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Home Prices in Sarasota, FL for November 2016
Real estate market data for Sarasota, FL provided by Keith Kropp of J Wood Realty.
 Home Prices in Sarasota, FL Market Report for November 2016
 
Home sales in Sarasota are back on an upward trend as sales increased by 8.7 percent in November compared to October.  The median sales price for a single family home in Sarasota County rose to $265,000 in November.  On the other hand, Sarasota County condos median price decreased to $196,500. 
 
Current inventory of single family homes stands at 4.4 months supply, and current inventory of condos is at a 5.4 months supply.  This number represents the number of months it would take to sell all existing inventory if no new listings came on the market.  Six months inventory is considered a balanced market between buyers and sellers.   We are still in a sellers market, although it is slowing down as inventory continues to increase in advance of the coming selling season.
 
Pending sales of single family homes in November increased 24 percent from October of this year. Condo pending sales in Sarasota increased 39.8 percent.  "Since September, we've seen an upward trend in inventory, reversing the downward trend that started in March of this year," said 2016 RASM President, Linda Formella.  "This ... more

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