Home Prices in Sarasota, FL for January 2015

By
Real Estate Agent with Michael Saunders & Company BK3189271

Home Prices in Sarasota, FL for January 2015


Real estate market data for Sarasota, FL provided by Keith Kropp of J Wood Realty.

 


Sarasota Home Prices

 

The Sarasota Real Estate experienced a decline in sales for the month of January as expected, but pending sales rose drastically as well as the number of homes on the market.   In January 743 homes closed in Sarasota County, 514 single family homes and 229 condos.

 

"In real estate, there are trends, peaks and valleys, and over the years we've seen a dip in closed sales in January," said Association President Stafford Starcher.  "In recent years, we've also seen a resurgence in sales in February and through the spring and early summer.  Judging from the pending sales levels in both counties, I wouldn't be surprised if 2015 continues in this same pattern."

 

The median sales price for a single family home was $190,000, up from December of 2014 when the median price was $195,500. The median sales price for a condo $185,000 was  up from December when the median sales price was $177,500.

 

While home prices continue to increase, they have definitely moderated.  Most experts currently seem to agree that a 3% to 5% increase  is more likely this year.  A 3% to 5% increase is a return to a more stable market for the long term.  The number of distressed sales declined in December.  In December 21.8% of all sales were either bank-owned or short sales.

 

Cash sales continue to dominate the market with close to 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 increased substantially to 995 sales indicating strong closings 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 also increased greatly to 4,385 available properties.  This represents almost a 6 month supply of single family homes and condos.  A 6 month supply is considered a balance market between buyers and sellers. 

 

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

 

January Single Family Sales

Condo/Townhome Sales

January Condo Sales

 


Sarasota County Real Estate Report Summary

The median list price in January for single family homes in Sarasota was $355,000. The median list price in December was $369,000.

The price per square foot for listings in this area is $164.

The median sale price in January for single family homes was $190,000. The median sale in December was $195,000.

The price per square foot for sales in this area is $121.

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.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Florida Sarasota County
Groups:
Realtors®
LGBT Referrals
Realtor Referral Network
Gay & Lesbian Agents Unite
Market Reports
Tags:
sarasota home sales
saraota home sales market report

Spam prevention
Show All Comments
Rainmaker
3,111,747
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Keith - Thanks for the information on home prices in Sarasota, Florida.

Mar 09, 2015 10:16 AM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
449,313

The Keith Kropp and Wayne Rogers Team

Nowhere But Here
If You Think Sarasota May Be Right For You, Drop Me A Line
*
*
*
*

Additional Information