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Home Prices in Sarasota, FL Market Report for January 2017
Real estate market data for Sarasota, FL provided by Keith Kropp of J Wood Realty.
 Home Prices in Sarasota, FL Market Report for January 2017
 
In January 2017 closed sales increased 11.6 percent year over year for condos while closed sales for single family homes decreased 8.2 percent year over year.  The median sales price for a single family home in Sarasota County decreased to $250,000 in January 2017.  On the other hand, Sarasota County condos median price creased to $239,000 year over year. 
 
Current inventory of single family homes stands at 5 months supply, and current inventory of condos is at a 5.9 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 with the Sarasota selling season upon us.
 
"The increased inventory is easing the supply and demand pressure and giving buyers more choices," says Xena Vallone, 2017 RASM President.  "The increase in pending sales is a good indication of future closed sales."
 
While home ownership rates have declined to 63.5 ... more

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