In a remarkable achievement, Coldwell Banker Realty’s Longboat Key office and its satellite St. Armands office have surpassed $1 billion in gross sales—reaching the milestone by the end of August, months ahead of last year’s pace.
Led by managing broker Ellen O’Day, these offices consistently outperform all other single-office brokerages in Sarasota and Manatee counties and rank as Coldwell Banker Realty’s top-selling offices on Florida’s Gulf Coast.
This marks several consecutive years for this office to be No. 1 in sales performance for Sarasota/Manatee as well as surpassing $1 billion in annual sales. The achievement is especially notable given the post-hurricane challenges of late 2024. The St. Armands office was closed for several months to repair flooding. Many waterfront listings went off the market for repairs and were delayed getting back on the market until at least the spring of 2025. It made for a slow start to the year with inventory challenges and fewer visitors to the area while hurricane clean up took place.
According to O’Day, other challenges the region has overcome include required structural engineering assessments on older condo buildings, sellers entering the market who paid top dollar during Covid and are now disappointed in what’s possible for asking prices, and even the industry-wide changes to buyer-broker agreement.
“Real estate drives the economy, and the luxury market remains active because it’s largely cash-based and less impacted by interest rates,” explained O’Day, whose offices have a large focus on the local luxury real estate market. “We have very resilient agents who have not let any setback or challenge get in their way. I love working with them and seeing them grow and flourish.”
According to Coldwell Banker Realty Regional Vice President Jennifer DeStefano, “Ellen has done an incredible job leading these agents. She consistently goes the extra mile—checking in, helping them stay on track with their goals, and supporting them through challenges. I am extremely proud of her and the Longboat Key/St. Armands agents for this huge accomplishment.”
In addition to the faster rate at achieving the billion-dollar benchmark, these offices have also closed more units than last year. Longboat Key/St. Armands are on track to exceed last year’s $1.3 billion in total sales. When O’Day took over leadership of these offices approximately a decade ago, annual sales were approximately $450 million.
“The real estate market remains active and in-demand. The hurricanes did not stop people from relocating to Florida or visiting its beaches,” said O’Day. “For those homeowners already here, this is the moment to exchange your current home for your dream home. You may not get that dream number from the Covid market days, but you will also be paying less for the home you have always wanted. This is the window for the move-up buyer or for someone who has always dreamed of living part or full time in Florida.”
With continued momentum and a resilient team, Coldwell Banker Realty’s Longboat Key and St. Armands offices are poised to set new records in 2025.
