The real estate market keeps on changing every month in Sarasota. It is crucial to know Sarasota real estate prices before you try to sell or buy a property in the local area. In this article, we have provided the data related to the change in prices of Sarasota properties over the past two months.
Sarasota Real Estate Prices - January 2021
January 2021 could be considered a seller's market. The number of new properties listed for sale was down by around 59% from one year before, and there was a marked decrease in the number of sales listings of 20.4% from December 2020. The data has also shown that the number of sold listings went up by just over 19% year over year, while decreasing 30% month over month.
We noticed that the number of under contract listings increased by 65% compared to December 2020, and up 44.6% compared to the previous year.
The data shows that the average price per square footage of properties sold was up nearly 8% compared to the previous month, with an increase of 14.5% compared to this point last year.
Despite this, the median sold price fell 3.1% from December 2020. Despite this, the average sales price also increased by just over 3% from last month. Taking a look at the last 6 months, we believe that the average sales price trend is "appreciating", which is good news for sellers.
Taking a look at the average days on the market, this showed a slight downwards trend with a sharp decrease of over 19% compared to the previous year.
Sarasota Real Estate Prices – February 2021
February 2021 was certainly a seller's market. The number of for sale listings was down 70.5% from one year earlier and down 28.6% from the previous month. The number of sold listings increased by just over 33% year over year and increased 18% month over month.
We identified that the number of under contract listings increased by 1% compared to January 2021, and it was also up by 36% compared to the same point of the previous year.
The average sold price per square footage showed a slight increase of 1% compared to January 2021, with a sizable 20% increase compared to last year. The median sold price remained constant with last month, but the average sales price increased by just over 8% compared to last month. Looking at the last six months, the average sales price trend is certainly "appreciating", whilst also the median sales price trend is also "appreciating".
Lastly, examining the data for the average days on the market showed a neutral trend. One other interesting statistic was that the ratio of sold price versus original list price is 96%, which is an increase of just over 2% compared to the previous year.