Sarasota Real Estate Information

The following report is from the Realtor Association of Sarasota and Manatee as published on February 25, 2015 for closed January business.

2015 Begins with Property Sales Moderating

Property sales, pending sales, and inventory levels in January 2015 looked a lot like January 2014 in Sarasota and Manatee counties.  In both years, sales dropped from the previous month (December), while pending sales skyrocketed and inventories of available properties grew substantially.

The message from the numbers was clear – holiday time home shoppers weren’t anxious to sign on the dotted line, instead putting off closings to later in the winter or spring.  And homeowners were eager to test the market and determine how much their property might have recovered in value.

SALES
January 2015 witnessed closed sales in Sarasota County totaling 743, with 514 single family homes and 229 condos changing hands.  In Manatee County, sales were 559, with 407 single family homes and 152 condos sold.

PENDING SALES
One major indicator of future sales is the pending sales figure, and both counties saw strong pending numbers.  Sarasota County jumped up to 995 from December’s figure of 691, while Manatee County stood at 677 from December’s total of 503. 

“In real estate, there are trends, peaks and valleys, and over the years we’ve seen a dip in closed sales in January,” said Association President Stafford Starcher.  “In Recent years, we’ve also seen a resurgence in sales in February and through the spring and early summer.  Judging from the pending sales levels in both counties, I wouldn’t be surprised if 2015 continues in this same pattern.”

INVENTORY AVAILABLE
Inventory of available properties rose significantly for both Sarasota and Manatee counties in January, hitting six month highs.  There were 4,385 properties on the market in Sarasota County in January and 3,106 properties for sale in Manatee County.  Those levels were last seen in June 2014.

“ Homeowners have obviously seen the amazing sales year we experienced in 2014, and now that our winter residents and visitors are here at historic levels, people who have been sitting on the fence are testing the market,” said Starcher.  “With continuing historic low mortgage interest rates, and all the other positive economic factors we’ve seen through the past two years it’s a great time to buy a home.


The Median sale prices for single family homes in Sarasota County was $190,000 in January 2015, about 3 percent lower than December’s figure of $195,000.  Manatee County saw the single family median price shoot up to $250,000, or 6.4 percent above the December figure of $235,000 and the highest since the $245,000 figure reached in June 2014.  Condo prices were at $185,000 in Sarasota County, up from December’s $177,500.  In Manatee County, condos were selling at a median price of $159,950, down from December’s $168,000, which was the highest level of 2014.

“The market, and our Realtors, took a much needed breath in the last month or so after a lengthy period of very active sales,” said Starcher.  “But in speaking with many members, open houses have been very popular, the number of property tours after the weekly MLS marketing sessions have been at near record levels, and 2015 is shaping up to be another incredible year.”

SINGLE FAMILY YEAR TO YEAR COMPARISON

 

CONDO YEAR TO YEAR COMPARISON

 

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