Real Estate in Sarasota Slightly Cools in July

Property sales in Sarasota, Florida, county wide, reported by the Sarasota Association of REALTORS totaled 928 closed transactions in July 2014. Single family homes sales totaled 643, and condos sales totaled 285. These figures show a cooling period. Closings were down 11.4 percent from June 2014 and down 4 percent from July 2013.

SAR report “sales the first seven months of 2014 remain ahead of the near record sales pace of 2013, an historic year for property sales in the county with the second highest number of sales in SAR's 91 year history. The first seven months of 2014 saw 6,875 sales, compared to 6,786 last year at this time.”

"For the past several years, we've seen reductions in July sales numbers, so this is not a surprise," said Sarasota Association of Realtors® President Peter Crowley. "What is surprising is that July was the first month in six years that we've seen both property categories - single family and condos - top the $200,000 median sale price level. The last time that occurred was in August 2008. We may have reached new balanced, sustainable price points in the market."

"We remain statistically in a seller's market, with low inventory and prices on the rise," said Crowley. "All the numbers point to a very healthy 2014 for Sarasota County real estate."

Sarasota, Florida remains one of the country's top destination cities. With its warm climate and white sandy beaches, Sarasota real estate continues to be in high demand.

If you would like the complete SAR report, along with two pages of statistical charts, please contact us.