3 Encouraging Signs on the Sarasota County Real Estate Market

How the Sarasota County Real Estate Numbers Add Up!

Home sellers all across Sarasota County are celebrating the latest market data released recently by the Sarasota Board of REALTORS®.

The latest data from SBOR® revealed three encouraging trends for home sellers:

The median sales price for single family homes has jumped by double digits.
The median sales price for condos has also increased significantly.
Year-over-year total property sales were also up.

Not Sure If Now is the Time to Sell?

If you’re currently thinking about listing your property on the Sarasota County housing market, you’ll definitely want to read this post to get a feel for current market conditions.

Sarasota County Real Estate Update

Here’s an overview of the current state of the Sarasota County housing market, based on the recent data from the local Sarasota Board of REALTORS®:

Single family home prices were at $189,950 in December, compared to $165,000 last year at this time.
That’s a 15.1 percent increase!
Meanwhile, Sarasota condo prices reached $182,000 in December 2013, compared to $165,100 last year.
That’s a 10.2 percent increase!
The 12-month rolling median (which accounts for monthly swings) was $184,900 for Sarasota single family homes in December 2013.
This marked a nearly 20 percent from last year at this time, which was when the price was $155,000.
For condos, the rolling median sales price was $164,900, which is up 10.1 percent over last year’s figure. At this time last year, that price was $150,000 for condos.
In December 2013, the total property sales in Sarasota County stood at 920, with 621 single family homes and 299 condominiums closing deals.
That’s compared to 906 for last December.
Meanwhile, the sales activity in December 2013 was better than the activity in November, which saw 787.
Thus, between November and December, sales increased by 16.9 percent.
For 2013, Sarasota County had the second highest number of sales ever tracked in the MLS system at 11,184.

What Factors Influence the Sarasota Real Estate Market?

Experts are saying that there are a variety of factors at play here. For instance, they noted that more buyers may be flooding the market because they’ve heard that mortgage rates will continue to rise in 2014. And more homeowners may be listing their home because their properties have appreciated and are no longer underwater.

Helping You List Your Sarasota County Home!

To capitalize on the recent activity on the local housing market, please contact me, Dennis Kotaska, your dedicated real estate expert! I’ll be happy to help you determine the true value of your Sarasota County home so that you can successfully list and sell your home!

Until next time,

Dennis

P.S. Thinking about selling your Sarasota home? Here are a few single family homes for sale in Sarasota.