Sarasota Real Estate Sales Up in January 2013

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 take advantage of the spring buying season, so our inventory level has increased slightly." "The biggest current trend remains the high level of market activity - foot traffic at open houses, competitive bidding for available homes, and tremendous volume of sales."

Dropping to $183,800, the median sale price for a single family home was slightly under the December 2012 median price of $189,500. The median price was “14 percent higher than last January's median of $162,000 for a single family home.”

Median sale prices for condos dropped considerably in January 2013 to $130,000 from December 2012’s figure of $182,500. Last January the median price was $180,000.

You can review the entire SAR press release if you click here. The report is published with statistical charts.

Contact Annette Smith at 941-504-3922 if you are interested in single family homes on one of Sarasota's barrier islands or in golf course communities. Visit our website for available properties:

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