Featured Real Estate Article

Home Prices Are Rising in Sarasota

By | February 25, 2016

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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Sarasota and Manatee Counties Have Record Year for Real Estate Sales

By | January 28, 2016

Real Estate Up Graph

Real Estate Up GraphThe Realtor Association of Sarasota and Manatee reports that the year 2015 was one for the record books in real estate sales for both Sarasota and Manatee counties, closing out the year with an all-time record of 20,691 in combined closed transactions, 1,302 sales above last year’s numbers.

There were 1,671 combined sales in both counties in December 2015, 28 percent higher than November, but down slightly from December 2014. Median sale prices increased across the board. Single family prices rose 22 percent in Sarasota County to $239,900 and nearly 12 percent to $262,963 in Manatee County. Condo prices were also up 22 percent in Sarasota County, at $217,000, compared to $178,249 for Manatee County, an increase of 6 percent.

Inventory of available properties continued to decline in both counties. For single family homes in Sarasota County, inventory is down 2.8 percent from December last year, and down 3.2 percent in Manatee County. Condo inventory for Sarasota County is down a mere 1 percent, while Manatee County increased 4 percent.

New Pending sales, which reflect new contracts written in the two-county area, were down 11.3 percent for single family homes, and remained unchanged for condo sales year over year. This may be a reflection of the declining inventory of properties for sale, as buyers face the challenge of finding the right property and even then may face a multiple-offer situation, competing against other buyers for the same property.

To view the full press release and statistical charts visit Realtor Association of Sarasota and Manatee.

 

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Sarasota / Manatee Real Estate Market Going Strong in 2015

By | January 22, 2016

Housing Market Up

Housing Market UpThe Realtor Association of Sarasota and Manatee is on pace to record the highest number of sales in its 100‐year history. In 2014, a total of 19,389 properties were sold in Sarasota and Manatee Counties. With 19,020 sales recorded in the first eleven months of 2015, only 370 property sales are needed in December to break the record. Sales have exceeded 1,000 every month this year, so it seems assured that 2015 will be a historic year for real estate sales.

Sales in November were 2.6 percent higher than last November, but were down from October in both counties, a very typical trend. Median sale prices have increased from November 2014 compared to November 2015. Sarasota county saw an 18.5 percent increase in single family home median sale prices; while Manatee County experienced a 14.9 percent increase. In addition, condo median sale prices are up in both counties, Sarasota coming in with a 13.17 percent increase, and Manatee County with 12.8 percent.

To read the full press release and view the statistics visit: Realtors Association of Sarasota and Manatee

 

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Sarasota Named #1 Market for Florida Beachtowns

By | January 19, 2016

Sarasota

SarasotaIt is always nice to see where you live in a positive light. Most of us that are fortunate enough to live in Sarasota know that we live in paradise. Apparently the word is getting out to the rest of the world as well. A client who just moved here and loves Sarasota sent me the link below. Check out which city is ranked NUMBER 1 at the link below!

Realtor.com

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Where to Retire in Sarasota

By | December 14, 2015

Sarasota Retirement

Sarasota Retirement

What type of retiree are you? No matter what type…Sarasota has you covered! Read this article in Sarasota Magazine to find out how our area can meet all your retirement needs…

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Real Estate Market Still Strong in October

By | December 1, 2015

The Sarasota Manatee Association of Realtors reports that the October real estate market in Sarasota and Manatee counties remained strong, with overall sales slightly lower than September and last October, but median sale prices up substantially over last year at this time.

Property sales in October totaled 880 in Sarasota County and 708 in Manatee County, for a combined 1,588, down about 1 percent from the September total of 1,608. The median sales prices saw both increases and declines. Single family homes in Sarasota County saw an increase of almost 3 percent from September to October. In Manatee County, there was a drop of 2.6 percent in the single family category. Condos in Sarasota County saw a drop of 5 percent from September to October, while in Manatee County condo median sale prices rose about 8 percent from September to October.

Comparing prices this October to last year at this time, all categories rose. The biggest increase by category came in condo sales in Manatee County, which saw prices rise by 29.7 percent year over year. By contrast, Sarasota County saw a modest condo median sale price increase of 5.7 percent. For single family homes, Sarasota County recorded a 17.9 percent rise and Manatee County saw a 12.1 percent rise.

To view the full press release and statistical charts click here.

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Sarasota Real Estate Market Update

By | August 27, 2015

Housing Going Going Gone

Housing Going Going GoneThe Sarasota Manatee Board of Realtors just released the sales figures for July which show the pace of property sales in Sarasota and Manatee counties continued at a record annual rate, with 1,974 closings, up 23.5 percent over last July’s combined total of 1,600 for the two-county region. If the final five months of the year continue at this pace, 2015 will end with the highest number of sales in the region’s history.

Sales in Sarasota County hit 1,174 in July, only 9 sales below the June total and once again near the all-time record of 1,224 set in April of this year. Manatee County saw total sales of 768 in July, below the June figure of 875, but well above the July 2014 total of 672.

Sales levels in both Sarasota and Manatee counties have been at historically high levels for several months after a record-breaking 2014. Median sale prices have also been trending upwards year-over-year. For Sarasota County, the July 2015 single family median sale prices were at $219,500, down slightly from last month’s figure of $230,000, but up about 9.2 percent over last July’s figure of $201,000. Manatee County was at $250,000, again down slightly from June but up 8.7 percent in over last July. However, for condos, Sarasota County saw median prices drop to $190,000 from last July’s figure of $205,000, while Manatee County was up 18.3 percent over last July at $152,000. Condo prices in Sarasota County have tended to fluctuate month to month more than single family.

To read to full press release and statistical charts by county visit:

Sarasota Manatee Real Estate Statistics for July 2015

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Home Sales Continue On Record Pace

By | June 23, 2015

House Upward Graph

House Upward GraphThe residential real estate market in May 2015 in both Sarasota and Manatee counties continued to produce near-record sales, pointing toward another potential recordbreaking year in 2015. Overall sales in Sarasota County hit 1,182, only 42 sales below last month’s all-time monthly record, while Manatee County saw total sales of 827, higher than April’s figure of 813 and last year’s May total of 752.

Sales levels in both Sarasota and Manatee counties have been at historically high levels for several months, and median sale prices have also been trending upwards. The May 2015 median sale prices were up 20 percent for single family homes in Sarasota County, and 14.3 percent in Manatee County over last May. For condos, Sarasota County also recorded a 20 percent price rise, while Manatee County was up 1.5 percent.

To view the full press release from the Sarasota Manatee Association of Realtors and statistical charts click here.

 

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Home Sales in Sarasota Hit an All-Time High

By | June 5, 2015

Property sales in April 2015 in Sarasota County totaled 1,224 (791 single family and 433 condos), exceeding the all-time high reached in April 2004 by a single sale. Manatee County recorded 813 sales (539 single family and 274 condos), not a record, but very high compared to recent months. The historic level of sales activity has been driven by several factors, according to local real estate leaders.

Sales levels in both Sarasota and Manatee counties have been bubbling at the top of historically high levels for several months. In March, overall Sarasota County sales were just below the all-time high, while Manatee County sales were also much higher than the traditional volume seen in recent years. In April, the record in Sarasota was finally exceeded, while in Manatee, sales remained at near the highest level in history. At the current pace, both counties will exceed their all-time annual highs in 2015.

To view the full press release and statistics click here.

 

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Sarasota Monthly Market Summary for March 2015

By | April 28, 2015

MARCH MADNESS! It was a great month of March in Sarasota, FL! The local real estate market here was pretty darn hot and prices have shot up. Typically, this is the case in our area as our busier selling season winds down and those snow birds enjoying their 3 or 4 months down here finally hop off the fence and make a purchase in the frenzied March market…

In comparing Single Family Homes in March 2014 to March 2015 in Sarasota:

*Closed sales shot up from 689 to 789. A 13% increase.

*New listings increased from 960 to 1,016 as Sellers hop off the selling fence as they see sale prices improve.

*Median Sale Price improved from $189,472 to $207,500. A 9.5% increase!

*Median Days on the Market dropped from 56 days to 43 which is a 23.2% drop.

*Inventory of Active Listings fell from 3,298 to 3,039. A 7.9% decrease.

*Months supply of inventory also decreased from 5.3 months to 4.5%. A 14.6% fall.

In comparing Condominiums in March 2014 to March 2015 in Sarasota: *Closed sales shot up from 352 to 412. A 17% rise.

*New listings went up from 445 to 510. Again, as Sellers hop off the selling fence and sale prices improve.

*Median Sale Price improved from $170,900 to $180,745. A 5.8% rise.

*Median Days on the Market dropped from 53 days to 47 which is a 11.3% decrease.

*Inventory of Active Listings fell from 1,512 to 1,379. An 8.8% drop.

*Months supply of inventory also decreased from 5.0 months to 4.6%. A 6.9% fall.

In looking at our Single Family Homes “Distressed Market”, March to March looks like this:

TRADITIONAL SALES: *Traditional Sales-Closed sales shot up from 502 in 2014 to 615 this March. A 22.5% increase.

*Traditional Sales median prices crept up slightly from $236,500 to $238,000.

FORECLOSURE/REO SALES:

*Foreclosure/REO-Closed sales dropped slightly from 154 to 149.

*Foreclosure median sale prices went up from $108,967 to $129,900. An increase of 19.2%.

SHORT SALES:

*Short Sales-Closed sales decreased from 42 to 25 which was a 40.5% drop!

*Short sales median sale price went from $111,000 to $127,200 year over year. A raise of 14.6%

In looking at our Condominiums “Distressed Market”, March 2014 to March 2015 looks like this:

TRADITIONAL SALES: *Traditional Sales-Closed sales went from 314 in 2014 to 377 this March. A 20.1% rise.

*Traditional Sales median prices crept up slightly from $178,000 to 186,000. A 4.5% rise.

FORECLOSURE/REO SALES:

*Foreclosure/REO-Closed sales dropped from 29 to 26. A decrease of 10.3%.

*Foreclosure median sale prices went up from $97,555 to $100,950. An increase of 3.5%.

SHORT SALES:

*Short Sales-Closed sales stayed the same in this category at 9.

*Short sales median sale price went from only $80,000 to $245,000 year over year. A raise of 206.3%. I think the banks are on to it!

Enjoy the rest of April!

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