Real estate market data for Sarasota, FL provided by Keith Kropp of J Wood Realty.
Sarasota Home Prices
The 2015 Sarasota Real Estate Market is on track to record the highest number of sales in the 100-year history of the Realtor Association of Sarasota and Manatee. Monthly sales have been over 1,000 every month this year. Only 370 sales are needed in December to exceed last year's record of 19,389 sales in the Sarasota Real Estate Market.
"We are enjoying a strong and healthy market, with sustainable gains, and the traditional buying season has just begun. We should anticipate a busy market in the coming months with staying power throughout the year" said Stafford Starcher, 2015 President of the Realtor Association of Sarasota and Manatee.
November sales declined from October, but were 2.6 percent higher than last November. The median sales price for a single family home in Sarasota County was up 18.5 percent from last November and the the median sales price for a condo was up by 13.7 percent from last November.
While home ownership rates have declined to 63.7 percent nationwide, the lowest in half a century, the Sarasota Real Estate Market has risen to 75.6 percent. Sarasota currently ranks the highest in home ownership for the 75 largest metropolitan areas in the country.
Cash sales continue to dominate the market in Sarasota County with 55% of all sales being cash, but financed transactions are on the rise. The high volume of cash transactions is attributed to the influx of retirees and second home buyers 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.
Again, pending sales were down, but this is very typical for this time of year. The strongest season for home sales in the Sarasota Real Estate Market typically begins after the first of the year, and a strong year for sales appears to be well under way.
Inventory levels of available properties increased slightly, but are well under the 6.0 month supply considered a balanced market between buyers and sellers.. Inventory levels currently represent a 3.7 and 4.0 month supply of single family homes and condos respectively. Our current market definitely favors sellers.
"Based on our sales to date, we are looking at record-breaking numbers to round out the year," noted Starcher. "We never know what tomorrow will bring, but I am enthusiastic about the future of our thriving real estate 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 County Real Estate Report Summary
The median sales price in November 2015 for single family homes in Sarasota was $228,750. The median sales price in November 2014 was $193,000.
The median days on the market for listings in November 2015 was 35. The median days on the market in November 2014 was 38.
The average sale price in November 2015 for single family homes was $327,954. The average sales price in November 2014 was $285,276.
The average percentage of list price received in November 2015 was 94.6%. The average percentage of list price received in November 2014 was 94.0%.
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 email@example.com or call 941-587-8376.