Updates

Sales Stay Strong in Sarasota Real Estate

By | November 5, 2015

REMAX Sold Sign

REMAX Sold SignProperty sales in Sarasota and Manatee counties were somewhat slower in September 2015, but the drop off from August was expected after an unprecedented six month run of record-setting closings. In addition, the start of fall 2015 looks a lot like the same time last year, but with one major exception. Single family home median sale prices in both Sarasota and Manatee counties have risen sharply over last year at this time, once again reflecting the law of supply and demand as single family home stocks dwindle.

According to the Realtor ® Association of Sarasota and Manatee, overall property sales in September 2015 stood at 1,608 for the two counties – 927 closings in Sarasota and 681 closings in Manatee. Sarasota County fell short of the 1,000 level for the first time since February, ending the record of six consecutive months over 1,000 – something that has never happened before in Sarasota County.

The overall regional sales compared to 1,709 sales in August 2015, or a 5.9 percent drop, but were slightly higher (1.8 percent) than last September’s sales of 1,578. The August to September sales drop was almost identical last year, with a small decline from late summer to early fall. However, if the recent trend continues, October 2015 could see another sales surge, as the last four years has seen marked improvement in the number of closings as winter residents and visitors returned to the market.

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

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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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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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Sarasota Real Estate Statistics for August 2014

By | October 2, 2014

graphThe Sarasota Association of Realtors recently released the sales statistics for the month of August 2014 which show sales remaining strong during the month. Homes and condos continued to sell at a brisk pace in Sarasota County in August, once again nearly reaching the 1,000 level with 975 closed transactions. The eight-month total from the start of the year now stands at 7,850, about 100 sales ahead of last year’s near record totals.

The breakdown for closed sales in August 2014 was 698 single family homes and 277 condos sold, according to figures released by Florida Realtors®. Closings were up 5 percent from last month (July), when they hit 928, and up 1.8 percent from August 2013, when there were 957 closings.

The median sale price for single family homes stood at $195,750 in August 2014, down slightly from the July figure of $201,000, and almost identical to last August’s figure of $195,000. The condo median was $177,000, down 16 percent from the July 2014 figure of $205,000, but almost 10 percent higher than last August, when the median sale price was $161,000. The fluctuations in condominium prices have not been unusual in recent years, compared to the steadier nature of the single family home market, and tend to reflect the buying tendencies of investors and the “downsizing” couples seeking a smaller abode.

To view the full press release and statistical charts visit http://sarasotarealtors.com/files/monthlystatistics/Aug2014Stats14092283021.pdf

 

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Hot Streak Continues for the Sarasota Real Estate Market

By | July 22, 2014

The Sarasota Association of Realtors just reported that for the fourth straight month, property sales in Sarasota County topped 1,000 in June 2014, continuing a hot streak and signaling burgeoning strength in the local real estate market.

Closed sales in June this year totaled 1,048, an improvement of 5.1 percent from the June 2013 figure of 997 sales. The breakdown was 727 single family homes and 321 condos sold, according to figures in the My Florida regional MLS system. Closings were off slightly from last month (May), when they hit 1,100 exactly.

The first half of 2014 remains ahead of the near record sales pace of 2013, an historic year for property sales in the county with the second highest number of sales in SAR’s 91 year history.

To view the full press release visit http://www.sarasotarealtors.com/files/monthlystatistics/June2014Stats14072295653.pdf

 

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Sarasota Real Estate Sales Strong in May

By | June 25, 2014

a-housing-graph

a-housing-graph

The Sarasota Association of Realtors just released the sales statistics for the month of May which show the early summer started as hot as the spring in Sarasota County for property sales, with exactly 1,100 closed sales reported in May 2014 – 747 single family homes and 353 condominiums. The figure was slightly lower than April’s total of 1,195, and also slightly lower than last May, when 1,127 closings were reported in the My Florida Regional MLS system. The first five months of 2014 remain ahead of the scorching pace of 2013, an historic year for property sales in the county with the second highest number of sales in SAR’s 91 year history.

“Sarasota County real estate is such an amazing success story in the past two years, particularly coming from where we were in 2010,” said Sarasota Association of Realtors ® President Peter Crowley. “I think this is a tribute not only to our home market, which is one of the best in the nation, but also to our collective group of SAR brokers and agents who have truly upped their game. We emerged from a tough environment and are now leading the pack.”

Click here for the full press release http://www.sarasotarealtors.com/files/monthlystatistics/May2014Stats14062335206.pdf

 

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March Real Estate Statistics for Sarasota

By | April 29, 2014

a-housing-graph

a-housing-graphProperty sales in Sarasota County for March 2014 topped 1,000 for the first time since May 2013, repeating a spring sales surge witnessed in the past few years. In addition, distressed sales remained far below the levels experienced four years ago (see P. 14 article), indications of a strong market returning to historic norms.

Median sale prices for single family homes and condos also continued to reflect a stable market, with no signs of wild price swings. Single family prices have been remarkably even for the past 12 months, while condo prices have also stabilized.

To view the full press release visit the Sarasota Association of Realtors website at http://www.sarasotarealtors.com/files/monthlystatistics/March2014Stats140422102558.pdf

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Links at Rosedale Continues to Grow

By | November 22, 2013

Rosedale EntranceThe Links, the newest phase of Rosedale Golf and Country Club, announced the recent approval of a second site plan featuring 221 home sites. Company officials report more than half of the 224 homesites in the original plat have already been sold or spoken for. The Links contains a total of 445 single-family home sites, many with premium water or preserve views. Builders have submitted 45 homes for permitting, some to be used as models and others for inventory or with sales pending. Rosedale Golf and Country Club was established in eastern Manatee County in 1993. The Links is situated on an adjacent 237-acre property and has been designed and built in keeping with the natural beauty and mature woodlands of the existing community.

 

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Sarasota Real Estate Sales in September

By | October 26, 2013

a-housing-graph

a-housing-graphThe Sarasota Association of Realtors recently reported that property sales in September 2013 in Sarasota County hit 817 (545 single family homes, 272 condos), 22.5% higher than in September 2012. However, the total sales figure was down 14.6% from August 2013, when 957 sales were closed, mirroring a similar late summer drop last September.

To view the full report and statistics click here.

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NEW SARASOTA COMMUNITY! Esplanade By Siesta Key

By | November 28, 2012

There is a new 77-acre planned community literally 1 mile from Siesta Key on Stickney Point Rd. coming soon! Esplanade By Siesta Key as it is now called is planned to be built in 2013 and is expected to have up to 247 homes. Taylor Morrison is involved as the builder and the community is slated to have a heated pool, clubhouse, fitness center, sports courts, a fenced dog-walk “bark-park”, BBQ area and fire pit.

IF YOU HAVE ANY INTEREST in this community, please contact Joe Cleary of The Cleary Group NOW so we can keep you informed as to the progress of this new community and its super central Sarasota location! Email Joe at joe@theclearygroup.com.

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