The Realtor® Association of Sarasota and Manatee has released the sales numbers for May, and what has been said for months now still rings true: 2015 is on track to be another record-breaking year!
Total reported residential sales in May for Sarasota county stood at 1,182; which is only 42 sales less than the all-time monthly record and Manatee county’s sales for May are at 827, which is a 10% increase over last year.
Along with sales trending at historically high levels for both counties, the median sales price has steadily been on the rise. May 2015′s median sales price for Sarasota county is up 20% from last year and up 14.3% for Manatee county.
As sales and median prices continue to increase, so too has the demand, causing a decrease in inventory and in the length of time homes are remaining on the market. Based upon this market statistic, sellers remain in command.
This continued upward trend in real estate sales may have some worrying about another “housing bubble;” however, the Chief Economist for Realtor.com, Jonathan Smoke recently reported that the housing market is on track to have its best year since 2006, but unlike 2006, there is no evidence of a “bubble.” Smoke states that it is job growth that is fueling this housing surge; citing that more than 3 million jobs have been created in the past 12 months; with more than 1 million of those jobs having been created for 25- to 34-year-olds, the age range at which most Americans buy their first home.
Association president, Stafford Starcher says, ““Once again, the market statistics are clearly showing the strength and vitality of Sarasota and Manatee counties. We are living in a golden era for local real estate, and the future continues to look bright.”
If you are interested in buying or selling property, please contact me for further details.