Home Prices Are Rising in Sarasota

By | February 25, 2016

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The Realtors Association of Sarasota and Manatee report that the end of 2015 witnessed record breaking sales for both Sarasota and Manatee counties. January sales reflected the expected seasonal dip as a result of reduced buying activity during the holidays, even as median prices continued to rise.
For the month of January, Sarasota County experienced a slight 1.2 percent rise from last year in total sales for single family homes at 520 sales, while condos were down 5.2 percent with 217 closed sales. In Manatee County, single family homes were down 5.4 percent from last year to 385 total sales, but condo sales rose 2.6 percent with 156 closed sales.
A good indication of a robust market, the median sale prices remain healthy and increased in both counties over last year. Single family median prices rose 21.3 percent in Sarasota County to $230,500, and climbed 10 percent to $274,900 in Manatee County. Condo prices were also up 17.8 percent in Sarasota County, at $218,000, compared to $169,950 for Manatee County, an increase of 6.3 percent over last year.
Inventory of available properties continues to be an issue for buyers, but showed small improvement. For single family homes in Sarasota County, inventory is down 1.5 percent from January last year, and up 2.4 percent in Manatee County. Condo inventory is up in both counties, with Sarasota County up 6.1 percent, while Manatee County saw an increase of 9.6 percent.
To read the complete press release and view the statistical charts visit the Realtors Association of Sarasota and Manatee website.

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