Real estate market data for Sarasota, FL provided by Keith Kropp of J Wood Realty.
Sarasota Home Prices
The Sarasota Real Estate Market finished the year with an all-time record of 20,691 sales; an increase of 1,302 sales over the previous year. This represents the highest number of sales recorded in the Sarasota Real Estate Market in 100 years of record-keeping.
"These truly are exciting times for the real estate community, and reflects the hard work and dedication of our Realtor members," said Linda Formella, RASM President. "Our industry has been steadily and soundly rebuilding and I am so proud of our professional Realtors and all the industries that support the real estate community."
Sarasota and Manatee Counties had 1,671 sales in December. This was 28 percent higher than November, but down somewhat from December of 2014. Median sales prices for single family homes in Sarasota rose 22 to $239,900, and condo median sales prices also increased 22 percent in Sarasota to $217.000.
Inventory dropped to a 3.8 month supply of single family homes in Sarasota, and condo inventory is at 4.1 months. A 6-month supply is considered a balanced market between buyers and sellers. We are currently in a strong seller's market.
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 on the horizon for the new year.
"2015 has been such and exciting and historic year for our two-county area," noted Formella. "We live and work in paradise and more and more people want to be a part of it. I am looking forward to a healthy year of steady growth in 2016."
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 December 2015 for single family homes in Sarasota was $239,900. The median sales price in December 2014 was $195,500.
The median days on the market for listings in December 2015 was 33. The median days on the market in December 2014 was 44.
The average sale price in December 2015 for single family homes was $354,880. The average sales price in December 2014 was $285,918.
The average percentage of list price received in December 2015 was 95.4%. The average percentage of list price received in December 2014 was 93.1%.
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