Home Prices in Sarasota, FL for October 2014

By
Real Estate Agent with Michael Saunders & Company BK3189271

Home Prices in Sarasota, FL for October  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 home sales continue to climb hitting 1.011 sales for the month of October.  The total sales includes 723 single family homes and 288 condos.  Sales for the first ten 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 $195,000, up from September of 2014 when the median price was $189,000. The median sales price for a condo $175,000, which was 11.4% lower than September.

 

"The season is only just beginning, and no one is reporting a holiday slowdown in market activity at this point," said Sarasota Association of Realtors President Peter Crowley.  "In the past few years, we haven't observed a major drop off in sales in November and December.  With the national economy picking up steam, and unemployment still dropping, I'm optimistic we'll continue to see these strong numbers."

 

While home prices continue to increase, the 20% plus rise seen last year appears to have moderated.  Most experts seem to agree that a 5% to 9% increase  is more likely this year.  The number of distressed sales remained the same in October.  In October 24% of all sales were either bank-owned or short sales.

 

Cash sales continue to dominate the market with about 55% 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 773 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 inched up slightly with only 3,791 available properties.  This represents a 4.0 month supply of single family homes and a 3.9 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.

 

 Single Family Home Sales September 2014

 

Condo Sales September 2014 

 

 

Sarasota Zip Codes Real Estate Report Summary


The median list price in September for single family homes in Sarasota is $354,900. The median list price increased $55,900  from the previous month.

The price per square foot for listings in this area is $179.

The median sale price in September for single family homes is $215,000. The median sale price decreased  5% 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.

 

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Rainmaker
3,113,211
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Keith - These are very helpful great list of stats on home prices in Sarasota, Florida for October 2014.

Dec 12, 2014 08:39 AM #1
Rainmaker
85,041
Emerald Coast Realty
Emerald Coast Realty - Pensacola, FL
Realtors

Great report Keith!

 

Wow, the difference a few years makes. I am very glad to see how well homes sales are going in Sarasota.

Here in NW Florida, especially the Destin/Pensacola real estate markets there is little to no seasonal slowdown.

Looks like 2015 is going to be a great year!

Dec 12, 2014 09:16 AM #2
Rainmaker
1,571,222
David Saks
(retired) - Memphis, TN

Very nice post and great info. Have a great day ahead.

Dec 13, 2014 03:58 AM #3
Rainer
449,513
The Keith Kropp and Wayne Rogers Team
Michael Saunders & Company - Sarasota, FL
Nowhere But Here

Thank you, David.  Keep warm up there in TN

Dec 14, 2014 11:31 PM #4
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Rainer
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The Keith Kropp and Wayne Rogers Team

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