In 2003, the $13.2 million sale of 1219 Westway Drive, a then-new 7,400-square-foot mansion and property next door, kicked off the region’s residential real estate boom and set a sales record.
For the next three years, the market soared, until a mammoth collapse slashed prices by 50 percent or more.
On Friday, the tony Lido Shores area showed that the luxury real estate market maintains some resilience — despite some downward price adjustments — when that same Westway Drive mansion, excluding the adjacent property, sold for $6.35 million.
via Sales on Sarasota’s Westway Drive measure luxury market.