Spring Real Estate Sales in Sarasota Hit 8-Year High
by Andy Newton
The Sarasota housing market looks better than ever. Sales are on the upswing in the area, as the spring season showed an astounding number of sales and the momentum leading into summer is only building greater.
Record Number of Sales in April
Spring is typically a peak season for Florida real estate markets, but these past months have proven especially fruitful for homeowners in the Sarasota area. The number of sales for single-family homes hit 714 in April of this year and condominium sales reached 303, for a total of 1,017 closings, the highest one-month total since June 2005. These numbers show an increase of 14% from April of last year.
Sarasota property sales have not cracked the 4-figure mark since the marketís height in 2004 and 2005. April 2013 is the 10th month in the last 10 years in which sales have exceeded 1,000 properties. The all-time one-month record of sales in the area came in April 2004, with an impressive 1,223 sales recorded.
Prices on the Upswing
The record number of sales in April of this year was coupled by an increase in Sarasota housing prices. The median sales price for single-family homes rose to $217,000, an increase of 24% from last Aprilís rate of $175,000. This is the highest monthly figure in the area since August of 2008.
Pending Sales Suggest Continued Growth
Spring numbers were big, but information shows that this trend has not by any means subsided. The number of pending sales in the Sarasota area points to continued significant growth in months to come. The pending sales figure refers to the number of properties that went under contract during a given month, and so indicates sales that will potentially close in the following months.
Pending sales in April of this year reached 1,097 in Sarasota. Although slightly lower than the previous monthís figure, Aprilís numbers are up from those of the same month of the previous year, which peaked at 1,068. Pending sales in the Sarasota area have topped 1,000 every month so far this year, indicating strong sales in the months that follow.
Note: all statistics cited in this article are from this document.
About LeahLeah has been a Florida resident for the past 24 years, a licensed real estate agent for over 16 years and a Sarasota resident for over twelve. She has raised her two daughters, Renata and Curstin, in Sarasota with her husband Christopher. Leah enjoys spending time with her husband, children and son-in law.My Google Profile+ View all posts by Leah →
Leave a Reply
You must be logged in to post a comment.