HELLO! Many of you have been reaching out to me wondering what the market is like at BAYSO. Well…..it may be better than what you think. Although my comments provided are general as one of my colleagues says there is always The Paul Harvey, “The Rest of the Story”.

Selling the building as a New Development project and now resale has allowed me to be an expert on the property of which you may know I am very, very, passionate about.

General Commentary –

Earlier in the year there were 20+ units on the market, not so unusual for a New Development project. Some purchased based on speculation, but the bottom line is life happens and things change. There was a lot of talk and chatter on the street from pretty much everyone regarding BAYSO and why there were so many units being listed. Honestly, it was really no surprise that many went to market pretty quickly as it is the nature of New Development.

Fast forward to April there are currently 16 Active listings and 5 resale units that have sold in the MLS in 2024 all in March/April. Of particular interest is the ratio of list price to sales price, which I would consider low (0.81 to 0.92) even after many price reductions. A good target is to list and sell with a ratio in the high 90’s. The bottom line is the market had to be defined, which again is expected. The good news is that prices are beginning to formulate in the community.

There are also 3 pending contracts of which one of them, Unit 708, I had the honor of listing. The Story of Unit 708 includes much more, but in general what I can tell you is once a unit at BAYSO is priced to market (plus the other factors) the buyers’ will come. The showings increase significantly and serious offers are made. As you may know, the majority of buyers in the Sarasota Real Estate Market are cash and BAYSO is currently reflecting this trend with 100% of the units sold in the resale market being cash transactions.

In Conclusion –

I appreciate many of you reaching out to me and love providing tidbits on the Story of BAYSO, or the luxury market in general. My personal opinion is there truly is an Art of Selling Luxury properties that is multi-faceted beyond what most would ever think. Especially in the day and age of continued advanced technology. The total value is best understood by further dialogue, specifics, and of course results.

Invitation-

Although I am not a fan of coffee, believe it or not, I actually LOVE a good latte in the morning with the complexity of flavors and additives to mask the actual taste of the coffee. And, I may be the only one in Sarasota you know that drinks a hot latte with a straw! What can I say?!? We all have our idiosyncrasies.

The best part is enjoying it with great company. I invite you to reach out anytime whether it is to catch-up or to begin working on building Your Story at BAYSO.