Message From Bev
Last week we hosted a lunch for 75 Realtors at our new 4,000 sq. ft. British West Indies-style model home in the Lake Club at Lakewood Ranch. It was a great event, despite the rain, and we received a lot of rave reviews from our guests.
The most common response was how delighted Realtors are to be seeing something “new” and “different”, a product that their out-of-town buyers really want. I think I speak for most homebuyers and real estate professionals when I say that we are all tired of the “Spanish Mediterranean” look.
It has been the stock new construction design in Sarasota for way too many years, and finally – finally! - we are beginning to see the market accepting and indeed pushing for cleaner lines, thoughtful, bolder modernist architecture, and more coastal contemporary designs, which blend in so well with our beautiful environment.
Real Estate Market Update
The good news continues. Sarasota County experienced its 5th consecutive month of near-record breaking sales, a total of 1,174 sales in the July 2015. Sales of single family homes jumped an impressive 35 percent from July last year. There were 10 percent more new listings and the average sales price for single-family homes increased by 13 percent. Listings are selling 40% quicker than the same month last year and the average time on the market is down to just 49 days.
Inventory continues to be low, typically 3.5 months’ worth on the market, which continues to put upward pressure on list prices and underlines the strength of this seller’s market.
Gone are the days when people waited until after the hot season to put their homes on the market. My advice? List now! If it’s priced reasonably, it will sell.
Single Family Homes
| July 2015 | July 2014 | % Change | |
|---|---|---|---|
| Closed Sales | 868 | 643 | 35.0% |
| Cash Sales | 343 | 283 | 21.2% |
| Pending Sales | 607 | 593 | 2.4% |
| New Listings | 898 | 813 | 10.5% |
| Median Sale Price | $219,500 | $201,000 | 9.2% |
| Median Days On Market | 45 | 88 | -48.9% |
| Active Listings | 2,327 | 2,765 | -15.8% |
| Month Supply of Inventory | 3.3 | 4.4 | -24.7% |
Condos and Town Homes
| July 2015 | July 2015 | % Change | |
|---|---|---|---|
| Closed Sales | 338 | 285 | 18.6% |
| Cash Sales | 203 | 184 | 10.3% |
| Pending Sales | 255 | 241 | 5.8% |
| New Listings | 277 | 283 | -2.1% |
| Median Sale Price | $190,000 | $205,000 | -7.3% |
| Median Days On Market | 52 | 86 | -39.5% |
| Active Listings | 1,046 | 1,147 | -8.8% |
| Month Supply of Inventory | 3.4 | 3.8 | -11.3% |
Upcoming Events
Mote Marine Aquarium
In honor of its 60th anniversary, Florida residents of all ages can receive admission into the aquarium for $6. This special offer is valid for up to 4 people in a party. Proof of Florida residency is required for one person from each party.
When: Every Saturday in the month of September (5, 12, 19, and 26)
Where: Mote Aquarium, 1600 Ken Thompson Parkway, Sarasota
New Balance 5 K Fun Run
Run, walk or jog. Fun for the whole family! more information
When: Saturday, September 5 at 7:00 am
Where: 1872 Stickney Point Road
69th Annual Labor Day Regatta
Sarasota’s oldest annual sporting event that attracts generations of competitors and all skill levels from world champions to aspiring youth. more information
When: Saturday, September 5 at 7:00 am
Where: 1872 Stickney Point Road
Labor day Jazz Concert
Enjoy the music of the Sarasota Jazz Project, a 17-piece jazz band that performs locally
When: September 7 during downtown farmers market
Where: South end of Lemon Ave by Pineapple Park
Mystery of the Mayan Medallion
Hands on family friendly exhibition. Students archaeologists explore the world of the ancient Maya. more information
When: June 25 – September 13
Where: South Florida Museum, 201 10th St. W. Bradenton
