The Neighborhood Report – St Armands Circle and Lido Key

Located just off the mainland and downtown Sarasota, St. Armands Circle and Lido Key make a unique community of single-family homes and condominiums amid a string of world-class shopping venues.

Just over the magnificent Ringling Bridge and you enter the historic and beautiful St. Armands Circle, where 130 stores on the circle pamper customers from all areas of the United States and many foreign countries. These stores range from fine shops to restaurants, as continental flavor and charm grace this synthesis of past and present. Adding to the casually elegant atmosphere, lush tropical plantings surround visitors and future home owners.

A tropical haven perfect for outdoor activities, Lido Key offers great beaches, deepwater boating, kayaking around Otter Key, and a lovely 100-acre park at its southern tip overlooking Siesta Key. The lifestyle options on the key are varied, as it offers direct Gulf of Mexico condominiums, modest single-family homes/duplexes, and luxurious bayfront estates. Both St Armands Circle and Lido Key provide a unique experience to visitors and home owners. In addition, the area has easy access to downtown Sarasota’s culture and famous restaurants.

Market Activity – St. Armands Circle and Lido Key

Activity on St. Armands Circle and Lido Key has been brisk, as all price ranges of homes and condominiums are being purchased and put under contract. In the last 30 days, we have seen six new listings—two single-family homes and four condominiums—ten new pending listings and four sold listings. There are currently 78 total active listings in this area.

A perfect example of this aggressive market is illustrated by the sale of 165 Tyler Drive on Lido Key. This home was actually under contract the first day it was listed. This sale illustrates the strong working relationship between all elements of Michael Saunders & Company.

The story begins at an in-office sales meeting at 61 S. Blvd of the Presidents with Doug Parks introducing a new listing at 165 Tyler Drive. In attendance were Sue Brown and Peter Salefsky, who had a joint client looking for a home just like 165 Tyler. They immediately called their client, viewed the property, made an offer and went to contract at 98% of list sales price. This home was closed in one month, so the buyer utilized MSC Title for a rapid closing. The buyer wanted to use the home for rental income as well, and the Michael Saunders rental division was engaged. Therefore, this transaction was a complete Michael Saunders & Company team effort with a satisfied buyer and seller.

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