Home Prices Rising in Sarasota

By | September 22, 2015

Click Here To Search The Sarasota MLS!

Home Prices RisingThe active inventory of properties for sale in Sarasota and Manatee counties continued to drop in August 2015, while the median sale prices skyrocketed over last year at this time, demonstrating a strong seller’s market in the region.

According to the Realtor ® Association of Sarasota and Manatee, the inventory of single family homes and condos fell to a combined 3,303 in Sarasota County and 2,534 in Manatee County. This compares to 3,745 last August in Sarasota County and 2,724 in Manatee County, or declines of 11.8 percent and 7 percent, respectively. When the market reached an equilibrium between buyers and sellers in 2013, there were roughly 5,500 properties for sale in Sarasota County and 5,000 for sale in Manatee County. Those figures have trended lower for over 30 months, and the current level represents about a 40 percent drop from those recent norms.

The lower inventory continues to propel median sale prices in both counties. In Sarasota County, the single family median climbed 21.1 percent, from $195,750 last August to $237,000 this year. In Manatee County, the increase was 18.8 percent, from $223,000 last August to $265,000 this year. Condo prices were also up substantially, from $177,000 to $220,000 in Sarasota County (24.3 percent) and from $122,000 to $155,000 in Manatee County (27 percent). The median sales prices were propelled by 50 sales in the twocounty region topping $1 million. However, balancing the high end were 647 sales below the $200,000 level in the two counties, or 36 percent of the overall market.

Click here to read the full press release from the Sarasota Manatee Association of Realtors.

Joe Cleary is a Broker Associate with The Cleary Group at RE/MAX Alliance Group. He is a Graduate of the Real Estate Institute (GRI), Certified Distressed Property Expert (CDPE) and a certified Short Sales and Foreclosure Resource (SFR). Call Joe with any real estate questions you may have toll free at 877-814-1233!

Joe Cleary is a Broker Associate with The Cleary Group at RE/MAX Alliance Group. He is a Graduate of the Real Estate Institute (GRI), Certified Distressed Property Expert (CDPE) and a certified Short Sales and Foreclosure Resource (SFR). Call Joe with any real estate questions you may have toll free at 877-814-1233!

Joe Cleary is a Broker Associate with The Cleary Group at RE/MAX Alliance Group. He is a Graduate of the Real Estate Institute (GRI), Certified Distressed Property Expert (CDPE) and a certified Short Sales and Foreclosure Resource (SFR). Call Joe with any real estate questions you may have toll free at 877-814-1233!

Joe Cleary is a Broker Associate with The Cleary Group at RE/MAX Alliance Group. He is a Graduate of the Real Estate Institute (GRI), Certified Distressed Property Expert (CDPE) and a certified Short Sales and Foreclosure Resource (SFR). Call Joe with any real estate questions you may have toll free at 877-814-1233!

Joe Cleary is a Broker Associate with The Cleary Group at RE/MAX Alliance Group. He is a Graduate of the Real Estate Institute (GRI), Certified Distressed Property Expert (CDPE) and a certified Short Sales and Foreclosure Resource (SFR). Call Joe with any real estate questions you may have toll free at 877-814-1233!

Joe Cleary is a Broker Associate with The Cleary Group at RE/MAX Alliance Group. He is a Graduate of the Real Estate Institute (GRI), Certified Distressed Property Expert (CDPE) and a certified Short Sales and Foreclosure Resource (SFR). Call Joe with any real estate questions you may have toll free at 877-814-1233!


Leave Your Comment

Your email will not be published or shared. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>