Home Prices in Sarasota, FL for September 2014
Real estate market data for Sarasota, FL provided by Keith Kropp of J Wood Realty
Sarasota Area Home Prices and Statistics
The Sarasota Real Estate Market continues to hum hitting 934 sales for the month of . The September. total sales includes 688 single family homes and 246 condos. Sales for the first nine months of the year are still ahead of 2013's record sales pace when we had the second highest number of sales in the Sarasota Association of Realtors 91 year history!
The median sales price for a single family home was $189,000, down from August of 2014 when the median price was $195,750. The median sales price for a condo $195,000, which was 18% higher than the same month a year ago.
"We are seeing steady strong numbers for the Sarasota County real estate market," said Sarasota Association of Realtors President Peter Crowley. "The first three quarters of 2014 remain on an historic, positive pace, and our members are helping to make the dream of home ownership come true for thousands of buyers. Sarasota is a unique, incredible place to live, work and play, and the world has obviously discovered that fact."
While home prices continue to increase, the 20% plus rise seen last year appears to have moderated. Most experts seem to agree that a 14% increase or less is more likely this year. The number of distressed sales increased slightly. In September 24% of all sales were either bank-owned or short sales, up slightly from 22% in August 2014.
Cash sales continue to dominate the market with about 60% of all sales being cash. This is being attributed to the influx of retirees and empty nesters who have been flocking to the area. With the baby boomer generation retiring in record numbers to the area this may not change any time soon.
Pending sales remain strong with 840 sales on track to close in the coming months. The strongest season for home sales in the Sarasota Real Estate Market are about to begin as the season gets under way in the next couple of months.
Inventory levels are dropping again with only 3,666 available properties. This represents a 4.0 month supply of single family homes and a 3.8 month supply of condos. A 6 month supply is considered a balance market between buyers and sellers. We continue to be in a seller's market.
With a good Realtor to help you through the buying process, there are good homes to be found and good lenders to help buyers obtain mortgages.
Sarasota Zip Codes Real Estate Report Summary
The median list price in September for single family homes in Sarasota is $299,000. The median list price decreased $51,000 from the previous month.
The price per square foot for listings in this area is $165.
The median sale price in September for single family homes is $225,000. The sale prices increase of 6% from the previous month.
The price per square foot for sales in this area is $133.
Find Homes for Sale in Sarasota, FL
Visit my website to search for homes in Sarasota or to be notified when Sarasota homes come on the market.
To find out what you home is worth in the current market email me at Keith@KeithKropp.com or call 941-587-8376.