Sarasota Florida Home and Condo Sales Continue at a Strong Pace in April

With a a total of 1,195 transactions closed in Sarasota County in April, 2014, the Sarasota Florida real estate market saw the second highest level of sales in its long history.

The median sale price for a single-family home continued to reflect a stable Sarasota real estate market with a moderate increase of only 3.8% in April. The median price of a condo, however, was up 8% from last month indicating growing interest in the maintenance-free lifestyle afforded by condominium living.

The median sale price for the 12-months ending in April, which tends to moderate monthly swings, for single-family homes was $189,900, about 15% higher than the previous 12-month period. For condos, it was $169,000, up 8.8% over the previous 12-month period.

Pending sales ( transactions were have been signed and agreed to but not yet closed) maintained a high level in April, at or close to the previous several months. Economists consider pending sales a good indicator of potential future closed sales. If this holds true, as it almost always does, May and June closed sales volumes should also be very strong. Pending sales in April were at 1,040 after peaking at 1,248 in March 2014 - a highly unusual level not seen for three years.

Sarasota Association of Realtors® President Peter Crowley said this week, “Activity has been robust, and clearly there continues to be tremendous interest in buying properties in Sarasota County. Last year, June and July also showed a high level of sales and activity in the Sarasota real estate market, and we are hoping for a repeat in 2014.”

As the final piece of good news, the inventory of homes for sale in Sarasota Florida dropped only slightly in April to 4,728 from the March figure of 4,810. A good supply of homes for sale on the market helps to keep prices from rising too rapidly.

If you can foresee a Sarasota home or condo in your future, please contact me at 941.266.1799 or E-Mail Me. It would be a pleasure to help you find the Sarasota home or condo that perfectly matches for your every need and wish.