It’s no wonder that you are confused about what’s going on in Sarasota’s real estate market with what you hear and read in the media. Since a large percentage of visitors are in Sarasota during the winter, our best months for home sales are in the spring; in Mar-May ’14 the average price of homes sold in Sarasota was $284k. The remainder of the year, total volume sales varied.
In Jan ’15, the average price of homes sold was $277k. Does that mean prices are dropping? No, by comparing Jan ‘15 to Jan last year, we sold six percent fewer homes this year (more foreclosures are now off the market), AND the average price of homes sold increased by $11k. Since the stronger months for home sales are in Mar-May--and if the January increase continues into the spring--then the average price may be as high as $295k ($284+11) in the coming months. Potential homebuyers must realize that 2014 home sales data included many foreclosures, which lowered average home sale prices.
There could not be a better time to buy your home in Sarasota, so call me at 941-914-4914 and let’s get started before prices AND interest rates go up!
Linda
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.
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