Some encouraging news for interested home sellers came out of Sarasota County recently: Although real estate market activity slowed down a bit in January, it revved right back up in February. Experts credit the spurt in activity to record tourism numbers as well as increased home buyer interest. This further drives home the belief that not only is the Sarasota County real estate market surviving, but it’s improving as well!
Florida Homes for Sale in Sarasota County
According to experts, the year 2013 was actually the best year in terms of real estate activity since 2005. And despite the fact that January 2014 started with a slowdown in activity, the second month picked right back up! Because of that 180 on the housing market, experts are saying that January’s activity levels was most likely an anomaly and not a trend.
Here’s how recent market activity breaks down:
- 421 homes sold in the Venice area during January and February, compared with 404 homes during that same period in 2013.
- Meanwhile, prices have increased by 16 to 17 percent.
- In fact, the median home price has climbed from $145,000 last year to $170,000 this year.
- New construction is also on the rise, with more builders seeking out Sarasota County land to develop.
So What’s Driving These Market Improvements?
As with other parts of Florida, Sarasota County experienced an uptick in home buyer interest after extreme cold up north drove people down to Florida to stay for a while. Not surprisingly, some of these visitors fell in love with Sarasota County and started planning a relocation here.
Still, one thing that is hindering even more growth on the market is the fact that there are not enough homes for sale, experts say.
Generally speaking, a healthy market may have a six month supply of homes. Sarasota County currently has a four month supply. In fact, supplies are at the lowest point that they’ve been in the last seven years!
There’s no telling how much more robust the market would be if only there were more available homes to sell!
Your Dedicated Sarasota County Real Estate Expert
With plenty of pent-up home buyer demand, you should seriously consider listing your home on the Sarasota County real estate market. It very well could mean that homes like yours are in high demand.
So contact me, Dennis Kotaska, today to take that next step toward selling your property on the local real estate market! And make sure to also take a few moments to browse some of my valuable home-selling resources that are available online here, including my free home evaluation tool and neighborhood sold report!
Have a fantastic day!