Announcement comes as the Sarasota area sees a substantial rise in luxury real estate sales and a sustained shift of buyers moving away from northern, urban locales to high-value waterfront properties in the Sunshine State.
NAPLES, Fla., Aug. 30, 2022 /PRNewswire/ — ELITE AUCTIONS, a leader in luxury real estate auctions and marketing, announced the latest addition to its lineup of luxury residential, commercial, and undeveloped real estate listings selling at auction without reserve this summer.
“[This home] exemplifies the kind of property that’s in high demand right now, but in short supply.”
Going to the auction block September 24 is 8347 Midnight Pass Rd, located at the southern end of barrier island Siesta Key and three miles south of Siesta Key Beach.
The 6,512 sq-ft home is being offered fully-furnished, and features a boat dock with a 16,000 lb lift and a private kayak launch, along with lush tropical landscaping, an elevator to all three floors, and stunning views of Little Sarasota Bay.
The residence was recently listed for sale at $7.9 million according to publicly-accessible real estate data sources.
8347 Midnight Pass Rd joins a number of Sarasota-area properties that ELITE AUCTIONS has marketed for auction recently, and comes as the Sarasota–Manatee County area sees a massive surge in demand for luxury real estate, and record-high sales.
Commenting on the announcement and the areas’s massive increase in demand for high-end luxury real estate, Randy Haddaway, Founder & CEO of Elite Auctions said, “Sarasota luxury real estate, particularly, waterfront properties like this one located near the world-famous Siesta Key Beach, have never been in higher demand or sold for as much money as they are today. And anyone looking for a turnkey home like this, should expect competition.”
Haddaway says that partly explaining the trend of rising prices is the steady increase in wealthy buyers from the Northeast who are accustomed to high price points for custom luxury homes in prime locations.
“This home is exactly what those buyers are looking for,” says Haddaway. “It exemplifies the kind of property that’s in high demand right now, but in short supply.”
8347 Midnight Pass Rd is open for previews on weekends, 1-4 PM, beginning Saturday, September 3, and Sunday, September 4, with a final preview the day before the auction on Friday, September 23.
The auction will be held on-site at the property, Saturday, September 24, 2022, at 11 AM EDT, with registration beginning at 9 AM. Remote bids will be accepted by phone. Broker participation is encouraged.
About ELITE AUCTIONS
ELITE AUCTIONS has marketed more than $2 billion of high-value property and luxury yachts for auction with no reserve, accelerating the sale of more than $450 million in luxury assets. Its luxury home auction team is dedicated to helping sellers achieve the best value for their property and secure a sale quickly.
Director of Marketing, Elite Auctions