The Sarasota Association of Realtors® announced another installment in the selling streak that promises to make 2013 a record year in local real estate history. So far this year, Sarasota & Her Islands are seeing a strong recovery after languishing in the doldrums of the Great Recession. Members of the Association closed 911 sales during July 2013, which amounted a 30.3 percent increase as compared to July 2012. The July results were 3.2 percent better than for June 2013. Also, the median price for single family homes rose 7.2 percent from June 2013 to July 2013. Single family home prices have risen 16 percent over the past 12 months.
Inventory continues at very low levels with only 3.1 months of single family homes (SFH) and 4.6 months of condos — close to the decade low seen in May 2013 of 3.0 months for SFHand 3.9 for condos. Months of inventory tracks the time to deplete the inventory at the current sales rate.
Click here to for a complete overview of real estate market statistics for Sarasota County. These charts are updated often and often allow access to sales results before the Association releases the data to the news media.
For a detailed report on the July 2013 Sarasota County Real Estate Market Satistics, please click here.
For more information about Sarasota & Her Islands, please contact Louis Wery.