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 firstname.lastname@example.org.
Currently 0 Responses
25 Free picture framing seminar
25 Stepping Out Against Domestic Violence (DV Awareness Walk)
25 3rd Annual Sarasota Book Fair
10:00 am - 3:00 pm
25 Kids to make free Plus Plus
10:00 am - 4:00 pm
On Saturday Phillippi Shores Elementary fourth-grader Mickeyshane McGetrick invited friends and classmates to help kick off his class project to clean up Turtle Beach.
Only 9 days left to vote for your favorite 'It's Read Everywhere' photo!
Voting is now live for the Observer's 'It’s Read Everywhere' photo contest.
School of rock
Fans cheered on their favorite bands Saturday at Rock for a Cause.