Sarasota Homes and Condos Experiencing Large Demand

Studies show a notable increase in sales for Sarasota dwellings with more investors and homebuyers coming into the market. Realtors in the Sarasota and Manatee counties have yielded impressive results, managing to sell approximately 1,072 condos and homes just last month. These figures denote a whopping 15.5 percent increase from September, and an even more noteworthy improvement of thirty percent over last years October.


“It appears from all signs that the Sarasota real estate market is in full recovery mode,” says Laura Benson, current president at the Sarasota Association of Realtors.

Real estate agents participating in this market say that fall has been a busy time of year for them, as the decrease in inventories has triggered homebuyer interest yet again.

The renewed interest in dwellings has also led to stiffer competition amongst homebuyers and investors looking to capitalize on the county’s growing industry, or acquire a personal residence to live in.

“Any time inventory falls below six months, there is a sense of urgency among some buyers,” says Roger Piro of Town and Country Real Estate.

Pending sales, which are basically properties that have gone under contracts that are yet to be closed, went up from 844 in September to 954 just last month. On the other hand, Manatee pending sales went from 361 in September to 393 in October.

Sarasota realtors also note an increase in prices of single-family dwellings, as the median sales price went from $169,950 in September to $176,000 last month, denoting a 3.5 percent increase. These figures are even more impressive when compared to the $149,838 median price of October 2011.

Although condo prices have dropped from $175,400 to $160,000 during the previous month, the latter still reflects a twelve percent increase from the $143,000 median price of last year.

“We are now well past the low point of the market downturn, and while the future is never certain, the coming season appears to be headed in the right direction,” says Benson.

Open houses in the county are now enjoy more homebuyer and investor traffic, thanks a continuous decrease in supply. This trend has also played largely in favor of the sellers, who are now receiving multiple offerings for their properties.

“Once again, everything that should be going up in the market is going up, and everything that should be going down is going down,” says John Tuccillo, Florida Realtors chief economist.

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