Sarasota County Hits Second Highest Sales - Ever! A total of 1,195 transactions were completed in April in Sarasota County. Only the 1,223 sales in April of 2004 topped this landmark in the Sarasota Real Estate Market.
The total of 1,195 residential sales in the Sarasota Real Estate Market included 759 single family homes and 436 condos. The median price for single family homes was $196,250, and the median price for condos was $183,500.
"Activity has been robust, and clearly there continues to be tremendous interest in buying properties in Sarasota County," said Sarasota Association of Realtors President Peter Crowley. "Last year, June and July also continued to show a high level of sales and activity in the local real estate industry, so we are hoping for a repeat in 2014."
Distressed sales, foreclosures and short sales, continue to be far below the levels of just a few years ago in the Sarasota Real Estate Market. In April distressed sales accounted for 16.6 percent of all sales with the biggest drop in short sales.
It appears that banks are less reluctant to help distressed homeowners with short sales now that values are increasing. On another note, Florida remains the number one state in the country for foreclosures in April.
Inventory levels dropped slightly in April to 4,728 from 4,810 in March, but pending sales are very strong with 1,040 at the end of April going into May and June.
Retirees and empty nesters continue to flock to the area mostly paying cash. Cash sales continue to account for almost 65 percent of all sales! However, the Sarasota Real Estate Market is not just for retirees. Families of all stages are finding the Sarasota Area to be one of the best places in the country to call home.
In summary, the Sarasota Real Estate Market is continuing it's strong recovery from just a few years ago. Who would have thought just a few years ago that we'd read this: Sarasota County Hits Second Highest Sales - Ever!
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