Want to know what people are buying today in Sarasota, Florida? Statistics for "Pending" home sales (homes that just came under contract March 1-5, 2019):
All companies: Total 115 newly negotiated contracts in past five days. Averages: 84 days on market, sq. feet 1,636, list price $356,000.
Homes listed by Michael Saunders & Co. that came under contract the past five days: Averages: 52 days on market, sq. ft. 1,753, list price $402,000. Note: these listings were on the market 32 days less than the average in Sarasota, indicating that they were correctly priced.
Contracts for Downtown Condos: Averages: 129 days on market, 1,684 sq. ft, list price $687,000.
Contracts for Villas: All areas, Averages: 79 days on market, 1,571 sq ft, list price $279,000.
Note that we do not know the negotiated sales price today, what is shown in MLS is only the current list price at time of contract. Negotiated sales price is confidential until closing; after that, it becomes public record.
Top Selling Areas (Location/Location):
Condos: Siesta Key, Downtown, Gulf Gate, Palmer Ranch.
Single Family Homes: Gulf Gate, University Town Center Mall area.
Villas: All areas.
Harbor Towers - see photos below.
5855 Midnight Pass Road, Siesta Key, Florida 34242
Two condominiums came under contract March 1-5th, average list price $367,000 for a one- and a two-bedroom units.
Team Dunn has two Harbor Towers listings today. 1 BR (Unit 624) $328,900; and 2BR 2BA(Unit 217) $375,000--note recent price reduction and room for washer/dryer. Boat slips available first come, first serve. Fishing pier and gazebo on the Intracoastal Waterway, large party room, outdoor grills, 2 pools, tennis courts, extra storage, new fitness center, rental office on-site, 24-hour security, on-site laundry facilities on each floor. Minimum 2- week rentals. Owners may have small pets.
Call Linda Holley, Realtor, GRI, Michael Saunders & Co., for more info on Sarasota home sales and Harbor Towers. 941-914-4914.
Harbor Towers Marina on Siesta Key Beach, FL
It has been my experience that often there is a "love-hate" relationship between Buyers and Sellers in a real estate transaction. It starts in the negotiation process, through the inspection period, all the way to the closing table--and sometimes afterwards. Legal battles are costly, and you are better off buying a Florida Lottery ticket rather than depending on the civil courts to handle your complaint quickly and to your satisfaction.
Realtors are trained to assist Buyers and Sellers by staying on top of the deadlines specified in the contract. Buyers and Sellers can be in default, and that's why it's important to find an experienced real estate brokerage to assist you. If you think you may buy a home "For Sale by Owner," (FSBO), it may be in your best interest to notify your realtor and let him or her assist; if you do it in the beginning, you can get assistance and the Seller will pay the 3% commission. IKnow when you can terminate your contract and get your deposit back, and missing the mark by a day can cost you thousands of dollars if you need to get out of the deal.
There are many horror stories about Buyers not getting the deed restrictions, not receiving or reading the condo docs, being outside the timeframe of inspection, seller deflecting responsibilities about repairs, rental and pet restrictions, special assessments, and the overall reputation of the builder or community. Also, some real estate brokers--even in this town--don't carry Errors and Omissions insurance to protect their agents. If your realtor drops the ball, do they have a broker who will back them up or shrug their shoulders and walk away?
In Florida, there are 5,000 applications each month for new realtors and brokers. About half don't pass the test, but those who do are depending on their brokers and other realtors to know the laws and help them through their transactions. Don't become a casualty, get the right help in the beginning.
Have a great day!
Linda
Our best months for Sarasota home sales last year were March-May. During that time, we sold more homes each month and the average price of homes sold was $284k. The rest of the year, total volume sales and prices varied each month. In January 2015, the average price of homes sold was $277k. Does that mean that prices are dropping? No, by comparison, Jan '14 to Jan '15, we sold six percent fewer homes this year (most foreclosures were sold by last year), AND the average price increased by $11k. Since the stronger months for home sales are March-May, using the January trend increase, then one can predict that the average price may be as high as $295 ($284+11) this spring.
If you are waiting to buy or sell your home in Sarasota, now is the time. So call me at 941-914-4914...I'm excited to work for you!
Data supplied by Trendgraphix 2/21/2015, * All reports are published February 2015, based on data available at the end of January 2015, except for the today stats. All reports presented are based on data supplied by the Mid-Florida MLS. The Mid-Florida MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the Mid-Florida MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
In Sarasota real estate today, we are seeing multiple offers and backup offers to purchase homes. Sellers can make costly mistakes when there are multiple offers...so Realtors and Sellers should exercise caution. In Florida, there is no contract until it is signed and delivered to all parties. A Seller with multiple offers should not make counteroffers on more than one contract at a time. Realtor should let their Sellers know about all offers, even after a contract has been executed. Why? Seller may receive a higher offer and there may be an opportunity to terminate and move on to the higher offer. This blog is intended as a "recap" of the information that I gleaned in the January 16, 2015 round-table discussion at the Board of Realtors. In no way does it reflect the details that Attorney Greenberg discussed on these issues. For more information about real estate in Sarasota, Siesta Key, and Palmer Ranch, contact Linda Holley, Realtor, Michael Saunders and Company, 8660 South Tamiami Trail, Sarasota, Florida, 34238 Phone 941-914-4914 PalmerRanchLindaHolley.com
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.