Sarasota Home Sales In June Reach a New High
© Sarasota Association of Realtors
Posted August 4, 2009
The Sarasota Association of Realtors issued the following news on home sales for the month of June, 2009.
Home sales in the Sarasota real estate market rose above the 600 level for only the second time in 26 months in June 2009, while the median sale price rose for both single family and condos, once again demonstrating a market in the initial stages of recovery.
The overall sales level of 610 included 449 homes and 161 condominiums which exceeded sales last month of 506 home and condo sales,
The median sale price for single family homes in June was $190,000 up 22.6% from May, 2009. The median sale price for condos was $250,000 up 38% from the level in May.
Inventory levels of homes for sale also dropped markedly to under 10 months of supply for single family homes and 16 months supply for condos both again down from previous months.
While Sarasota real estate prices have begun to climb, they are still lower than a year ago primarily due to high numbers of short sales and foreclosures.
"Our (Sarasota real estate) market was one of the national 'hot spots' for the real estate boom in 2003-2004, so naturally we experienced a rough couple of years as the
market moved toward more normal, realistic pricing." said Bill Geller, Sarasota Association of Realtors president. "But now, the community's incredible amenities and these attractive real
estate prices are taking center stage and we're seeing a recovery take root."
Sarasota real estate prices have started to recover. And, we all know what that means -- "they're going nowhere but higher, and soon!". Don't miss this opportunity.
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