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,...