Sarasota Real Estate Market sales for September 2011 outpace last year

The Sarasota Association of Realtors just reported that September 2011 property sales in the Sarasota real estate market were ahead of last September. A total number of 570 units sold this year compared to only 547 at the same time last year. A small drop in transactions compared to August 2011, when 601 sales were recorded. But this is very normal as the early fall is one of the slower sales seasons in Sarasota.

The inventory of “properties for sale” in Sarasota has been dropping for the past nine months, and was 4,430 units at the end of the month.

The median price in September was $165,000 for single family homes, the same as August, and $140,000 for condos. The condo figure has been fluctuating for several months, hitting $185,000 in June, then dropping to $145,000 in July before climbing back up to $165,000 in August. These variations can be explained by the fact that certain months have seen the buying public focusing on smaller, bargain priced units, while other months have seen a higher concentration of luxury condo sales.

“The September market is normally a slower time of the year, so there were no real surprises this year,” said Michael Bruno, Chairman of the Sarasota Association of Realtors.  “The word of mouth among agents and brokers has been very positive, and I’m expecting a good season surge as we welcome back our winter residents and visitors. When it cools off up north, the market usually heats up in Sarasota.”

by Per Nordstrom, Team Nordstrom, Signature Sotheby’s International Realty

 

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Per & Helena Nordstrom
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