Sarasota Single Family Homes:

Median Price

Days On The Market

Inventory Level

Want More Real-Time Stats?

View More Sarasota Housing Statistics

Do you want to discuss the Sarasota market for your own needs?

Contact me and let’s get started!

You may also be interested in:

1. 

   Sarasota Housing Statistics – Months of Inventory
2. 

   Sarasota Florida Housing Statistics | May 2009
3. 

   Sarasota Florida Housing Statistics | June 2009

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes

Median sale prices have remained very stable, averaging $155,925 for single family homes and $156,800 for condos over the full year. The market has come a long way in 3 years. Sales performance for the Sarasota area is impressive, and represented a 44 percent increase over the low point of the downturn in 2008, when there were 5,820 properties that sold. It is very clear that Sarasota remains a top destination for many homebuyers seeking the Florida lifestyle.

If you are considering a purchase in Sarasota, contact us to help you find your Sarasota dream home!

Property transactions in the Sarasota real estate market jumped 7.3 percent in December 2011, compared to the November totals. Combined sales stood at 648, up from last month’s figure of 602 and the October 2011 sales of 577. This sales resurgence has paralleled the drop in the available inventory, and put the remaining months of inventory in the range of a seller’s market.

The inventory of available properties for sale in Sarasota was at 4,567 in December, down slightly from the 4,672 in November. The inventory fell to a 10-year low of 4,408 in August 2011. As the inventory has slid, the months of inventory has dropped and now stands at 6.3 months for single family homes and 9.2 months for condos. A figure of 6 months is considered equilibrium between a buyer’s and a seller’s market.

The December 2011 median sale price for condos recovered strongly to $150,000 from November’s figure of $127,000. This was the highest level since August 2011. Condo prices have been fluctuating for several months, with the year-to-date median sale price at $156,800.

For single family homes, the median sale price dropped slightly in December to $160,000 from $162,000 in November 2011. For the overall year, the figures have remained remarkably steady, indicating a stabilizing market.

Click HERE for the complete press release in PDF format, plus six pages of statistical charts.

You may also be interested in:

1. 

   Sarasota Property Sales Hit Highest Levels Of The Year in Sarasota Real Estate Market
2. 

   January 2011 Sales Numbers Look Strong
3. 

   December 2010 Sarasota Real Estate Sales Skyrocket

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes

Sales were up 24.2 percent from the previous month, and what’s even more impressive is that sales have increased 27.3% over last February. Median sales prices for both single and condominiums have continued decrease, but at a much slower rate. Foreclosures and short sales continue to equal about half the overall sales, and the driving force for decreased sales prices.

Sarasota home sales have increased 27% to 673 total sales. There were 472 single family homes closings
and 201 closings on condos last month. These were closings generated from Realtors belonging to the Sarasota Board of Realtors.

The drop in inventory to the 6 year low point (5,864) could mean upward pressure on sales prices moving forward, according to SAR President Michael Bruno.

“Traditionally and historically, fewer properties on the real estate market usually causes price appreciation,” explained Bruno. “It’s simply a matter of supply and demand. If there are more buyers competing for a smaller number of properties, selling prices are usually driven up. Hopefully, we’ll soon see a return to the traditional local appreciation levels of between 5 and 7 percent annually. That would represent a very healthy market.”

The higher sales totals combined with the lower inventory caused a sharp drop in the months of inventory to 8.0 months from 10.2 months in January 2011 for single family homes, and to 10.4 months from 14.1 months for condos. Only two years ago, in January 2009, there were 25.3 months of inventory for single family homes and 38.4 months of condo inventory. The market is considered to be in equilibrium between a buyers and sellers market once the figure reaches the 6 month level.

Click HERE for the complete press release in PDF format, plus six pages of statistical charts.

You may also be interested in:

1. 

   Sarasota Housing Statistics – Months of Inventory
2. 

   Sarasota Housing Statistics – September 2010
3. 

   Sarasota Florida Housing Statistics | June 2009

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes

Great news in the Sarasota real estate market!  Pending sales increased 28% from December to January 2011.   This statistic indicates that sales will be strong for the upcoming  peak months through march.   This is the first time pendings exceeded the 1,000 mark since April of 2010, when the looming home buyer tax credit expiration date was fueling sales activity.

Overall, closing in January 2011 finished at 537 sales, up from 507 last January, however disappointing compared to the 681 sales in December. December was very active however, and many Buyers/Sellers attempt to close before the end of the year for tax purposes.

“The market is very lively right now,” said SAR President Michael Bruno. “I recently held an open house and had very high foot traffic compared to recent months, and I’ve heard from other Realtors^® in the association who are experiencing the same thing.”

January 2011 experienced 384 single family sales and 153 condo sales.  Median sales price was down in January 2011, as distressed property sales exceeded 50 percent of the local real estate market and pulled the overall median figures lower.  The single family median sales price was $138,700, while the condo median dropped to $142,500.

“Clearly, we continue to see three very distinct markets in Sarasota,” noted Bruno. “Buyers who want to avoid delays and other potential problems and complications on distressed properties are willing to pay a higher price for homes and condos. We continue to look forward to the day when these distressed properties return to traditional levels in Sarasota. The rebound in the national economy appears to indicate that day is coming.”

Inventory remained at a very low level in January (6,072 available properties) The lower sales volume caused a rise in the months of inventory to 10.2 months from 7.8 months in December 2010 for single family homes, and 14.1 months from 11.7 months for condos.

Only two years ago, in January 2009, there were 25.3 months of inventory for single family homes and a very high 38.4 months of condo inventory. The market is considered to be in equilibrium between a buyers and sellers market once the figure reaches the 6 month level

For the year 2010, overall sales were up 12.4 percent compared to 2009 – 7,603 to 6,739 total sales. Sales in the Sarasota market have now risen for two consecutive years since a low point of 5,820 sales in 2008.

Read the full report here (PDF)

You may also be interested in:

1. 

   Sarasota Fl. Housing Statistics – January 2009
2. 

   Huge Sales Jump In March 2010 – Could Sarasota be a Seller's Market?
3. 

   Sarasota Florida Housing Sales Statistics | March 2009

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes

According to the Sarasota Association of Realtors reported sales numbers, the past 4 months have shown steady improvement in sales and closings. Also, we are entering prime season, and inquiries on this website have certainly reflected stronger activity from buyers. Prices are down, inventory is a bit higher, and mortgage rates rates are hard to pass up at around 4.5% ..all great news for the buyers!
Check out more current Sarasota real estate statistics.

Feel free to contact me with any questions regarding the Sarasota market, and i would be happy to assist you in finding your piece of paradise!

You may also be interested in:

1. 

   Interesting Real Estate Market Update from Dave Ramsey
2. 

   Sarasota Property Sales Hit Highest Levels Of The Year in Sarasota Real Estate Market
3. 

   August 2010 Sarasota Housing Sales Statistics

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes

Click on Images to Enlarge
Graphs and statistics provided by the Sarasota Association of Realtors

The numbers were reported today from the Sarasota Association of Realtors for the month of September 2010.
In Sarasota, there were 547 total sales, compared to 567 in August 2010.  It was almost the exact same performance as last September, when there were  554 sales.  Prices were also almost the same as last year.  September 2010 saw a median sale price of $155,000 for single family homes and $150,450 for condos. This compares to $154,500 last month and $165,000 last year for single family homes; and $155,000 last month and $162,500 last year for condos.

When you look at all the numbers,  the market has mirrored last years numbers, with small fluctuations. There was an expected spike in sales experienced during the three months of the federal $8,000 homebuyer tax credit period.

It is clear that the Sarasota distressed sales are continuing to keep prices down, particularly Sarasota condo foreclosures.  Distressed sales (meaning foreclosures and short sales) contributed 54% of overall sales, and incidentally, these distressed sales command about 1/3 the price that a normal “arms length” condo sale .  As long as the foreclosure levels remain higher, market pricing will remain lower than sellers would like.

In September 2010, single family homes level of inventory rose to 9.9 months from 9.5 months in August. The figure was 9.8 months in September 2009. This figure represents the number of months it would take to sell all available homes at the current pace. For Sarasota condos for sale, this number was 15.1 months, up from 13.5 months in August 2010.  The benchmark of a balanced market is about 6 months of inventory, so as most know, we are still in the “buyers market” area.

If you would like to buy your piece of Sarasota, contact me.  I am at your service!

Read the full press release for Sarasota Sales Statistics for September 2010 from the Sarasota Association of Realtors (1.4 Mb PDF)

You may also be interested in:

1. 

   Sarasota Fl. Housing Statistics – September 2008
2. 

   August 2010 Sarasota Housing Sales Statistics
3. 

   Sarasota Fl. Housing Statistics – October 2008

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes

Click on Images to Enlarge
Graphs and statistics provided by the Sarasota Association of Realtors

July 2010 was not-so-great for sales in Sarasota real estate, however this really was to be expected. The $8000 tax credit expired, so many first-time buyers pushed to purchase in the past previous months. Also, the news about the oil spill put many buyer’s plans on hold. I saw this first hand. June’s overall sales dropped 47% from the previous month. June’s sales were more reflective of the sales numbers we experienced prior to the buyer tax credit being a major factor.

Condo sales dropped from 200 in July to 151 in August. The stats show that distressed sales are continuing to fuel the market. If you are just looking at condo sales, the median non-distressed condo price was $227,500, but the median bank-owned sale was $73,000, and short sale was $121,500.

For the overall market, March and April months experienced pending sales (homes put under contract) in excess of 1000 per month, while July’s pending sales were 653. Again, this is primarily due to the expiration of the tax credits, and was to be expected.

One needs to look at the bigger picture of trends. The Sarasota market is heading the right direction overall, I remember a 19 month supply of single family homes at one time, but we are down to about 10 months now. We are definitely not immune to all the economic issues occurring nationally, but Sarasota a great place to live, and it’s on sale!

Trivia Question:
What percent of the overall Sarasota housing market is considered a distressed sale (Sarasota Foreclosures or Sarasota Short Sales) right now?
a) 35.4%
b) 48.7%
c) 56.4%
d) Who cares …I just want a great deal

If you answered “D”… all I can say is I like your style. The actual correct answer is “B”.

Read the full press release for Sarasota Sales Statistics for August 2010 from the Sarasota Association of Realtors (1.3 Mb PDF)

You may also be interested in:

1. 

   Sarasota Florida Housing Sales Statistics | March 2009
2. 

   Sarasota Florida Housing Statistics | June 2009
3. 

   Huge Sales Jump In March 2010 – Could Sarasota be a Seller's Market?

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes

Click images to enlarge

There is some great news just released from the Sarasota Association of Realtors.  This news supports what many buyers have experienced with multiple offers on distressed properties, and even competition on non-distressed homes.  Sarasota is still experiencing strong activity levels despite the tax credit ending.  This is a great sign that buyers see great value in Sarasota real estate.  Check out the press release:

The Sarasota real estate market remained active and vibrant in June 2010, in spite of the loss of the federal home buyer tax credits, oil crisis rumors, and the sluggish national economy.

Property sales in June 2010 in the Sarasota market once again topped the 700 mark, with 776 total sales – once again the highest of the year and the highest total since December 2005 when 784 properties were sold. The figure of 776 sales topped the May 2010 total of 766, the previous high, and was 27.2 percent higher than June 2009, when only 610 homes and condos sold.

In June, 576 single family homes were sold, 28.3 percent higher than June 2009, when only 449 single family homes sold. The median price was also trending higher at $175,000, the highest figure in 11 months. Not since June 2009 has the market seen single family home values this high.

Condo sales in June were 200, a 24.2 percent increase over June 2009, when 161 condos were sold. The median price of condos fell in June to $145,000, which primarily reflected distressed property sales. Non-distressed condo sales saw a median price of $236,000, while for distressed properties, the median sale price was $88,000, about a third.

For the last 12 months combined, the median sale price for single family homes was $165,000. For condos, the median price over the last 12 months was $185,000.

Pending sales were once again strong, hitting 767 – slower than the period during which homebuyers were eligible for tax credits. The March and April pending sales figures both topped 1,000 and reflected a last minute rush to beat the federal homebuyer tax credit deadline.

“With the expiration of the $8,000 tax credit we had anticipated a potential drop off in sales, but the level of pending sales still shows strength in the market,” said 2010 SAR President Erick Shumway. “The June figures are a testament to the strength of this market, and prove the old adage that all real estate is local. There are still a lot of serious buyers in our market, and we hope this very active period continues through the usually slower summer months.”

The level of sales of distressed properties (foreclosures and short sales) rose slightly in June 2010 to 44.6 percent of the overall market, from 40 percent in May 2010. The distressed market topped 48 percent in late 2009.

The property inventory level dropped below the 6,000 level in June 2010 at 5,993, which is the lowest level since late summer of 2005.

Another interesting statistic in June was the fact that in nearly every price range below $250,000, inventory levels have dropped below a six-month supply, entering “seller’s market” territory. This generally precedes a period when price appreciation should be expected.

The months of inventory for single family homes in May 2010 dropped to 6.6 months, the number of months it would take to sell all available homes at the current pace. This was a significant drop from June 2009 – 10.0 months – and very near equilibrium. For condos, the figure rose slightly to 10.6 months, much lower than last June’s figure of 16.1 months. Once the market reaches the 6 month level it is considered to be in equilibrium between a buyers and sellers market.

You may also be interested in:

1. 

   Huge Sales Jump In March 2010 – Could Sarasota be a Seller's Market?
2. 

   Sarasota Florida Housing Statistics | June 2009
3. 

   Sarasota Florida Housing Statistics | October 2009

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes

Overall property sales reached 753 in the Sarasota market in March 2010, the highest total since December 2005 and more than 56 percent higher than March 2009. Pending sales were also robust, standing at 1,060 – the highest total in the past four years. But perhaps the most telling statistic was that the median sale price for both single family homes and condos rose in March from the previous month, and prices were much higher than in March 2009. Members of the Sarasota Association of Realtors® sold 555 single family homes and 194 condos in March 2010, a huge jump over March 2009, which saw only 353 single family homes and 128 condos sold. Pending sales, at 1,060, were about 30 percent higher than last March, when only 817 were reported. This statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer activity. This also reflects the continuing push of SAR members in the early spring months to qualify clients for homebuyer tax credits, which expire on April 30th.

Median sale prices in the Sarasota real estate market were also up in March 2010 for both single family homes and condos. The median sale price for a single family home was $170,000, up 13.3 percent from February’s $150,000, and up 11 percent over last March’s figure of $152,125. For condos, the median price rose to $210,000 from last month’s level of $169,000, a 24 percent increase. Last year at this time, the condo median sale price was $166,750. For the last 12 months combined, the median sale price for single family homes was $162,950, while the median sale price for condos was $190,000.

The level of distressed property sales dropped in March 2010 to 41 percent of the overall market, compared to 47 percent of the overall market in February 2010. This was another encouraging sign as the spring continued to heat up the local housing market. The downward trend in the percentage of short sales and bank-owned foreclosure sales in the Sarasota market, if it continues, would be a harbinger of a market in full recovery, and should bring greater appreciation for the overall median sale prices.

“This was the best month we have had in four and a half years, and the numbers are very encouraging for our local real estate market,” said 2010 SAR President Erick Shumway. “Local Realtors® have obviously educated their clients on the pending expiration of the homebuyer tax credits, and this has certainly helped promote sales. But we have also seen resurgence in sales across the price spectrum – not just for first-time buyers. Hopefully, the continuing growth in our nation’s economy will propel this market even higher this year.”

The property inventory level remained steady in March 2010 at 6,342, only slightly higher than February’s total of 6,329 properties on the market. The inventory is still at the lowest level since late summer of 2005.

The months of inventory for single family homes was 7.2 months, the number of months it would take to sell all available homes at the current pace. This was a huge drop from February 2010′s number – 10.6 months – and very near equilibrium. Last year at this time, the months of inventory was 17.1 for single family homes. Once the market reaches the 6 month level it is considered to be in equilibrium between buyers and sellers. For condos, the months of inventory level was 11.8 months, the lowest level in several years, and far lower than the 21.2 months only a year ago.

Delving deeper into the statistics, homes in the lower price ranges have actually entered a “seller’s market,” with the month’s inventory supply at only 4.8 months for homes sold between $60,000 and $70,000 so far in 2010, and only 6.6 months for homes sold between $120,000 and $139,999 in 2010. This is a likely reflection on the homebuyer tax credit of $8,000 for first-time homebuyers.

You may also be interested in:

1. 

   Sarasota Florida Housing Sales Statistics | March 2009
2. 

   Sarasota Florida Housing Statistics | April 2009
3. 

   Sarasota Florida Housing Statistics | October 2009

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes

Click on Images to Enlarge
Graphs and statistics provided by the Sarasota Association of Realtors

According to the recent statistics released from the Sarasota Association of Realtors,  November 2009′s home sales in Sarasota are up 86% over the same period last year.  In November 2008, there were 311 sales posted, and this year that number escalated to 574.  There are currently 793 pending sales as well, compared to 504 last year at this same period.

The strong increase in sales clearly shows that buyers are taking advantage of market conditions to get a great buy.   Value for the purchasing dollar has not been this strong in many years in the Sarasota market.  Also, with the extension of the $8000 first-time home buyer credit, and addition of the $6500 credit for many existing homeowners, the trends will most likely continue into the next quarter of 2010.   Buyers who are searching in the under $300,000 are quickly realizing that they are many times competing with other offers.  Also, the average list price to sales price is currently 94%, so buyers taking an offer strategy of 20-30% off purchase price (which was common a year or so ago) will find themselves frustrated quickly.

Each property is different, and priced different.  Some are grossly overpriced, some are under-priced (and sell fast at or above list price) , and many are priced according to the median market price.  Taking a blanket approach to offers is a real poor strategy.   It is more important than ever to work with a dedicated agent that will help you every step of the way, including ensuring your offer finds success at a great price.

You may also be interested in:

1. 

   Sarasota Fl. Housing Statistics – November 2008
2. 

   Sarasota Florida Housing Statistics | April 2009
3. 

   Sarasota Florida Housing Sales Statistics | March 2009

Sarasota Real Estate | Sarasota Homes - Your One Stop Source For Sarasota Homes