I recently returned from a short visit to the Northeast where I lived my entire life until moving to Florida. And although I miss the emerald green foliage that abounds this time of year, the sophistication of Long Island’s east end and winding country roads in Connecticut, the one thing I don’t miss is the density of the population and inevitable traffic, and apparently I’m not alone.

In July, Christie’s International Real Estate published the second of its white papers, Luxury Defined: An Insight Into The Luxury Residential Property Market. This is an in-depth analysis of trends shaping the luxury real estate market globally. The report looks at the effects of fluctuations in the global economy, net worth of high end buyers, demographics and how international wealth affects the luxury housing market globally.

The top 10 luxury property markets from high to low are London, New York, Los Angeles, Hong Kong, San Francisco, Sydney, Paris, Cote d’Azur, Miami and Toronto. It’s certainly nice to see that four out of the 10 top markets were within the United States but the really interesting part of Christie’s white paper hits a little closer to home.

Christie’s also analyzed what it calls Jewel Box Markets, those under 150,000 in population around the world. It said specifically, “Many affluent individuals choose to purchase homes in prized 'jewel box' enclaves around the globe. These small communities with populations of less than 150,000 are characterized by a large percentage of high net-worth residents and quality lifestyle offerings.”

Among the 10 Jewel box Markets is our close neighbor, Sarasota, with a population of 52,811. According to Christie’s, Sarasota’s luxury market trended positively over the 12 months ending January 2014 with sales of $1 million, plus properties increasing by 15 percent. Eight percent of Sarasota’s market is comprised of $1 million plus homes with a record sale in 2013 of $10 million.

The other nine jewel box markets and their percentage of $1 million plus homes are Bedford, N.Y., 58 percent; Jackson Hole, Wyo., 75 percent; La Jolla, Calif., 67 percent; Martha’s Vineyard, Mass., 45 percent; Sylt, Germany, 100 percent; Monaco, 100 percent; Montecito, Calif., 60 percent; Punta del Este, Uruguay, 50 percent; and Lugano, Switzerland, with 500 properties over $1 million on the market. Out of these nine, Monaco, with a population a little more than Sarasota’s, achieved the highest 2013 sale of $70 million.

What does all of this mean to Anna Maria Island and Manatee County? At the risk of stating the obvious, it means a lot. With Sarasota at our doorstep, there is a natural overflow from the waterfront communities of Bird Key, Lido Key and Longboat Key to more affordable pricing on Anna Maria Island, as well as Manatee County’s own spectacular waterfront.

In April, I wrote about the dramatic increase in listing and selling prices both on the Island and on the mainland in Manatee County as far east as the high end communities like the Concession and the Lake Club in Lakewood Ranch. Undoubtedly, all of these communities will benefit from Sarasota’s luxury real estate market.

The high end real estate market is changing right under our nose. Many wealthy buyers want the same things that brought all of us to Florida’s west coast; a beautiful place to live in smaller communities with less traffic and congestion. I always remember what someone told me once, on Anna Maria you never know who’s on the bar stool next to you.

If you think Anna Maria has parking and traffic problems, a little field trip to the waterfront communities of the Northeast during summer will give you a whole new perspective and appreciation for what we have. Sometimes even the very wealthy just want to keep it small.