will display their unique and affordable crafts throughout Siesta Key Village for a sidewalk craft fair. All artists and crafters will be present for the duration of the show, available to discuss their work and inspiration. Ocean Boulevard will be closed to vehicular traffic starting at Ocean and Canal and running through to Beach Road.

Pending sales in the Sarasota real estate market hit an 11-month high in February 2012, demonstrating once more the health of the local industry as the buying season heats up. Median sale prices were also up substantially for single family homes and condos in February 2012 compared to this time last year – another positive sign for a successful home buying season.

“I have heard nothing but positive reports from our members about the seasonal surge in our real estate market,” said SAR President Laura Benson. “Sales are up, prices are stable and much higher than last year at this time, and we are seeing multiple offers on many transactions. Pending sales are off the charts – we hit a 11-month high of 1,130 in February. This is all very encouraging news.”
The January 2012 holiday sales lull didn’t last long. The 177 condo sales in February represented the highest level in the last eight months. If pending sales, which represent properties going under contract, produce the expected level of closed sales, we could see a major selling month in March 2012. That could repeat what we saw in March 2011, when sales hit the highest total since 2005.

Overall, February 2012 saw a 15 percent increase in property sales over January 2012, and a 17 percent increase in pending sales from the previous month, both reaffirming numerous verbal reports of a very busy spring selling season in Sarasota. Closed sales stood at 414 for single family homes and 177 for condos, lower than in February 2011, but higher than last month. In February 2011, 471 single family homes and 201 condos were sold.

The single family home median price climbed to $167,500 in February 2012 from last month’s figure of $162,000. For condos, the figure fell to $150,000 from the January level of $180,000. Last February, both single family homes and condos were selling at the median price of $137,500, so both of the current numbers reflect a stronger market than a year ago. Single family home prices were a whopping 21.8 percent higher than in February 2011. Condo prices were 9 percent higher than last February.

The inventory for February stood at 4,588, down almost 5 percent from January’s 4,711, and 20 percent lower than last February’s total of 5,864. With fewer available properties, the law of supply and demand indicates asking prices could be climbing higher in the coming months.

The inventory hit a 10-year low of 4,408 in August 2011, and has remained at or close to this low level since then. As the inventory has slid, the months of inventory has also dropped. The figure now stands at 7.2 months for single family homes, compared to 8.3 last month and 8.0 months in February 2011. The figure was 9.1 months for condos, compared to 11.3 months in January and 10.4 months last February. A figure of 6 months is considered equilibrium between a buyer’s and a seller’s market.

Distressed property sales continued to represent a higher percentage than normal in the local market in February 2012, with 37.4 percent of all sales from bank-owned foreclosures and short sales. But the figure was a drop from the 40 percent total in January 2012, and far below the record high of over 50 percent in the second quarter of 2010.

Currently, only 740 properties for sale in the MLS are distressed listings (short sales and foreclosures), or roughly 15 percent of the market. Last month at this time, the number was 812 out of 4,711 homes and condos on the market, or about 17 percent. If this percentage continues to trend lower, we could begin to see median sales price increases going forward.

“The lower number of distressed property sales, and the decreased number of foreclosures and short sales available will likely mean greater competition and higher asking prices,” noted Benson. “We are all hoping for a return to historic levels of distressed properties, which would be less than 5 percent of the market. But until that day, our members will continue to educate themselves on the existing market and help customers make sensible decisions.”

Today, many people look at the Marina Jack restaurant and boat docks and think they have always been here. Not so…They are just beyond where the Scots landed and built our first pier.

Courtesy of Sarasota History Alive!

Courtesy of Sarasota History Alive!