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(941) 544-3232

Siesta Key Condo Specialist
Geoff Rossman
(941) 544-3232

REALTOR®
geoff@geoffrossman.com
Re/MAX Tropical Sands
1211 Old Stickney Pt Rd, Siesta Key FL 34242


I've Sold More Condos On Siesta Key in 2008, 2009, 2010, & 2011 than any other Agent or Broker.

The Blog

Home   »   Geoff’s Blog
  • by:
    Geoff Rossman
  • on:
    April 14, 2012
  • in:
    Siesta Key Sales Report, Uncategorized

Siesta Key Market on Positive upswing

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This article was posted in the Sarasota Harold Tribune 4/14/12

Market indicators are positive on Siesta Key

By Michael Braga, Herald-Tribune
/ Friday, April 13, 2012

The following analysis was sent to the Herald Tribune:

When comparing a year over year 12 month trailing average since 2006, single-family home unit sales on Siesta Key have consistently risen (almost doubling since 2006) year over year in spite of overall market conditions.  Obviously, during 2007-10 average sales prices dropped dramatically, however they haverebounded by almost 30% off their low in 2009.  Even so, today’s average sales prices represent a 40%+ discount off the market high in 2006-7.

Siesta Key Single Family Homes
Year to Date Sales Comparisons on Siesta Key 2007 – 2012 04/01/06 to 03/30/07 04/01/07 to 03/30/08 04/01/08 to 03/30/09 04/01/09 to 03/30/10 04/01/10 to 03/30/11 04/01/11 to 03/30/12
Average Sales Price $1,613,504 $1,301,837 $1,101,523 $754,927 $884,335 $968,513
Median Sales Price $967,500 $909,500 $750,000 $555,000 $550,000 $632,500
Units Sold 75 91 113 139 148 147
Siesta Key Condominiums 04/01/06 to 03/30/07 04/01/07 to 03/30/08 04/01/08 to 03/30/09 04/01/09 to 03/30/10 04/01/10 to 03/30/11 04/01/11 to 03/30/12
Average Sales Price $769,014 $859,486 $524,859 $520,730 $450,611 $449,450
Median Sales Price $615,000 $655,000 $437,950 $380,000 $394,300 $350,000
Units Sold 115 190 194 227 234 292

 

Siesta Key condo unit sales have risen consistently year over year (over 254% since 2006) and have climbed over 25% in the past 12 months alone. On the other hand, average sales prices have continued to fall since the market peak in 2007, but seem to have tapered off in the last 12 months Today’s average Siesta Key condo prices are selling at almost a 50% discount off the market high.

Summary:

Continued strength in unit sales seem to indicate that buyers still love Siesta Key and have been taking advantage of the distressed market to acquire a piece of paradise. These numbers indicate that the ‘bottom’ of the Single Family Home market on Siesta Key is well behind us – but prices are still attractive. For condo buyers: there are still many opportunities, and unit sales indicate buyers are taking advantage of the current market. But as inventories drop, prices will stabilize and this opportunity may soon be gone as well.

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    February 23, 2012
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Inventory on Siesta Key is dropping, market is changing

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There were 32 pending properties on Siesta Key for January.  February already has 45 properties that went pending.  There are now only 295 Condos/Townhouses on Siesta Key for sale.  At the top of the market there were a little over 600 and at the bottom of the market there were about 99.  Right now, there are 170 Single Family Homes for sale on Siesta Key.   Sarasota has shown a 17% increase in pricing from last year to date.  We are definitely in a market change.  Call for more details. Geoff Rossman 941-544-3232

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    Geoff Rossman
  • on:
    February 20, 2012
  • in:
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Midnight Pass Speculation

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The last time I’ve seen the Marine Research team go out was when they were looking into opening Midnight Pass.  That obviously was shut down with the collapse of the market.  Maybe with things on the uptick, they are renewing the effort?  I will be watching this closely.

Marine Research – Turtle Lagoon 2/20/12 8:20am

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  • on:
    February 3, 2012
  • in:
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Siesta Key Sunrise February 3, 2012

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February 3, 2012 Sunrise over Little Sarasota Bay. Next to Ophelia’s Restaurant.

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    Geoff Rossman
  • on:
    February 1, 2012
  • in:
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February 1, 2012 on Siesta Key~ The day the snowbirds take over!

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We’ve had a small taste of the upcoming tourist season through December and January. Today is check in! The Island goes from about 4,000 people to about 20,000. (my guesstimate) With all those cars, anywhere you go will take 3 times as long. This is the day local’s start planning their travel times around tourists. We go to eat at 4pm to beat the “crowd” and forget eating at a Restaurant on the weekends. We don’t drive towards the beach anytime between 10a-4p. This is the time of year that I really do enjoy living on the South end of Siesta Key. I don’t have to wait in line to turn right from the South Bridge. Turtle Beach usually has parking available and the beach is less packed. We do appreciate the business Tourists bring and welcome everyone back, year after year! Just please remember, some of us here do work and as much as we know you enjoy sight seeing, please try not to drive 20 in a 40+mph zone or pull over and let us pass you so we can get to work to serve you!

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    Geoff Rossman
  • on:
    December 19, 2011
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Updated IDX Property Search

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Today this website went from an antiquated idx to an up to date idx.

What that means to you?

  • Complete lists of Property for Sale on Siesta Key
  • Mapping of Properties
  • Easier to Read

 

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    Geoff Rossman
  • on:
    December 9, 2011
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Christmas Lights in Siesta Key Village

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Christmas on Siesta Key

 Siesta Village

 Gabiano’s

   Salty Dog

 The Hub

   Jo-To

 Daquiri Deck

   Foxy Lady

 Crescent Club

 

 

 

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    Geoff Rossman
  • on:
    December 8, 2011
  • in:
    Siesta Key News, Uncategorized

Siesta Key Beach Improvements

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Faster work plans unveiled
Date: December 8, 2011
by: Rachel Brown Hackney | Managing Editor | Pelican Press

The Sarasota County Commission Tuesday approved a contract that could lead to the sequencing of Siesta Public Beach improvements from the summer of 2012 through the fall of 2014.

The Sarasota County Commission Tuesday unanimously approved a $1,377,421.85 contract for design and permitting services that sets the stage for the Siesta Beach improvements to be completed by the end of 2014 — 10 years earlier than the original timeline.

However, the commission asked James Harriott Jr., executive director of public works, and other staff to provide detailed information about how freeing up funding for a fast-track beach project would affect other construction plans, including the planned new Gulf Gate Library. Harriott said he would make such a presentation in January or February.

Harriott said he was optimistic staff would be able to find sufficient funding options.

Chairwoman Nora Patterson also asked for tweaking of the parking plans in the compressed construction schedule.

“It looks to me like (in) 2014, during high season, you’re going to have more of a deficit of parking than you actually have today,” she said. “That needs a little work. … I can hear the screams now.”

Patterson also asked whether the county would be losing money by approving the permitting services aspect of the contract Tuesday, if staff could not work out a funding plan for a 14-month or 16-month timeline.

“The contract is predicated on the idea that we would be making the run (in a shorter time), and we would need all those permits,” said Project Manager Curtis Smith.

However, if the compressed timetable did not work, Smith said he would return to the commission to make adjustments in the contract with the firm Kimley-Horn and Associates.

Harriott added: “The permitting work … would be more expensive if we didn’t plan for the 14-month construction time frame and had to redo these plans to get there.

In his presentation on the new proposed project phases, Smith said the stormwater drainage work is set to begin in the summer of 2012 and be completed by fall. The Southwest Florida Water Management District was willing to work with staff on extending a $990,000 grant to cover about half the cost of that work, Project Manager Spencer Anderson reported last week.

Phase 1 of the beach improvements would start after Easter in 2013, Smith said. It would include renovations of the eastern area of the parking lot and the playground/picnic area. A temporary picnic area would be placed on the beach, approximately at the midpoint in the length of the beach park.

During public comments before the discussion, former Siesta Key Association President Lourdes Ramirez said the picnic/playground area was a key component of the layout for the annual Siesta Key Crystal Classic Master Sandsculpting Competition, held in November. When Patterson asked if Smith had considered the Crystal Classic in the planning, he said staff had not done so.

“We will make sure we come up with a workable solution,” Smith said.

That first phase also would include the construction of the new tennis courts and maintenance facility; the current tennis courts would not be demolished until the new ones were ready for use, Smith said.

The new restrooms and concession area on the eastern side of the park would be built in that phase as well.

Phase 2, which would start in the fall of 2013, would focus on the middle of the main parking lot, Smith said. The work would be finished in the spring of 2014.

The third phase, with work under way from the spring to the fall of 2014, would include the last parking lot renovations and the restoration of the beach pavilion, along with the construction of a new concession area and the new public safety facility, Smith said.

Commissioner Joe Barbetta made the motion to approve the design and permitting services contract.

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November 1-30, 2011 Siesta Key Sales Report

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Siesta Key Condo Sales

 Subdivision Address

Bed

Bath

Sq Ft

Date Sold

Sold Price

*PALM BAY CLUB 5966 MIDNIGHT PASS RD # G-25

2

2

1040

11/3/2011

$500,000

CRYSTAL SANDS 6300 MIDNIGHT PASS RD # 606

2

2

1271

11/4/2011

$775,000

FISHERMANS COVE 8900 BLIND PASS RD # A203

2

2

969

11/7/2011

$330,000

SIESTA BAYSIDE SOUTH 9211 MIDNIGHT PASS RD # 6

3

2

1632

11/7/2011

$547,000

SIESTA DUNES BEACH 6208 MIDNIGHT PASS RD # 106

2

2

1150

11/9/2011

$690,000

LA SIESTA 925 BEACH RD # 210

2

1

753

11/10/2011

$285,000

MIDNIGHT COVE II 1600 MIDNIGHT COVE II PL # 411

2

1

860

11/11/2011

$265,000

ANCHORAGE 6415 MIDNIGHT PASS RD # 305

2

2

1287

11/15/2011

$315,000

SUNRISE COVE 8911 MIDNIGHT PASS RD # 210

2

2

1093

11/15/2011

$320,000

*MOORINGS 9084 MIDNIGHT PASS RD # 14

2

2

1388

11/15/2011

$300,000

ISLAND HOUSE 6150 MIDNIGHT PASS RD # 17

2

2

939

11/17/2011

$380,000

JAMAICA ROYALE 5830 MIDNIGHT PASS RD # 27

1

1

728

11/18/2011

$235,000

OUR HOUSE AT BEACH 1055 BEACH RD # B-201

2

2

1204

11/21/2011

$349,900

CRESCENT ROYALE 757 BEACH RD # 500

2

2

1181

11/22/2011

$455,000

*VISTA HERMOSA 113 VISTA HERMOSA CIR # 113

2

2

1165

11/28/2011

$215,000

VILLAGE WEST 5238 AVENIDA NAVARRA # 113

2

2

960

11/29/2011

$394,000

*SARASOTA SURF & RACQUET 5912 MIDNIGHT PASS RD # 103 C

2

2

830

11/30/2011

$285,000

*MOORINGS 9070 MIDNIGHT PASS RD # 13

2

2

1251

11/30/2011

$305,000

HARBOUR TOWNE 1341 DOCKSIDE PL # 225

3

3

2326

11/30/2011

$650,000

 Siesta Key Home Sales

Subdivision Address

Bed

Bath

Sq Ft

Date Sold

Sold Price

SIESTA BEACH 4651 HIGEL AVE

4

2

3134

11/1/2011

$950,000

HARMONY 4940 PEACEABLE WAY

3

3

2509

11/3/2011

$531,387

*SARASOTA BEACH 601 AVENIDA DE MAYO

4

3

3220

11/4/2011

$820,000

SIESTA REV 3911 ROBERTS POINT RD

2

2

840

11/11/2011

$292,400

SIESTA KEY VILLAGE 165 ISLAND CIRCLE

2

1

1034

11/15/2011

$285,000

Sarasota Beach 239 ISLAND CIR

3

2

1619

11/16/2011

$430,000

Bay Island Shores 775 FREELING DRIVE

3

2

1793

11/21/2011

$800,000

*SANDERLING CLUB 7222 MELALEUCA WAY

4

3

2955

11/22/2011

$610,000

SARASOTA BEACH 5515 CALLE DEL VERANO

3

2

1273

11/22/2011

$300,000

SIESTA BEACH 718 TREASURE BOAT WAY

3

3

1523

11/22/2011

$365,000

MIRA MAR BEACH 125 BEACH RD

5

5

3250

11/23/2011

$700,000

OCEAN BEACH REPLAT 4638 GLEASON AVE

3

2

1907

11/23/2011

$340,000

SARASOTA BY THE SEA 1140 SUN N SEA DR

4

2

1392

11/29/2011

$435,000

 

*Geoff Rossman’s Sales


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New Condo Signs On Siesta Key

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Siesta Key New Signs

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Siesta Key Blog

By:Geoff Rossman

Siesta Key Market on Positive upswing

This article was ...
Read More

Inventory on Siesta Key is dropping, market is changing

There were 32 pen...
Read More

Midnight Pass Speculation

The last time I'v...
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Geoff Rossman

Real Estate Professional

RE/MAX Tropical Sands

1211 Old Stickney Pt Rd
Siesta Key, FL 34242

Direct:

941-544-3232
geoff@geoffrossman.com

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