Sarasota Real Estate Trends

The latest Sarasota real estate trends showed 967 properties sold for just over $601.6 Million during July 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 less than a 2 months’ supply of properties for sale. A healthy market would be at least 6 months.

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

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 Trends – Single Family Homes

July 2022 versus July 2021 Single Family Home Highlights:

Closed sales decreased 23.1 percent going from 882 transactions down to 678 sales.
Pending sales decreased 14.3 percent down from 748 last July versus 641 this July.
Inventory rose 112.3 percent up to 1,550 properties for sale compared to this same time last year when just 730 homes were for sale.
New listings increased from 941 up to 959 which was a 1.9 percent increase.
Median days on market increased to 10 days which was up from 5 days during last July.
Available inventory of single-family homes ended July with 2 months’ supply of homes available for sale which was up 150 percent increase over this time last year.

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. There is still time to maximize the value of your home in this market. So, if you are considering 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 Trends – Condos and Townhomes

July 2022 versus July 2021 Condo Highlights:

Condo sales decreased 24.5 percent going from 383 real estate transactions down to 289 sales.
Pending sales decreased 19.5 percent down from 723 last July to 582 this July.
Inventory increased 121.2 percent up to 626 condos for sale compared to last July when there were only 283 units for sale.
New listings increased from 333 up to 377 which was a 13.2 percent increase.
Median days to contract was 10 days which was up from 6 days last year.
Available inventory of condos ended July with 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 despite the new listings added. As a result, the median sales price continued its upward trend, ending the month with a 24.1 percent increase year-over-year. Yet, the median prices were lower than June when it was a 34.4 percent increase year-over year. Like single-family homes, as long as inventory remains low, prices will continue to rise.

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 Newsletter – NEW!

July 2022 Sarasota County Single Family Home Sales

July 2022 Sarasota County Condo Sales

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.