From Unique Homes Magazine: The Ultimate Resource for Luxury Real Estate | Design | Exceptional Lifestyles Summer 2015
Limited Inventory, Limitless Possibilities: America’s luxury waterfront offers the finest amenities in a finite market. by Stacey Staum, Excerpt
The Southeast has shown marked increases after taking an especially hard hit following the market dive in 2006. Experts have noticed increased sales as the result of increased employment opportunities and new development. Florida continues to offer a wide variety of waterfront offerings at a range of prices. Nick Farinella of Coldwell Banker Residential Real Estate explains that improvements in the economy and business expansion have been driving sales in the Cocoa Beach area, stating, “We have major companies in the area, and we expect 3,000 new jobs in the next two to three years. Companies are hiring again, so we have a really good outlook over the next five years.” Waterfront properties in the Cocoa Beach area range from $460,000 to $2.5 million.
Lynne Koy, of Coldwell Banker Residential Real Estate describes her market in Sarasota/Manatee County as very active, with about 30 properties listed for over $1 million. According to Koy, a wide demographic of individuals is buying, including baby boomers, Millennials, celebrities and international buyers. Home sales have improved both in volume and closing time; while high-end sales took about a year previously, closing are now occuring in 30-90 days. She shares three trends that she has noticed: “The total sales in Sarasota were the highest in the history of record keeping; the Sarasota/Manatee County area was recognized as having the highest number of cash transactions; and speculative building has returned, so there’s a lot of new development,” Koy is optimistic that these trends will continue in the coming years.