While national real estate coverage focuses on Florida’s cooling market, Sarasota’s high-end new construction sector is experiencing something entirely different. Vlado Konatar of Kona Realty recently closed over $11 million in deals, mainly in properties above $3 million, and he’s seeing patterns that contradict the prevailing narrative.

“The low-end market has softened significantly with substantial inventory sitting,” Konatar explains. “But at the $3 million and up level, particularly in new construction, we’re seeing multiple cash offers, full asking prices, and quick closes. It’s reminiscent of the pre-COVID market.”

The split is pronounced. While some Florida markets struggle with inventory and buyer hesitation, Sarasota’s luxury segment is moving product at a pace that surprised even seasoned developers. Konatar attributes this partly to Sarasota’s unique positioning among Florida markets.

“Sarasota has something most newer Florida cities don’t: actual history and a refined cultural infrastructure,” he notes. “The opera house has been here for a century. The arts scene rivals major metropolitan areas. High net worth buyers who move here tend to stay and bring their networks with them.”

This isn’t just about beaches and weather, though Sarasota’s beaches consistently rank among the best in the country. The city’s established cultural institutions and long-standing high-net-worth community create a different buyer profile than markets built primarily on recent development. These buyers are looking for more than investment properties or seasonal homes. They’re seeking a lifestyle that combines coastal living with cultural sophistication.

The developer relationships Konatar has cultivated over 11 years give him insight into supply dynamics that most agents don’t see. He’s currently working on a five-unit downtown project featuring fully custom homes with elevators, saunas, putting greens, and basketball courts. The project came together after he sold out his entire inventory by November, ahead of the traditional spring selling season.

“We worked hard at the beginning of this year to prepare substantial inventory for the upcoming season,” Konatar says. “By November, everything was sold. Now I’m running around finding new projects because the demand hasn’t let up.”

This inventory scarcity at the high end contrasts sharply with oversupply in lower price segments. The challenge isn’t finding buyers, it’s finding products that meet their specifications. Developers are moving forward with confidence in this segment, not pulling back on luxury new construction the way they might be reconsidering other price points.

The timing dynamics are also shifting in ways that create opportunities for informed buyers. Konatar recently negotiated a 20% discount for a client, and the builder was satisfied with the deal. The reason comes down to lending structures most buyers never see.

“Builders have year-end pressures to show sold inventory to their lenders,” he explains. “The lenders don’t particularly care about the price; they care about units moved. November becomes strategic because builders need those numbers ready for December reporting.”

This creates a window where buyers with flexibility can find value that won’t exist in peak season. Konatar has used this timing to structure package deals, sometimes purchasing 10 or 15 units himself while bringing additional buyer clients to the table. The volume gives him leverage that individual transactions can’t match.

The growth in his business has prompted him to expand his team. He recently hired four agents, bringing his total team to that size. The focus in hiring isn’t just on experience but on work ethic, integrity, and willingness to learn a specialized segment that operates differently than traditional resale.

Looking toward spring 2026 and beyond, Konatar expects the gap between market segments to persist and possibly widen. If interest rates ease toward 5%, he anticipates the luxury new construction sector will lead the broader market recovery. The combination of sustained high-net-worth migration to Florida, inventory scarcity at the high end, and pent-up demand from buyers waiting for rate relief could create significant momentum.

“I think we might see a real boom once rates drop,” Konatar says. “People are positioning themselves now to be ready when that happens. They want to secure properties before the competition intensifies.”

For now, Sarasota’s high-end market continues writing its own story, independent of the broader Florida narrative. While other markets work through inventory and pricing corrections, the $3 million-plus new construction segment in Sarasota is operating in a different economic reality, one defined by scarcity, cash buyers, and sustained demand that shows no signs of cooling.

Vlado Konatar is the founder of Kona Realty Group, a Sarasota-based firm specializing in luxury new construction and high-end residential real estate. With over 11 years of experience in the Florida market, Konatar works closely with developers on projects throughout the Sarasota area. Learn more at konarealtygroup.com.

Disclosure: Individuals or companies mentioned may have a commercial relationship with KeyCrew.

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