The Sarasota Real Estate Market had 40.2% more existing single-family home and 62.6% more condominium sales in March than were recorded in March 2020. And inventory at the end of March was almost 75% lower than last year.
With inventory of existing homes and condominiums for sale hitting record lows, sales in The Sarasota Real Estate Market far exceeded last year’s activity.
Sarasota Real Estate Market conditions seen during the last half of 2020 continue into 2021 and are being driven by dramatic demand from buyers fleeing their home states, continued low mortgage rates, and an acute inventory shortage of existing homes.
Preliminary data on January 2021 Sarasota market sales are as impressive as the last half of 2020, including pending sales expected to be up more than 50% compared to last year, and with inventory still extremely tight. I am optimistic that the months ahead can be expected to see more record-setting activity.
The Sarasota Real Estate Market had considerable growth in sales, further contraction of inventory and strong pace of pending sales, portending a continuation of a remarkable market into 2021.
The Sarasota Real Estate Market experienced yet another remarkable month of growth in number of sales transactions, total dollar volume, percentage of all cash sales, and number of properties that went under contract.
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Michael Saunders & Company
440 Gulf of Mexico Drive
Longboat Key, Florida 34228