A waterfront home on Siesta Key sold for $26 million in an all-cash deal, making it Sarasota County’s most expensive home sale so far this year.
The 1.18-acre estate overlooking the Gulf at 3990 Higel Ave. sealed the record for the highest sale so far this year, with features that "rival a world-class resort," according to property marketing materials.
The brand-new construction, which was officially completed in August, comprises 13,035 square feet of living space on the barrier island, including the more than 11,000-square-foot primary residence and a spacious, two-bedroom guest house.
As a whole, the property touts seven bedrooms and 11 bathrooms, with custom millwork and designer lighting, according to marketing materials, and "ultra-luxurious
finishes." The primary bedroom suite itself is complete with a private sitting area, balcony and spa-inspired bathroom space.
The interior design of the residence features expansive ceilings and glass walls, as well as a designated party room and wine cellar. According to the property listing, the residences can be fully furnished for an additional pricing package.
Outdoor amenities for the residence on Higel Avenue encompass an infinity-edge pool, lush gardens, firepit, lounging areas and an al fresco dining space. The new construction also offers deeded boating access and a private, 20,000-pound lift.
The initial asking price was close to $30 million, or roughly $2,301 per square foot.
The seller of the estate was represented by Adnan Dedic, a luxury real estate agent with Compass. The new construction was built by Nutter Construction and designed by DSDG Architects, with interior touches by Angela Rodriguez Interiors.
Dedic told the Herald-Tribune that the property was unique in only spanning one acre, with direct oceanfront visibility and a deeded boat lift. He said that the sale officially closed on Sept. 28, about 30 days after the construction was officially completed and was contracted as an all-cash purchase.
"We're seeing prices that we haven't seen before," Dedic said. "Sarasota has always been a luxury location, but it's attracting a lot more new buyers and luxury properties."
He added that the sale reflects a larger trend in Sarasota, as out-of-state buyers from other major markets — like New York and California — are investing in the area as one of the main "established Florida luxury destinations."
"Sarasota is no longer Florida's best-kept secret," Dedic wrote in a prepared statement about the closing. "It is becoming recognized as a global luxury destination, and I believe we're only beginning to see what this market is capable of."
Luxury market soars, as others struggle
The sale surpassed the sale of Crystal Waters, a nearly three-acre property at 8501 Midnight Pass Road on Siesta Key that was listed for $29.995 million. The estate sold in mid-September with a total closing price that included a furnishing package, making the Higel Avenue property an even higher valued purchase.
Despite elevated mortgage rates and broader affordability pressures, Florida's luxury housing sector has surged in 2026, with multimillion-dollar home sales recording some of the strongest gains in the market, according to a market report.
Luxury real estate platform Housing Info reports that, despite market pressures on the greater housing market, luxury listings continue to thrive due to the patterns of buyers and financing trends in that market sector, "making it less sensitive to affordability crises, interest rate volatility, and local supply-demand imbalances."
Additionally, cash sales have also seen an increase, which is often indicative of the extent investors are active in the market, according to a report from Florida Realtors.
“Investors are far more likely to have the funds to purchase a home available up front, whereas the typical homebuyer requires a mortgage or some other form of financing,” Florida Realtors Chief Economist Brad O’Connor said in a prepared statement.
However, higher-priced single-family activity showed more mixed signals in Sarasota County in August. Sales priced at $1 million or more decreased 8.2%, while sales between $1.5 million and $1.99 million increased 46%. Additionally, sales of single-family homes between $2 million and $2.99 million increased 18.2%.
Last month, both closed and pending sales rose in the four major market categories tracked by the Realtors Association of Sarasota and Manatee.
Kendal Asbury is the real estate and development reporter for the Sarasota Herald-Tribune. Have an idea, tip or question about development? Send her an email at kasbury@usatodayco.com. Connect with her on LinkedIn or follow her on Instagram @wordsbykendal, and support local journalism by subscribing to the Herald-Tribune.
This article originally appeared on Sarasota Herald-Tribune: Siesta Key home sells for $26 million, setting Sarasota County record
