Sarasota Market Report Update for the Month of March

The following report is taken from the Sarasota Association of Realtors, in Sarasota, Florida.  Just released information to the public today April 14, 2010.   This is a good news report.  I just met with a buyer who is moving from Tampa, he told me that he wants to move to Sarasota because you can get much more house for your money than you can in Tampa. 


“Sales skyrocket in March 2010; real estate market appears strong”
“Overall property sales reached 753 in the Sarasota market in March 2010, the highest total since December 2005 and more than 56 percent higher than March 2009. Pending sales were also robust, standing at 1,060 - the highest total in the past four years. But perhaps the most telling statistic was that the median sale price for both single family homes and condos rose in March from the previous month, and prices were much higher than in March 2009.

Members of the Sarasota Association of Realtors® sold 555 single family homes and 198 condos in March 2010, a huge jump over March 2009, which saw only 353 single family homes and 128 condos sold. Pending sales, at 1,060, were about 30 percent higher than last March, when only 817 were reported. This statistic is a strong indicator for the next two or three months of sales, as pending sales reflect current buyer activity. This also reflects the continuing push of SAR members in the early spring months to qualify clients for home buyer tax credits, which expire on April 30th.

Median sale prices in the Sarasota real estate market were also up in March 2010 for both single family homes and condos. The median sale price for a single family home was $170,000, up 13.3 percent from February’s $150,000, and up 11 percent over last March’s figure of $152,125. For condos, the median price rose to $210,000 from last month’s level of $169,000, a 24 percent increase. Last year at this time, the condo median sale price was $166,750. For the last 12 months combined, the median sale price for single family homes was $162,950, while the median sale price for condos was $190,000.

The level of distressed property sales dropped in March 2010 to 41 percent of the overall market, compared to 47 percent of the overall market in February 2010. This was another encouraging sign as the spring continued to heat up the local housing market. The downward trend in the percentage of short sales and bank-owned foreclosure sales in the Sarasota market, if it continues, would be a harbinger of a market in full recovery, and should bring greater appreciation for the overall median sale prices.”


To view this complete article with graphs click onto Sarasota Association of Realtors.

If you would like to learn more about what is happening in the Sarasota market place
go to Sarasota Real Estate 
This will take you to all the available real estate for sale in and around the Sarasota Area.  Or you can call me, Sara at (941) 586-4790. 

To read more blogs about Sarasota click onto Sara’s Real Estate Blog and see all the topics about Sarasota, Florida.

Posted by Sara Leicht - SaraSellsSarasota.com on
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