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The Murray Group
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Message From Bev

Bev Murray of The Murray Group

Last month we gave ourselves a big pat on the back because the Resolute Model at the Lake Club in Lakewood Ranch won the top prize in its category at the prestigious Aurora Awards.

Established in 1979, Aurora Awards are presented annually to outstanding builders, planners, architects, developers, designers, interior merchandisers and other housing-related professionals.

According to Aurora Award Chairman Drew Smith, “Aurora Award winners reflect our industry’s best, brightest and most innovative architects, designers, and builder/developers.”

We are honored that the Resolute has been chosen out of 300 entries from twelve southeastern states and the eastern Caribbean.

Our second model home “The Intrepid” also won an Aurora Award in the single family detached home 3,000-3,499 sq. ft. category.

Sarasota Luxury Home Builder Murray Homes earns two awards at The 35th Annual Aurora Awards for their Staysail Court models, The Resolute and The Intrepid.


Drones Are Cleared For Takeoff

The use of drones, or Unmanned Aerial Vehicles (UAVs), in real estate has skyrocketed in recent months. From 2014 the Federal Aviation Authority AA had placed a ban on all commercial drone activity so realtors had to rely on commercial pilots to take aerial photography or video of their new listings. Being able to use a drone made the process much more flexible and convenient, because it is less expensive and not so weather-dependent.

The new FAA rules allow commercial UAV activity with certain operational limits on height and speed, keeping the drone in the line of sight, and the need to have a remote pilot certificate or be supervised by someone with a certificate.

Here in Florida, aerial photography is a highly effective tool for marketing properties, and allows buyers an understanding of a home’s location in relation to bodies of water, golf courses, nature preserves, etc.

You can expect to see widespread use of aerial shots and videos in residential and commercial listings in the future.


Real Estate Market Update

Market Update

We are definitely seeing a shift from the frenzied seller-driven market of the past couple of years. The number of pending sales, which is a strong indicator of future closed sales, has been declining since the beginning of 2016. July’s single family homes sales figures are 22 percent lower than the previous year, and condo sales are down 24 percent. Inventory levels, the number of homes on the market, have been steadily creeping up since January, an increase of 19 percent from July 2015.

Technically, it’s still a seller’s market, but there are sure signs of the pendulum swinging in favor of buyers. A recent survey by, 4 percent of buyers stated that the main obstacle when purchasing a home was finding one that suits their needs. If there were greater inventory to choose from, sales would be higher because buyers would be more likely to place their home on the market if they were able to find a new one that met their needs. This all makes sense.

Right now the median sales price in our market continues to rise (10 percent for single family homes and 8 percent for condos in Sarasota County) but the rate of that increase July slow as more inventory trickles on to the market. The luxury home market, defined as properties sold for more than $1million, is holding steady; 178 $1million+ residential homes and condos have sold year to date, compared with 181 in the same period last year.

Single Family Homes

  July 2016 July 2015 % Change
Closed Sales 680 868 -21.7%
Cash Sales 233 343 -32.1%
Pending Sales 460 606 -24.1%
New Listings 757 835 -9.3%
Median Sale Price $263,000 $229,500 14.6%
Median Days To Contract 45 41 9.8%
Active Listings 2,797 2,340 19.5%
Month Supply of Inventory 4.2 3.3 27.3%

Condos and Town Homes

  July 2016 July 2015% Change
Closed Sales 255 338 -24.6%
Cash Sales 151 203 -25.6%
Pending Sales 205 255 -19.6%
New Listings 316 256 23.4%
Median Sale Price $205,000 $190,000 7.9%
Median Days To Contract 58 49 18.4%
Active Listings 1,504 1,041 44.5%
Month Supply of Inventory 5.1 3.4 50.0%
News & Events
YMCA Venice Triathlon

The Venice YMCA hosts a triathlon each fall on a closed course that moves from the Sharky's on the Beach through downtown Venice.

When: Saturday, Sept 3. 6:00 AM
Where: Sharky’s on the Pier

70th Annual Labor Day Regatta

Featuring all levels of competitive sailing. Free to public.

When: Saturday, Sept 3. 9:00 AM
Where: Sarasota Sailing Squadron

Mote $6 Saturdays in September

For every Saturday in the month of September (3, 10, 17 and 24), Florida residents of all ages can receive admission into the Aquarium for $6.

When: Every Saturday in September
Where: Centennial Park in downtown Venice.

International Literacy Day

Donate a gently used book or Present a library card for free entry.

When: Saturday, Sept 10
Where: Oscar Scherer State Park

IndiaFest of Manasota

Onstage cultural performances and Indian food vendors from Sarasota and Manatee. Entry fees: $3 for adults and kids under 5 are free.

When: Saturday, September 10
Where: Bradenton Convention Center

Ski-A-Rees Water Ski Show

Free to public.

When: Sunday, September 18 at 2:00 PM
Where: Ken Thompson Park

Free Family 5K race/Walk

All fitness levels welcome. For more information, visit

When: Saturday, September 24. 8:00 AM
Where: Nokomis Beach Plaza

National Public Lands Day

Free park entry. Come learn about all the great opportunities we have in the park and community.

When: Saturday, September 24. 9:00 AM
Where: Oscar Scherer State Park

Why Choose The Murray Group
Why Choos The Murray Group?
Why Choos The Murray Group?
Why Choos The Murray Group?

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