This Sarasota home is listed at $6 million as luxury demand sees ‘significant increase’

·3 min read

A luxury waterfront home listed for sale at $6.495 million is going to auction at no reserve.

Elite Auctions recently announced the auction of the home at 3731 Indian Beach Place in the Indian Beach-Sapphire Shores community a few blocks south of University Parkway. The auction is set for July 9.

The nearly 6,200-square-foot home includes a boat dock and lifts for personal watercraft. Other features are tropical gardens and landscaping, sliding walls of impact-resistant hurricane glass, elevator, and views of Sarasota Bay.

The outdoor entertaining areas has a covered loggia with lounge and dining spaces, summer kitchen, bar area, sundeck, heated swimming pool and spa, and a paved walkway that leads down to the deep-water dock and lifts.

The five-bedroom home includes a master suite occupying a corner of the home with dual walk-in closets and spa-inspired marble bathrooms, morning kitchen, private study, and sliding glass doors opening to the master terrace for a seamless indoor-to-outdoor-living experience.

The listing agent, Roger Pettingell of Coldwell Banker Realty in Sarasota, said that luxury homes in the $1 million to $5 million price range have seen a significant increase in demand recently, with Sarasota County seeing 466 properties sold in that range in 2019, 735 in 2020, and more than 1,100 sold in 2021.

As 2021 drew to a close, 112 houses with $5-million-plus price tags in Sarasota and Manatee sold.

“The year before that it was just 23,” Pettingell said in a press release, adding that the less-is-more trend of the pandemic is being replaced with the bigger-is-better philosophy among his affluent clients.

“People want office space, workout rooms and media rooms. They want entertainment spaces and as much outdoor space as they can afford. They’re also adding anything that makes the home a castle again, so items like resort-style pools are huge,” he said.

Pettingell perennially leads Manatee and Sarasota real estate agents in sales. In 2020, he had $175,567,000 in sales.

“From Collier County to Sarasota County, there is certainly no shortage of extraordinary luxury properties, and no shortage of affluent buyers from all over the world ready to pounce once one like this becomes available,” Randy Haddaway, founder & CEO of Elite Auctions, said in the press release.

“Florida is red-hot right now, for a variety of reasons, and anyone looking to buy a luxury bay-front estate like this one had better hurry while it’s still available,” Haddaway said.

The home is available for private tours and open for preview weekends 1-4 p.m. with a final preview the day before the auction on July 8. Previews are suspended over the July 4th holiday weekend.

The auction will be held on-site at the property at 11 a.m. July 9 with registration beginning at 9 a.m.. Remote bids will be accepted by phone. Broker participation is encouraged.

A 6,200 square-foot waterfront Sarasota home listed at $6.495 million has been offered for auction without reserve this summer.
A 6,200 square-foot waterfront Sarasota home listed at $6.495 million has been offered for auction without reserve this summer.