Sarasota County prices rise 30% in August
Posted 09-12-2013 at 06:39 PM by StepHome941
Note that the following statistical report is for Single Family Homes only and excludes condos and mobile homes. For Sarasota data, this includes all zip codes and addresses in Sarasota, not just the small Sarasota City limits. Same is true for Venice, which has small city limits which do not include areas such as South Venice, Venice Gardens, or the newer areas of the city closer to I-75.
SARASOTA COUNTY PRICES RISE 30% YEAR OVER YEAR AND INVENTORY REMAINS TIGHT AT JUST 3.72 MONTHS:
For the County, which includes Sarasota, Venice, North Port, Osprey, Nokomis, and the Sarasota County portion of Englewood (part of Englewood is in Charlotte County), as well as unincorporated parts of the County, 645 homes sold in August at a median price of $195,000, versus the 594 homes sold in August of 2012, at a median price of $150,000, a 30% price increase. There are 2,266 active listings. Based on sales over the prior 12 months, this is an inventory of just 3.72 months. Experts consider a healthy and balanced market at 6 months of available inventory - higher than 6 months indicates a buyer's market while under 6 months indicates a seller's market. Of the 2,266 homes for sale, 246 are REO (bank owned) and 146 are "short sales", combined these distressed properties represent just 17% of total available inventory.
In Sarasota, 295 homes changed hands at a median price of $235,000, a 33% price increase over the median price in August 2012 of $177,000, when 288 homes were sold. There are 1,015 active listings, or 3.63 months of available inventory.
Venice led the way in August with a price jump of over 41%, from 107 sold at a median price of $155,000 in August 2012, to 133 sold at a median price of $219,334 this August. Venice also has the lowest months of inventory in the County, at just 2.97.
In North Port, 123 homes sold with a median price of $128,100, compared to 131 homes with a median of $98,000 last year, a price increase greater than 30%. The 438 homes for sale in North Port represent 3.34 months of available inventory.
Prices in Englewood rose over 40% however this is a relatively small market with only 32 sales in August. Englewood inventory sits at 6.11 months but the inventory and statistical analysis of Englewood is skewed by the fact that of the 165 active listings, 40 are listed for more than $1 million dollars.
SARASOTA COUNTY PRICES RISE 30% YEAR OVER YEAR AND INVENTORY REMAINS TIGHT AT JUST 3.72 MONTHS:
For the County, which includes Sarasota, Venice, North Port, Osprey, Nokomis, and the Sarasota County portion of Englewood (part of Englewood is in Charlotte County), as well as unincorporated parts of the County, 645 homes sold in August at a median price of $195,000, versus the 594 homes sold in August of 2012, at a median price of $150,000, a 30% price increase. There are 2,266 active listings. Based on sales over the prior 12 months, this is an inventory of just 3.72 months. Experts consider a healthy and balanced market at 6 months of available inventory - higher than 6 months indicates a buyer's market while under 6 months indicates a seller's market. Of the 2,266 homes for sale, 246 are REO (bank owned) and 146 are "short sales", combined these distressed properties represent just 17% of total available inventory.
In Sarasota, 295 homes changed hands at a median price of $235,000, a 33% price increase over the median price in August 2012 of $177,000, when 288 homes were sold. There are 1,015 active listings, or 3.63 months of available inventory.
Venice led the way in August with a price jump of over 41%, from 107 sold at a median price of $155,000 in August 2012, to 133 sold at a median price of $219,334 this August. Venice also has the lowest months of inventory in the County, at just 2.97.
In North Port, 123 homes sold with a median price of $128,100, compared to 131 homes with a median of $98,000 last year, a price increase greater than 30%. The 438 homes for sale in North Port represent 3.34 months of available inventory.
Prices in Englewood rose over 40% however this is a relatively small market with only 32 sales in August. Englewood inventory sits at 6.11 months but the inventory and statistical analysis of Englewood is skewed by the fact that of the 165 active listings, 40 are listed for more than $1 million dollars.
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