Real estate market data for Sarasota, FL provided by Keith Kropp of Better Homes and Gardens Real Estate - Atchley Properties
Home Prices in Sarasota, FL Market Report for May 2017
In June 2017 closed sales of single family homes were down 0.4 percent and condos were down by 1.5 percent over the previous month. The median sales price for a single family home in Sarasota County was $275,000, an increase of 10.9 percent from June of 2016. The median sales price for condos in Sarasota County was $215,000, a decrease of 2.0 percent year over year.
"With most sellers aware of the market being a sellers' market, they are testing the waters with higher listing prices," says Xena Vallone, 2017 RASM President. "And now we've been seeing a longer period of time between the listing and the contract."
While home ownership rates have declined to 63.5 percent nationwide, the lowest in half a century, the Sarasota Real Estate Market has risen to 73.5 percent. Sarasota currently ranks the highest in home ownership for the 75 largest metropolitan areas in the country.
Cash sales are declining in the market in Sarasota County hovering around 50% or below, but financed transactions are on the rise with some underwriting guidelines loosening. The solid volume of cash transactions is attributed to the influx of retirees and second home buyers who have been flocking to the area with cash in hand. With the baby boomer generation retiring in record numbers to the area this may not change any time soon.
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 June 2017 for single family homes in Sarasota was $275,000. The median sales price in June 2016 was $248,000.
The median days on the market for listings in June 2017 was 51. The median days on the market in June 2016 was 42.
The average sale price in June 2017 for single family homes was $359,226. The average sales price in June 2016 was $334,481.
The median percentage of list price received in June 2017 was 95.0%. The median percentage of list price received in June 2016 was 95.4%.
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