If you have any questions about the Lido…
Found 4 blog entries for August 2013.
We receive questions every day from buyers around the globe concerning the market for real estate in Sarasota. Each week, our Broker Keith M. Redding will answer a few questions our clients have.
“I read that the number of Sarasota home sales are down from June to July. Does this mean we should wait to purchase because prices will be decreasing with less sales?"
Only you know when the time is right to make a real estate purchase. The facts of the market are that sales did decrease in Sarasota County from June to July. What you may not have seen was that the decrease was only by 1%. Many contribute this slight decrease to a lack of available inventory over fewer buyers looking to purchase. Much like with any product, a limited supply accompanied with a…
The real estate market in Sarasota has been on an amazing streak lately, and that positive trend has continued in July. Sarasota Realtors were a part of 911 sales during the month of July, which is over 30% better than the numbers we were seeing at this point last year. In fact, this was actually a 3.2% increase over the numbers we saw last month. 2013 is looking to be one of the best years for Sarasota real estate in the entire history of the Sarasota Association of Realtors.
In addition to having more real estate sales in Sarasota, July also saw an increase in the median sale price of Sarasota single family homes. There was an increase of over $25,000 in the average sale price this past month, as the average sale price in July was $227,500. This turns
Sarasota real estate inventory still at low levels
After hitting an eight year low in May of 2013, it seems that the inventory of Sarasota homes for sale in the marketplace has dropped even lower as of the beginning of August. For comparison, this year saw an eighteen percent decrease in the number of available homes as compared to last June. While a smaller inventory of homes can be seen as a good sign for sellers, as there is increased competition for the few homes left, it creates a more difficult task for those currently seeking a home. The law of supply and demand in relation to rising prices can be seen in its simplest form in our current market.
In particular, Sarasota single family homes have seen a dramatic rise in the number sold as compared