February Real Estate Statistics for Sarasota

By | March 25, 2014

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Red Upward GraphThe Sarasota Association of Realtors most recent press release shows that property sales in Sarasota County for February 2014 maintained a very steady pace, and median sale prices for single family homes and condos also reflected market stability and integrity.

Single family prices have been remarkably even for the past 12 months, while condo prices have seen somewhat more volatility. February 2014 closed sales of 787 were down slightly (2.4 percent) from last February, when they were at 807, but up slightly from January 2014 (767).

The other notable market statistic was the recent marked decrease in short sales. Only 32 of the total 787 sales in February 2014 were short sales, compared to 98 in February 2013. Short sales have been trending lower since August 2013, and saw a significant drop off beginning in January 2014, when only 27 sales were short sales in the county. In June 2010, at the low point of the market, short sales accounted for almost 200 of the 933 total sales, and foreclosure sales represented another 207.

Foreclosures were still trending at about the same pace in February 2014, with 131 recorded. The lack of short sales may reflect the growing reluctance of mortgage lenders and banks to negotiate with delinquent property owners as the economy emerges from the great recession and the unemployment picture in Florida and across the nation improves.

To read the full press release visit http://www.sarasotarealtors.com/files/monthlystatistics/SRStatsFeb2014140320112035.pdf


1 Comment

Stephen in Orlando on April 14, 2014 at 3:04 pm.

It will certainly be interesting to keep up to date the realty stats in Sarasota. This is an active market and I usually can obtain some valuable insights by comparing it month to month with the Orlando real estate market. For instance, home prices in Orlando continued their impressive climb in February. I don’t think many in the industry expected prices to continue climbing at this pace after the record breaking year we witnessed in 2013.

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