Sarasota Real Estate Review

The latest Sarasota real estate review showed 974 properties sold for just over $604 Million during August for the North Port, Sarasota, and Bradenton areas. Like the rest of Southwest Florida, inventory more than doubled 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 just a 2 months’ supply of properties for sale. When August 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.

Additionally, the median sales price continued its upward trend compared to last year. Although both single family homes and condos saw double-digit increases in the median sales price compared, the median price was lower than this June and July of this year. The trend in median sales prices combined with increased inventory are indications we have started the journey towards a balanced market. The question is, how long will it take?

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 Real Estate Review – Single Family Homes

August 2022 versus August 2021 Single Family Home Highlights:

Closed sales decreased 16.8 percent going from 815 transactions down to 678 sales.
Pending sales decreased 15.1 percent down from 794 last August versus 674 this August.
Inventory rose 107.2 percent up to 1,577 properties for sale compared to this same time last year when just 761 homes were for sale.
New listings decreased from 919 down to 847 which was a 7.8 percent decrease.
Median days on market increased to 14 days which was up from 6 days during last August.
Available inventory of single-family homes ended August with 2 months’ supply of homes available for sale which was up 150 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 July when there were 1,550 single family homes for sale compared to August when there were 1,577 active listings. And when you compare it to 2019, we had 2,365 homes for sale. With the low supply and high demand, sellers continue to have the advantage in the Sarasota housing market.

Yet, this market will not last forever and it has clearly changed over the past couple of months as evidenced by the increase in inventory and days on market. If you are considering selling a home in the Sarasota area, there’s still time to maximize the value of your home in today’s market.

Thinking of selling? 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.

Sarasota Real Estate Review – Condos and Townhomes

August 2022 versus August 2021 Condo Highlights:

Condo sales decreased 13.2 percent going from 341 real estate transactions down to 296 sales.
Pending sales decreased 6.9 percent down from 332 last August to 309 this August.
Inventory increased 100.7 percent up to 588 condos for sale compared to last August when there were only 293 units for sale.
New listings decreased from 352 down to 333 which was a 5.4 percent decrease.
Median days to contract was 14 days which was up from 6 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. Unlike the previous month, the number of new listings declined putting further pressure on an already limited supply of condos for sale. As a result, the median sales price continued its upward trend, ending the month with a 19 percent increase year-over-year. Yet, the median prices were lower than both June and July.

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!

August 2022 Sarasota County Real Estate Statistics for Single Family Homes

August 2022 Sarasota County Real Estate Statistics for 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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Home Selling Tips…

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.