In a sign of a more active real-estate market, the number of for-sale properties in Sarasota hit its lowest point in six years in February.
With fewer than 5,900 properties currently on the market, the Sarasota Association of Realtors foresees the possibility that prices could rise soon.
“Traditionally and historically, fewer properties on the real estate market usually causes price appreciation,” said Michael Bruno, SAR president. “It’s simply a matter of supply and demand.”
In other positive news, the number of sales last month jumped 24% from January.
The 673 total sales in February were also up 27% from the same period last year.
Median sale prices continued to drop, however, as buyers continued to seek bargains in foreclosures and short sales, which represented 47% of all sales last month.
Month-to-month, the median price for single-family homes fell from $138,700 to $137,500. The median price for condos dropped from $142,500 also to $137,500.
Contact Robin Roy at email@example.com.
Currently 0 Responses
24 "Smart, Sassy, Strong & Classy!" Women's Gala & Speed Networking Event
10:00 am - 2:00 pm
24 Sunsets at Selby
5:30 pm - 9:00 pm
25 Mindful Practice
25 Ed U Tainment
9:30 am - 4:00 pm
Can you dig it?
Third- and fourth-grade students of Temple Beth Sholom had a chance to brush up on their paleontology skills last week while digging for faux dinosaur bones.
Sound of scholars
Local students Caleb Upton and Matthew Vaadi received some help for their upcoming studies to the tune of $1,000 each from the Sarasota Chorus of the Keys. The scholarships were made possible through the Sheridan E. Brown Memorial Scholarship Fund. Both students plan to use the funds toward a career in music.
High Five Moments of the Week
The top five sports moments of the week.