The Realtor® Association of Sarasota and Manatee just released February’s closed and pending sales and it appears that Sarasota and Manatee county real estate is already outpacing the record number of sales for this same time period in 2014.
In short, Sarasota’s 837 total closed residential sales are up 12.3% from 2014 and Manatee’s 593 total closed residential sales are up 6.1%, and pending sales for both counties are ahead of last year’s figures and show no sign of a slow down in sales.
Additionally, the median sales price remains strong and substantially above last year’s figures. In Sarasota County, the median price for single family homes was at $196,000, which is 6% higher than last February; and for condos, the median price was at $187,500, up 10.3% from last year. Manatee County single family homes rose to a median sale price of $256,750, up 16.7% over last February’s figure of $220,000, while condos were at $152,000, which is a 12.6% increase.
Association President Stafford Starcher states, “Properties in the two counties are selling at a high pace and prices are on the rise, which tells us we are experiencing a healthy, vibrant market. The inventory totals have leveled off, which means we could see even higher prices going forward, based on the laws of supply and demand.” He further adds, that this is a great time to put your property on the market with a Realtor® and “test the water.”
If you are interested in buying or selling property, please contact me for further details.