Home Prices in Sarasota, FL for December 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 experienced a record year with total sales the highest ever in 2014. Total sales for the year reached 11,550 closed transactions! In December 929 homes closed in Sarasota County, 659 single family homes and 270 condos.
"This is truly historic news, and clearly demonstrates our region is experiencing a remarkable success story in real estate," said Association President Stafford Starcher. Sarasota and Manatee counties have never seen this level of combined sales activity, which actually surpassed the 2004-2005 boom years of a decade ago."
The median sales price for a single family home was $195,500, up from November of 2014 when the median price was $193,000. The median sales price for a condo $177,500 was up from November when the median sales price was $175,000.
While home prices continue to increase, the 20% plus rise seen last year appears to have moderated. Most experts currently seem to agree that a 4% to 5% increase is more likely this year. The number of distressed sales declined in December. In December 20% of all sales were either bank-owned or short sales.
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 691 sales going into the new year and closing in the coming months. The strongest season for home sales in the Sarasota Real Estate Market is currently underway and should continue throughout the Easter Holiday.
Inventory levels inched up slightly to 3,986 available properties. This represents a 4.1 month supply of single family homes and a 4.3 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
Sarasota Zip Codes Real Estate Report Summary
The median list price in December for single family homes in Sarasota was $299,900. The median list price decreased $56,000 from the previous month.
The price per square foot for listings in this area is $167.
The median sale price in December for single family homes was $220,000. The median sale in November was $227,000.
The price per square foot for sales in this area is $133.
Find Homes for Sale in Sarasota, FL
To find out what you home is worth in the current market email me at Keith@KeithKropp.com or call 941-587-8376.