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The Murray Group
SELL . BUY . LIVE. 941.365.1837
City Island Park at dusk, Sarasota Florida
Message From Bev

Bev Murray of The Murray Group

February has brought us low humidity and countless sunny days. The beaches are already busy and the outdoor dining patios of downtown restaurants are packed with snowbirds enjoying the warmth and hospitality of our vibrant small city.

As promised, this month we bring you a review of the 2016 real estate sales market for Sarasota County:

2016 – Another Bumper Year, with Inventory on the Rise...

Halfway through 2016 the Herald-Tribune reported that total closed sales for the Sarasota –Manatee County area were down 4.6 percent compared to the first 6 months of 2016. The pace of sales rallied slightly in the second half of the year to end up at a marginal 2.6 percent lower than 2015 for both counties. Given that 2015 was a record –breaking sales year, such a moderate decline in total sales is very positive, and 2016 sales levels remain higher than the 2011-2014 period.

In Sarasota County, there were 7,825 closed single family home sales in 2016, a decrease of 6.3 percent on the previous year, and 3,603 closed condo sales, 4 percent less than 2015.

Median sales prices rose 11.4 percent for single family homes, and 7.7 percent for condos. The increase can be attributed not only to continued tight inventory levels, but also because the number of distressed sales (bank-owned, foreclosures and short sales) in the lower price brackets has dropped dramatically, by a staggering 57 percent in the Manatee-Sarasota County area.

Sellers, Take Note...
2016 saw a 22 percent rise in the number of single family homes for sale, and a staggering 38.5 percent increase in condos. A 6 month supply of inventory is considered a well balanced market. Sellers, take note: the supply of inventory has risen over 28 percent in the single family home market to 4.5 months’ worth. Condo inventory has increased from 3.4 months’ worth in 2015 to 5.5 months in 2016. As the market approaches the 6 month mark, the power will shift in favor of the buyer, who will have more options to choose from and better bargaining power. All evidence points to a continued rise in the amount of inventory in the market, which may squeeze values and prompt sellers to review their price points when they are truly ready to sell.

To view more details about the 2016 annual reports:
click here for single family homes
click here for condominiums


New Listing – Award Winning Model
The Intrepid II
8008 Bowspirit Way Lakewood Ranch Florida 34202

Hot on the heels of the award-winning Resolute and Intrepid models at the Lake Club, Murray Homes will unveil its brand new 3300 sq. ft. model, The Intrepid II, in April. The model will be open on Staysail Court in the Lake Club, but we also have this beautiful half acre lakefront lot for sale at 8008 Bowspirit Way it is the perfect size and location for a brand new Murray Home.


Under Contract in Central Park
Lakewood Ranch
Under Contract in Central Park Lakewood Ranch - 702 Claremont Park Drive

4702 Claremont Park Drive - Located in the private Claremont section of Central Park, this charming family home is situated on a scenic lake lot, has open floor plan with 3 bedrooms/3 baths, private pool, and was offered at $386,500.

Central Park is a secure-gated community named for the gorgeous park located at its center where you’ll often see residents walking with their pets, children riding their bikes, and friends gathering. The neighborhood is located close to great schools, and minutes to I-75. It’s just a short drive to Lakewood Ranch Main Street, UTC Mall, and about 25 minutes to the beach.

Ken and Katina Shanahan

For more information about Central Park or other Lakewood Ranch Communities,
contact Ken and Katina Shanahan at 941-702-0443 or


Real Estate Market Update

“A balanced market is driven by supply and demand and favors neither the seller nor the buyer,” maintains Xena Vallone, president of the Realtor Association of Sarasota and Manatee (RASM). “If the market is strong and balanced, buyers have more choices and sellers have a larger pool of buyers.”

The Sarasota property market is more balanced and healthy than it has been in several years, with inventory levels at or near 6 months’ supply for both condos and single family homes.

Single Family Homes - January 2017 vs. January 2016
- Pending sales up 8 percent
- New listings up 12 percent
- Inventory (months) = 5
- Closed Sales down 8.8 percent
- Median Sales Price up 8.5 percent
- Time to Contract (time it takes to sell) increased 17 percent

Condos – January 2017 vs. January 2016
- Pending sales up 11.2 percent
- New listings down 3 percent
- Inventory (months) = 5.9
- Closed sales up 14.8 percent
- Median Sales Price up 10 percent
- Time to contract (time it takes to sell) increased 60 percent

Single Family Homes

  January 2017 January 2016 % Change
Closed Sales 474 520 -8.8%
Cash Sales 196 242 -19.0%
Pending Sales 731 676 8.1%
New Listings 1,110 991 12.0%
Median Sale Price $250,000 $230,500 8.5%
Median Days To Contract 41 35 17.1%
Active Listings 3,254 2,694 20.8%
Month Supply of Inventory 5.0 3.9 28.2%

Condos and Townhouses

  January 2017 January 2016% Change
Closed Sales 248 216 14.8%
Cash Sales 155 154 0.6%
Pending Sales 377 339 11.2%
New Listings 555 572 -3.0%
Median Sale Price $239,900 $218,000 10%
Median Days To Contract 53 33 60.6%
Active Listings 1,794 1,411 27.1%
Month Supply of Inventory 5.9 4.5 31.1%
News & Events
Circus Sarasota Winter Performance

Legendary Nik Wallenda will headline a show that features an impressive array of international circus artists. Tickets are $15-$55

When: February 10-March 5
Where: Big Top Tent. 140 University Center Drive.

Insane Inflatable 5K

A dynamic and extreme obstacle race, made up solely of inflatable obstacles.

When: March 4. 8:30 AM
Where: Premier Sports Campus at Lakewood Ranch

Fairy House Festival

A fun-filled family event, spread throughout our 30 enchanted acres! Enter our fairy house competition, enjoy musical performances, storytelling, enchanted garden walks, games, crafts, and vendors.

When: March 4. 10:00 AM
Where: Historic Spanish Point

Fruitville Grove Berry Festival

Free admission and free parking. Craft booths, face painting, a rock wall, bounce house, mini train rides, food, an Easter egg hunt (12pm Sat. & Sun.).

When: March 11, 12, 18, & 19 from 10:00AM – 4:00PM
Where:Historic Spanish Point


Directed by original lyricist and director Martin Charnin and choreographed by Liza Gennaro, this production of Annie will be a brand new incarnation of the iconic original

When: March 14. 7:00 PM
Where:Van Wezel

First Watch Sarasota Half Marathon

Sarasota’s longest running half marathon. The event helps raise money for St.Jude Children’s Research Hospital.

When: March 19. 6:30 AM
Where:Van Wezel


This triumphant hit musical is the recipient of six Tony Awards®, two Olivier Awards, a Grammy®, thousands of standing ovations and now the #1 longest-running American Musical in Broadway history

When: March 24. 8:00 PM
Where:Van Wezel

Sarasota Honey Bee Festival

2nd annual Honey Bee Festival sponsored by Saraota Honey Company and Sweetgrass Farms. Tour this hydroponic farm. Vendors and crafts, live music, puppet shows, kid zone, local artisans. U pick strawberries.

When: March 25. All day
Where: Sweetgrass Farms. 8350 Carolina St. Sarasota

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