Sarasota Housing Market Recap

The latest Sarasota housing market recap showed 639 properties sold for just over $453 Million during September for the North Port, Sarasota, and Bradenton areas.

Everyone is asking about the impact of Hurricane Ian on the Southwest Florida housing market. According to the founder of Florida Economic Advisors and faculty members of the University of South Florida, an already tight supply of affordable housing will likely grow tighter, and buyer demand may grow for nearby beach areas relatively unharmed after the storm such as Bradenton and Sarasota.

Like the rest of Southwest Florida, inventory rose significantly compared to the same time last year. However, it is important to note inventory was extremely low last year. Like the previous month, even though supply has increased, the greater Sarasota area ended the month with less than a 2 months’ supply of properties for sale. When September 2022 housing inventory is compared to August to of 2019 before the pandemic, it is down 43 percent. Since a healthy market would be at least 6 months’ worth of homes for sale, Sellers are still in the driver’s seat.

Whether you are buying or selling a home, it is important to keep track of local market trends. What is happening in resort destinations such as Sarasota is quite different than the suburbs of a major metropolitan area. If you have questions about a specific area or neighborhood, contact us for more information.

Sarasota Housing Market Recap – Single Family Homes

September 2022 versus September 2021 Single Family Home Highlights:

Closed sales decreased 45.1 percent going from 835 transactions down to 458 sales.
Pending sales decreased 42 percent down from 779 last September versus 452 this September.
Inventory rose 106.4 percent up to 1,591 properties for sale compared to this same time last year when just 771 homes were for sale.
New listings decreased from 900 down to 608 which was a 32.4 percent decrease.
Median days on market increased to 20 days which was up from 7 days during last September.
Available inventory of single-family homes ended September with a 2.1 months’ supply of homes available for sale which was up 162.5 percent increase over this time last year.

While it is good news for buyers that inventory has increased over this time last year, it did n0t change much from August when there were 1,577 single family homes for sale compared to September when there were 1,591 active listings. And when you compare it to 2019, we had 2,373 homes for sale. With the low supply and high demand, sellers continue to have the advantage in the Sarasota housing market.

The time it takes for properties to go to contract increase slightly over August going from 14 days to 20 days which is still fast compared to a normal market. It remains a Seller’s market with just a 2.1 month’s supply of homes for sale. If you are thinking about selling your property in the Sarasota area, call, email or text us today – 239.370.0892 for a complimentary market analysis.

On the flip side, if you have been sitting on the sidelines waiting to buy a property, now may be a good time to start watching for properties which meet your criteria. New listings are hitting the market every day, we can help you with automatic property alerts. Or, if you’re not sure which community is right for you, contact us and we’ll help you identify the communities which will match the lifestyle you are seeking.

Sarasota Housing Market Recap – Condos and Townhomes

September 2022 versus September 2021 Condo Highlights:

Condo sales decreased 29 percent going from 331 real estate transactions down to 235 sales.
Pending sales decreased 33 percent down from 315 last September to 211 this September.
Inventory increased 85.4 percent up to 586 condos for sale compared to last September when there were only 316 units for sale.
New listings decreased from 364 down to 244 which was a 33 percent decrease.
Median days to contract was 18 days which was up from 7 days last year.
Available inventory of condos ended August with a 1.6 months’ supply of properties available for sale which was a 166.7 percent increase.

Between closed sales and pending sales, inventory remains extremely low. Similar to last month, the number of new listings declined putting further pressure on an already limited supply of condos for sale and it didn’t change much from the prior month when there were 588 properties for sale. As a result, the median sales price continued its upward trend, ending the month with a 23.1 percent increase year-over-year.

Bottom line, it remains a seller’s market for both condos and single-family homes. So now would be a great time to cash in on the high buyer demand. You might be surprised to learn how much your home is worth in today’s market. What is my home worth…

Whether you are buying or selling we have real estate specialists who cover the Gulf Coast from Sarasota to Naples, so if you are considering moving to the area, contact us for more information.

Sarasota Real Estate Market Reports

Naples Golf Guy Monthly Market Report – NEW!

September 2022 Sarasota County Real Estate Statistics – Single Family Homes

September 2022 Sarasota County Real Estate Statistics – Condos

Begin Your Own Search for a Southwest Florida Vacation Home or Second Home:

If you are ready to begin your search for your dream home or condominium in Southwest Florida, we encourage you to explore our website to find information about communities in the area. If golf is your game, we specialize in golf community real estate.

There are more than 150 different golf communities in our area and most of them have a private golf course within the community. It can be challenging to navigate the plethora of communities, membership options, golf course design, amenities and more. We will help provide you with a list of the top private golf communities which match your lifestyle.

Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost for you to have an agent represent you. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.

Lastly, we will manage all contract negotiations via paperless transactions for your property from offer to close!

Should I use a Realtor if I’m buying New Construction?

Time to Sell Your Home?

It is a seller’s market so why should you work with a realtor? Do you have the time? There are over 180 actions required to successfully complete a real estate transaction. From scheduling showings, contract negotiations, organizing inspectors, attorneys, title companies and a mountain of paperwork.

With almost 20 years of experience helping sellers with their golf community real estate needs, we would like to share our strategy for how we are helping maximize the number of offers homeowners are receiving and ultimately higher sales prices.

As an experienced real estate team, we have made a career out of helping people sell homes in premier golf communities. As you may well know, opportunities such as today’s market for sellers only comes every so often.

Call, email or text us today for all of your real estate needs – 239.370.0892.

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Results You Can Count On

The Naples Golf Guy Team is committed to extraordinary customer service with an emphasis on detail. Professionalism, integrity, and discretion are not goals, they are standards. We collaborate with our sellers to design and implement a customized marketing campaign to present your property to the world. If you are a buyer, we are committed to helping you find the community which will allow you to live the ultimate Florida lifestyle in Paradise.