2013 Excellent Year for Sarasota Real Estate
As 2013 closed, the Sarasota Association of REALTORS posted another good property sales report. Total sales in the county for December 2013 totaled 920. Single family homes were the hot subject with a total of 621 sales. Condo sales were short of the 300 market by one sale. December sales were 16.9 percent better than the 787 November 2013 reported sales. For the full year 2013, Sarasota County had the second highest number of sales ever tracked in the MLS system at 11,184.
Median sale prices for single family homes and condos in December 2013 were higher than last December too. Single family home prices were $189,950 in December, compared to $165,000 in 2012, increasing 15.1 percent. Condos also saw a rise in price to $182,000...
Total real estate sales in Sarasota County slowed a tad after “large year-over-year increases over the summer months in October 2013.” Property sales totaled 818 in October 2013 compared to 793 sales in October 2012. Last month’s total sales of 817 were almost identical to the latest sales results. Of the total sales in October, 582 single family homes and 236 condos sold compared to 518 single family homes and 275 condos in 2012.
“Median sale prices climbed dramatically in Sarasota County in October 2013 compared to last October numbers. Single family home prices were up 11.6 percent ($185,776 this year compared to only $166,500 last year), and condo prices spiked by 20.7 percent ($175,000 this year compared to only $145,000 last October)....
Sarasota property sales totaled 817 for September 2013. In Sarasota County, 545 single family homes and 272 condos sold increasing 22.5 percent higher than September 2012. Total sales were down 14.6 percent from August 2013.
The 4th quarter of 2012 pointed to a strong fall sales period, and this year's pending sales is following the same pattern. Pending sales in September 2013 totaled 750.
“The median sale price for single family homes in the county in September 2013 was $185,902, 18.5 percent higher than the September 2012 median price of $157,000. The figure was 5.1 percent lower than August's number of $195,000. Condo prices were at $165,000, up 6.4 percent over last September's median of $155,000, and slightly higher than the August 2013 figure of $161,000.”...
August Sarasota County Real Estate Strong
Only 12 sales separate the August 2013 property sales in Sarasota County from sales recorded in July 2013. Sales totaled 957, and the data report shows 11.6 percent higher sales than in August 2012. The median sale price for single family homes in the county rose too.
Median Sales Price
- July 2013 Single Family Homes $189,900
- August 2013 Single Family Homes $195,000 - up 30% up from 2012
- August 2012 Single Family Homes $150,00
- July 2013 Condos $159,000
- August 2013 Condos $161,000 - up 7.1% from 2012
- August 2012 Condos $148,889
Pending sales or properties under contract in August 2013 totaled 864 – up approximately 1.7 percent...
The Sarasota Association of Realtors® reported great news today as a continued strong real estate market resulted in members closing 911 sales during the month of July. This is a 30.3 percent increase over July 2012. It is also 3.2 percent higher results than June 2013’s total sales. Our market is still on track to 2013 being “one of the biggest in SAR’s history.”
In addition to the strong sales for July, there was a rebound in the median sale price for single family homes. “The price went from $200,000 in June 2013 to $227,500 in July 2013, a 7.2 percent increase. For the 12-month rolling median price, the single family home figure was at $195,000, a 16 percent increase over last year at this time when the rolling median price was at $168,500. If current trend levels continue,...
June 2013 Sales Report
The big story in Sarasota real estate market is the low inventory of available properties. There are 3,114 homes for sale in June 2013. This is the lowest level in more than ten years. Last year, at the same time, the inventory figure was 18% higher. Historically, declining inventory results in rising prices and multiple offers on homes and condos for sale.
The Sarasota Association of Realtors® just reported its members "sold 883 properties in June 2013, a drop from the May 2013 figure of 1,020 which represented an eight-year high, but up 2 percent over June of last year. The Sarasota real estate market tallied 642 single family homes and 241 condominiums in June 2013, compared to June 2012 totals of 603 single family homes and 261 condos sold."
Sales were up 13.8 percent over last year for the first half of 2013. Our local real estate market could end up finishing out 2013 "as the second highest sales year in the 90-year history of SAR, surpassed only by 2004's record...
With the winter season in full swing, the Sarasota real estate market reported sales up by 24 percent in February 2013, compared to February 2012. Continuing from a 22 percent January increase, it looks like the year could continue to reflect 20 percent monthly sales increases and we could be in for a record year.
“Members of the Sarasota Association of Realtors® sold 733 properties in February, compared to only 591 sales last February, and 626 closings last month. The breakdown was 504 single family homes and 229 condominiums. That compared to 414 single family homes and 177 condos sold in February 2012. In 2012, sales increased markedly in February, March and April, climbing to 886 closed transactions in April before moderating in the summer months.”
Pending sales totaled 1,138 in February, above January's total of 1,047. February’s pending sales figure was the...
With the remaining inventory of properties “near the lowest level in a decade,” the Sarasota real estate market reported sales up by a 22 percent pop in January 2013, compared to January 2012.
The Sarasota Association of Realtors® reported data in a press release that members sold 626 properties in January - 466 single family homes and 160 condominiums. In January 2012, 365 single family homes and 148 condos sold.
Pending sales, a forecast of future real estate closings totaled 1,047 in January. This was the highest level in nine months, and above the 963 pending sales reported in January 2012, indicating that February sales should also remain strong.
While the available inventory remained near its lowest level in the last 10 years, it rose somewhat in “January 2013 to 3,846 from the December 2012 total of 3,657. The figure was still 1,000 fewer properties than in January 2012.”
SAR President Roger Piro stated "We are seeing some sellers returning to the market to...
Real estate property sales in 2012 recorded the fourth highest in history of the Sarasota Association of Realtors®. Quite impressive for a 90 year figure! Sales totaled 9,169.
Yearly Sales Data
- 2003 Sales 9,697
- 2004 Sales 11,267 (current high)
- 2005 Sales 10,562 2006
- Sales 6,358 2008
- Sales 5,820 (bottom)
Since 2008, real estate sales have begun a climb to the current level.
In December 2012, 828 properties sold, an 8.3 percent increase from November 2012 and a large increase of 28 percent over December 2011 when 644 properties sold.
Single family homes sales totaled 606 in December and 222 condo sales were closed. Last year in December 471 single family and 173 condos were sold. Inventory of real estate on the market in Sarasota remains near the lowest level in the last 10 years. Mortgage interest rates remain low as the local and national economies improve which are additional factors in our real estate recovery.