The Neighborhood Report – The Sanctuary

Located behind the gates of the Longboat Key Club on the gorgeous south end of Longboat Key, the Sanctuary is one of the most desirable developments in the area. Set on 18 acres of beautifully landscaped grounds fronted by Longboat Key’s pristine beach, residents of the Sanctuary enjoy resort-style amenities. These include 24-hour security, Har-Tru tennis courts, a fitness center, clubhouse with full kitchen, swimming pool, lap pool and Jacuzzi.

Market Activity – The Sanctuary

There are currently five listings for sale in the Sanctuary ranging in price from just under $800,000 and up to $1,495,000. Spacious in size, the available condominiums all have three bedrooms with 1,823 to 2,590 square feet. In 2011, sales have been brisk in the Sanctuary, with two condominiums currently under contract and six sold so far this year. Both of the pending sales were listed by Michael Saunders & Company and range in price from $875,000 to $1,795,000.

Selling prices of the six condominiums that have sold this year have ranged from $785,000 to $1,500,000, and the square footage has ranged from 1,823 to over 3,000 square feet. Michael Saunders & Company is proud play an active role as a real estate representative of the community. At this time, we list four of the current properties on the market, and to have brought four of the six buyers to the Sanctuary this year to date—in addition to having 50% of the sold listings.

Carol Cohen from the company’s South Longboat Key Office has brought two buyers herself this year, more than any single agent. Additionally, Carol has placed one of her listings under contract in September. Both of the buyers that Carol has worked with this year have a history in the Sanctuary. One was a current resident looking for a larger condominium, and the other had been coming there with family since she was child. This is a testimony to the desirability of the Sanctuary as a home on Longboat Key.

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