The Current State of the Real Estate Market in Sarasota

By | November 27, 2012

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The Sarasota real estate marketplace is a much healthier place than it has been for over five years.  The median sale price for single-family homes now stands at $169,950, while condo prices surged to $175,400 from last year’s median prices of $140,000. condos.

Across the United States, home prices are continuing to strengthen, according to the CoreLogic Home Price Index (HPI).  The index showed that home prices increased by 4.6% last month, the  biggest year-over-year increase since July 2006.  Sarasota, being one of the most attractive places to live, work and retire,  is simply leading the way back to a healthy real estate market.

The inventory of single-family homes for sale is near a 10-year low with only 4.4 month supply of single-family homes currently available in this market.   The availability of condominiums, while still above the  equilibrium level has fallen from 11.1 months last year to 8.5 months today.  The term “months of inventory” represents the time it would take to deplete the current inventory at the current sales rate.

The news is unambiguous and clear.   The Sarasota real estate market has recovered and is no longer a “buyer’s  market” where prospective buyers are at an advantage.  There are still attractive homes attractively priced in the Sarasota, Lakewood Ranch and Bradenton area  for those willing to get involved immediately.  And with slightly more than an equilibrium number of condominiums on the market, there are still a few bargains available to those seeking an in-town or waterfront condo property.

I would be delighted to show you the many luxury home and condominium options available to you throughout the Sarasota real estate market including those on our gorgeous barrier islands, Longboat, Lido, Bird, Siesta and Casey Key.

Come experience Sunny Sarasota Florida. To learn more about Sarasota’s golf courses, soft beaches, friendly neighborhoods, or cultural amenities ?  Request my Free Sarasota Florida Real Estate Package or call me directly at (941) 724-3352.

Use my Sarasota real estate expertise to find your perfect seasonal or year-round property in Sarasota Florida or in the neighboring communities of Bradenton, Siesta Key, Osprey and Venice.


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