Things just keep getting better and better for the Sarasota County, FL real estate market!
Everything from the total home inventory to the median sales price is improving, demonstrating that our local housing market is headed for a strong and extended recovery period!
The recent market activity has been so encouraging that home owners are rushing to list their homes on the market in the hopes of capitalizing on the newfound home buying fervor!
Home Buyers Are Eager to Invest in Sarasota FL Real Estate!
- The Sarasota County new listing inventory has climbed to a 32-month high, jumping 10.6 percent from December 2013.
- Inventory levels are now 30 percent above the recent low that the market experienced in July 2013 (which was only six months ago)!
- The median sales price for single-family homes has jumped 21.3 percent from January 2013 to January 2014.
- Meanwhile, the median sales price for condos was up 17.1 percent.
- Despite the large year-over-year increases, local sales prices have actually been pretty stable over the last several months. This, experts say, is yet another indication that the market is getting healthier!
- The 12-month rolling median for single-family homes was $187,000 in January, marking a 20 percent year-over-year increase.
- Meanwhile, the rolling median for condos was $165,000, up 10 percent from the previous year.
- In January, closed sales showed a 10 percent year-over-year increase, although they were actually down from December. Experts note that this is actually fairly typical.
- In all of 2013, Sarasota County had the second highest number of home sales ever tracked by the MLS system with 11,184.
- Distressed property sales represented 24.9 percent of all January 2014 sales, which marked a slight increase from December.
- Still, it’s considerably lower than where it was in 2011, which was closer to the 50 percent mark!
- Now, roughly 12.1 percent of the current Sarasota home inventory is distressed properties, which is down from 12.5 percent in December.
No Indication Sarasota FL Real Estate Activity Will Slow Soon!
Citing recent activity, experts note that the rest of 2014 may see even more impressive real estate improvements.
The next big jump in sales activity will likely be during the spring months, which is typically a busy time of year for any real estate market.
That’s because buyers are preparing for a move that will be completed by the time school starts back in the fall.
Tourism May Also Boost Real Estate Activity!
Experts are also saying that an unseasonably cold winter up north may drive more people to spend their vacations in the Sarasota, FL area.
This will invariably lead to more people falling in love with our incredible area, which may result in them wanting to invest in real estate here!
Sarasota’s Real Estate Market Has Turned a Corner!
As an experienced Sarasota County real estate agent, I’m highly encouraged about the recent activity on the market. The recent activity is sure to benefit anyone trying to sell their property right now!
I would be happy to talk with you about your current situation and discuss whether now is the right time for you to list your property.
Have a fantastic day!
P.S. Take a look at our “Trending Real Estate Searches in Sarasota”