Sarasota Real Estate Sales Remain Steady - February 2014

Aerial of beachfront condosWhite Sandy Beach Real Estate Sales Remain Steady

The Sarasota Association of REALTORS® just released Sarasota real estate sales data for February 2014 reporting a steady paced market. Overall sales for February 2014 totaled 787, down 2.4 percent from last year’s 807 figure. Sales, however, were up from January 2014’s total of 767.

The Board also reported that short sales were down. “Only 32 of the total 787 sales in February 2014 were short sales, compared to 98 in February 2013.” “Foreclosures were still trending at about the same pace in February 2014, with 131 recorded.”

The median sale price for the 12-months ending in February was $188,000 for single family homes, about 20 percent higher than February 2013’s 12-month period. For condos, the median sales price was $165,000, up 9.2 percent over the previous 12-month period.

Pending sales remained high, a good indicator of good sales in March, April and May. Inventory levels have been on the up and rose again in February 2014, “topping 5,000 for the first time since May 2011 - almost three years ago. The low point in the recent market was in July 2013 at 3,747 - about 34 percent lower than the current level.”

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