The Moulton Sarasota Real Estate Report December 2019 – Year Ends as Seller’s Market

Sarasota Real Estate

The Moulton Sarasota Real Estate Report December 2019

Year Ends as Seller’s Market

Activity in the Sarasota Real Estate Market ended 2019 on a high note with sales transactions exceeding last December by nearly 52% and total dollar volume increasing almost 63% over prior year.

The completion of The Mark, the first of many new luxury condominium developments underway in Sarasota, made a significant impact on sales last month. Of the increase of 60 condominium units sold in December compared to prior year, 48 of those transactions were in The Mark. It is always interesting to see the effect of just one project on the marketplace.

Inventory remained a challenge as we closed out the year. Total inventory was nearly 20% below last year. Earlier this year the Sarasota Real Estate Market was trending toward a balanced level in which neither buyers or sellers positions as favored, however available homes and condos has eroded leaving just 3.7 months of single-family properties and 3.9 months of condominiums available at year end – both a considerable gap from the theoretical balanced 6-month level.

The most recent survey of national home builders revealed that their confidence is at a 20-year high – the highest since June of 1999. And a survey of home remodelers reflected a similar sentiment, reaching its highest in 6 years. They noted a strong increase in homeowner interest in major additions and alterations.

Interestingly, this ties closely to another unique market influencer – the length of time homeowners remained in their homes. Compared to 2009 when it was calculated that the average number of years a homeowner stayed in place was 5 years, today’s owners are averaging 13 years. Data has shown that the average homeowner equity has increased 34% over their original purchase price, so it is not a surprise that when you add a shortage of available homes to the mix, fewer people are moving.

New home building nationally is the strongest in more than 10 years, but it is not nearly adequate to keep up with population growth and demand from first-time home buyers. In the decade of the 2010’s, new home building was 50% less than the volume in the decade before, creating a considerable shortage to meet the market needs.

Economists and analysts are expecting 30-year fixed rate mortgages to average a very attractive 3.8% interest rate over the next two years. Along with record-low unemployment, strong equity growth and economic confidence, and a significant increase in household formation, the Sarasota Real Estate Market appears poised for another positive stretch ahead.

And now for my statistical report on the December Sarasota Real Estate Market activity:

Sales

  • Total market dollar volume the past month was $469.2 million which increased by $181 million or 37% from a year ago. Total sales for the year were $4.9 billion compared to $4.5 billion in 2018, an approximate 10% increase.
  • Broken down, single-family sales were $326.9 million and condominium sales were $142.3 million for the month.
    • The volume in single-family was up over 53% compared to prior year and condo volume was up more than 90%.
  • The number of properties sold this past month was 1,163, 396 more than a year ago. The sales total includes 853 houses and 310 condos. The past year monthly sold properties average was 1,074 while in 2018 it was 1,001. In all of 2019 total property sales were 12,888 vs. 12,012 in 2018, an 876 sales increase.
    • Florida’s single-family sales increased 23.8% from last year, and condo sales were 17.7% higher than last year. Homes sold for in excess of $1 million were 46.5 higher than December 2018 and condos closed at over $1 million rose 24.7%.
    • U.S. single-family sales were up 10.6% and condos up 12.7% in December.
  • Of the closed sales the past month, 61 were for over $1,000,000, 37 were houses and 24 were condominiums. This year we are averaging 46 sales per month for over $1 million. On a monthly average it is 32 houses and 14 condominiums.
  • Listings that went pending last month were 1,265, a 32% increase compared to December 2018. The monthly average for this past year was 1,121 and for 2018 the monthly average was 1,031, a nice monthly increase.
    • Florida’s single-family pending sales grew 11.9% and condos going under contract in December rose 8.3% compared to last year.
    • U.S. pending sales in July were up just 4.6% in comparison.

Prices

  • Single-family homes were sold at a median price of $283,000 in November. The 2019 monthly median price for houses sold was $288,325 vs $281,662 in 2018.
    • Florida’s median price for single-family homes in November was $270,000, a 5.9% increase over last year.
    • The national median price for existing homes 8.0% to $276,900.
  • The condominium median sold price was $271,945, a spike of more than 20% over prior year. This anomaly could be the result of the large number of luxury units sold in The Mark, mentioned earlier. For the year the monthly average was $236,797 vs. $230,989 in 2018.
    • Median price for a Florida condo last month was $200,000, an 8.1% increase over December 2018.
    • U.S. median condo price grew to $255,400, a 6% increase.
  • Sarasota houses sold on average for $383,228. Condominiums sold for an average price of $459,185 last month.

Inventory

  • Currently there are 4,086 properties for sale in Sarasota. This is a decrease of 89 listings from the month before. There are 4,086 active listings heading into 2020, where there were 5,401 at the end of 2018 and 4,401 listings to end 2017.
  • Of the available inventory for sale, 630 properties are listed for over $1 million or only 15%. Of the active listings over $1,000,000, 448 are houses and 182 are condominiums.
  • The Sarasota market had 1,378 new listings the past month. The market averaged 890 new listings per month the past year and 1,008 in 2018.
  • Current listing inventory results in 3.7 months of single-family homes for sale in Sarasota and 3.9 month’s supply of condominiums based on December closings.
    • Florida currently 4 months of single-family inventory and 5.2 month’s supply of condominiums. Inventory of properties selling for over $1 million have decreased slightly from last year.
    • U.S. inventory of all existing properties for sale is at just 3 months of supply, down from 3.7 last year.

In today’s ever-fluid real estate market, the value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated. Having served clients in The Sarasota Real Estate Market for more than 38 years and carefully analyzing our business conditions, I have developed essential insight to assist both buyers and sellers in achieving their objectives. It would be my privilege to work with you, your family and friends in realizing your goals in acquiring or selling your property.

Michael’s Featured Listing:

Longboat Key Real Estate

 View all Michael’s Listings HERE

 

subscribe-button

The Moulton Sarasota Real Estate Report – November 2019 – Sarasota Market Remains Active

 Sarasota Real Estate

The Moulton Sarasota Real Estate Report November 2019

Sarasota Market Remains Active

Activity in the Sarasota Real Estate Market maintained a positive direction in November, when analyzing data on growth over prior year. With total sales and dollar volume exceeding prior year by 6% and 10.5% respectively, transactions in the luxury tier up by more than 40%, and prices remaining stable, all signs are pointing to closing out the year with solid gains across the board.

The only area with declines was inventory, which earlier this year was making progress toward a more balanced market where neither buyers and sellers are in an advantageous position. Inventory of existing homes and condos has fallen nearly 18% year-over-year. This would normally push prices higher, however, last month median prices remained relatively stable compared to prior year. With just 3.9 months of single-family home inventory and 4.2 months of condos on the market, if we don’t see either a surge in listings of existing homes or a strong pace of finished new product, prices will move higher in the months ahead.

The most recent survey of national home builders revealed that their confidence is at a 10-year high – the highest since June of 1999. New home building nationally is the strongest in 12 years with November sales growing 16.9% and permits increasing 11% over prior year.

Economists and analysts have begun to release their year-end projections and thoughts on 2020. For the first time in the post-World War II era both mortgage rates and unemployment are under 4%. Economists are expecting relatively little upward movement in rates in 2020 – potentially increasing to 3.8%. Compare that to 12.7% in 1980, 8.12% in 1990, 6.29% in 2000 and you see how remarkable the current rate is. Because of this, and the expectation of more job growth, the real estate market is expected to remain active here and across most of the country.

The Sarasota Real Estate Market is consistently cited as healthy with strong demand. Based on my own busy pace of buyer traffic, exciting new developments underway in the region, stable economic conditions, and consumer and home builder confidence, I feel certain that our market is poised to continue its steady expansion.

And now for my report on November Sarasota Real Estate Market activity:

Sales

  • Total market dollar volume this past month was $364.6 million, which increased by $34.5 million.
  • Broken down, single-family sales were $275.1 million and condominium sales were $89.5 million for the month.
  • The number of properties sold this past month was 935, 51 more than a year ago. The sales total includes 707 houses, 135 ahead of last year and 228 condos, 84 below last year. The year to date the monthly average is 1,066 while in 2018 it was 1,001.
    • Florida’s single-family sales increased 6.1% from last year, and condo sales were 6.3% below last year.
    • U.S. single-family sales rose 3.5% and condos were down 3.4%.
  • Of the closed sales the past month, 44 were for over $1,000,000, 23 were houses (10% more than prior year), and 21 were condominiums (almost double last November.)
    • Florida’s homes sold for in excess of $1 million were 9.1% higher than November 2018 and condos closed at over $1 million fell 18.3%.
  • In 2018 Sarasota averaged 29 house sales and 17 condo sales per month over a $1 million, a small portion of our overall sales. This year we are averaging 31 house sales and 13 condo sales per month for over $1 million.
  • Listings that went pending last month were 1,055 an increase of 238 transactions from a year ago. For 2018 the monthly average for pending sales was 1,031.
    • Florida’s single-family pending sales increased 14.4% and condos rose 8.6% compared to last year.
    • U.S. pending sales in November were about 7% higher than last year.

Prices

  • Single-family homes were sold at a median price of $280,000. The 2018 monthly median price for houses sold was $281,662 and 2019 year to date it is $288,810.
    • In November, Florida median price for single-family homes was $265,000 a 3.9% increase over last year.
    • The national median price for existing homes grew 5.4% to $274,000.
  • The Sarasota condominium median sale price was $244,745. Year to date the monthly average is $233,602 and the 2018 monthly median average was $230,989.
    • Median price for a Florida condo last month was $195,000, a 5.4% increase over November 2018.
    • U.S. median condo price grew to $248,200, a 4.5% increase.
  • Sarasota houses sold on average for $389,121, where the 2018 monthly average was $384,110.
  • Condominiums sold for an average price of $392,575 last month and in 2018 the condominium monthly average was $355,047.

Inventory

  • Currently there are 4,175 properties for sale in Sarasota. This is an increase of 149 listings from the month before, however well below where we started 2019. There were 5,401 listings at the end of 2018 and 4,401 listings at the end of 2017.
  • Of the available inventory for sale, 629 properties are listed for over $1 million or only 15%. Of the active listings over $1,000,000, 449 are houses and 180 are condominiums.
  • The Sarasota market had 1,378 new listings in November. The market averaged 1,289 new listings in 2018. Of the new listings last month 131 properties were listed over $1,000,000.
  • Current inventory results in 3.9 months of single-family homes for sale in Sarasota and 4.2 month’s supply of condominiums.
    • Florida currently has 3.6 months of single-family inventory and 5.5 month’s supply of condominiums. Inventory of properties selling for over $1 million have fallen slightly from last year.
    • U.S. inventory of existing homes and condominiums for sale has dropped 5.7% year-over-year.

Having served clients in The Sarasota Real Estate Market for more than 35 years and carefully watching business conditions has provided me essential insight to aid both buyers and sellers in achieving their objectives in today’s environment.  The value of a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated in this market.  I look forward to working with you, your family and friends in realizing your goals in acquiring or selling your properties.

Wishing you a healthy, happy and prosperous New Year.

Moulton Sarasota Real Estate Report – October 2019 – Sustained Growth

Sarasota Real Estate

The Moulton Sarasota Real Estate Report October 2019

Sustained Steady Growth Patterns

The Sarasota Real Estate Market managed to outpace both national and state sales again last month. The number of transactions expanded well into double digits in both existing single-family homes and condominiums when compared to prior year, strong growth in the luxury market, and moderate price appreciation was driven by falling inventory.

Our most effective forward-looking trend indicator, pending contracts signed in the month, grew at a very healthy pace in both housing categories signifying the next few months should have similar closings patterns.

Home builder confidence as measured by the National Home Builders Association is close to an 18-month high. Though labor is still tight and material, land and regulatory costs are rising, there seems to be a steady pace of new construction in both multi-family and single-family homes.

Nationally new home sales increased over 30% in October compared to last year. Developers who market and sell their own product don’t normally record their transactions in MLS, so it is often hard to have an accurate record of transactions. But, according to the Census Bureau, it is estimated that year-to-date sales have grown approximately 10% over same period 2018. New homes are selling for an average of 20% more than existing homes and condos.

In The Sarasota Real Estate Market, there have been several large luxury condominium projects under construction. One, The Mark, has already started its closings and residents will be occupying this beautiful project in the heart of Sarasota soon. This project’s 157 residences will boost the number of condo transactions through the end of the year and into the 1st quarter 2020. Close on its heels are several other developments, which will allow for a strong sales and total volume pace in the next 12-18 months.

In general, lower mortgage rates (last month at 3.66 for 30-year fixed), a steady economy, and rising wages and household wealth are encouraging buyers to add to or upgrade their real estate holdings. It is especially appealing to those in the lower and mid-price tiers as, though prices are rising moderately, they appear more palatable to buyers in the current economic environment.

As 2019 enters the 4th quarter, it appears that The Sarasota Real Estate Market is on pace to maintain consistent growth through the end of the year.

And now for my statistical report on the October Sarasota Real Estate Market activity:

Sales

  • Total market dollar volume this past month was $373.1 million which increased by $88.6 million from a year ago.
  • Broken down, single-family sales were $280 million and condominium sales were $93.7 million for the month.
    • The volume in single-family was up $75.3 million compared to last year while condo volume was up $13.3 million.
  • The number of properties sold this past month was 1,042 – 176 more than a year ago. The sales total includes 727 houses, 129 ahead of last year – an increase of 21.6%, and 315 condos, 47 above last year or 17.5% more. Year to date the monthly sold properties average is 1,079 while in 2018 it was 1,001.
    • Florida’s single-family sales increased 5.2% from last year, and condo sales were just slightly below last year.
    • U.S. single-family sales rose 5.4% and condos down 1.7%.
  • Of the closed sales in October, 34 were for over $1,000,000, 27 were houses and 7 were condominiums. Sales of properties in this price tier more than doubled prior year transactions.
    • Florida homes sold for in excess of $1 million were 3.8% higher than October 2018 and condos closed at over $1 million fell 17.6%.
  • In 2018 Sarasota averaged 29 house sales and 17 condo sales per month over a $1 million, a small portion of our overall sales, while this year we are averaging 32 house sales and 12 condo sales per month for over $1 million.
  • Listings that went pending last month were 1,019 an increase of 113 transactions from a year ago. For 2018 the monthly average for pending sales was 1,031.
    • Florida’s single-family pending sales increased 13.3% and condos rose 4.2% compared to last year.
    • U.S. pending sales in October were 4.4% ahead of a year ago.

Prices

  • Single-family homes in The Sarasota Real Estate Market were sold at a median price of $285,000, an increase of 5.6% over last year. The 2018 monthly median price for houses sold was $281,662 and 2019 year to date it is $289,691.
    • In October, Florida median price for single-family homes was $263,000 a 3.6% increase over last year.
    • The national median price for existing homes grew 6.2% to $273,600.
  • The condominium median sale price was $220,352. Year to date the monthly average is $232,488 and the 2018 monthly median average was $230,989.
    • Median price for a Florida condo last month was $190,500, a 5.8% increase over October 2018.
    • U.S. median condo price grew $248,500, a 5.6% increase.
  • Sarasota houses sold on average for $385,131, where the 2018 monthly average was $384,110.
  • Condominiums sold for an average price of $297,501 last month. The condominium monthly average sale price in 2018 was $355,047.

Inventory

  • Currently there are 4,026 properties for sale in Sarasota. This is an increase of 204 listings from the month before. There were 5,401 listings at the end of 2018 and 4,401 listings at the end of 2017.
  • Of the available inventory for sale, 586 properties are listed for over $1 million or only 15%. Of the active listings over $1,000,000, 409 are houses and 177 are condominiums.
  • The Sarasota market had 1,416 new listings the past month. The market averaged 1,289 new listings in 2018. Of the new listings the past month, 127 properties were listed over $1,000,000.
  • Current inventory results in 3.8 months of single-family homes for sale in Sarasota and 4.1 month’s supply of condominiums.
    • Florida currently has 3.7 months of single-family inventory and 5.4 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased about 2% over last year.
    • U.S. inventory of all property types has fallen 4.3% from prior year, with 3.9 months of inventory available.

In today’s ever-fluid real estate market, the value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated.

Having served clients in The Sarasota Real Estate Market for more than 38 years and carefully analyzing our business conditions, I have developed essential insight to assist both buyers and sellers in achieving their objectives.

It would be my privilege to work with you, your family and friends in realizing your goals in acquiring or selling your property.

I hope that you all had a warm and wonderful Thanksgiving Holiday and enjoy the festive season ahead!

Sarasota Real Estate

View All My Listings

subscribe-button

 

Moulton Sarasota Real Estate Report – September Sales Sizzle

Sarasota Real Estate

The Moulton Sarasota Real Estate Report September 2019

Sarasota Housing Sales Sizzle in September

After a strong August, the September Sarasota Real Estate Market once again bested Florida and National sales by a considerable margin. Sales of existing homes and condominiums exceeded last year’s transactions by almost 25%. And while sales of luxury properties, those over $1 million, are a small percentage of our region’s total, the 32 transactions last month nearly doubled prior year activity.

Prices in the Sarasota Real Estate Market continue to grow, though at a moderate and sustainable pace. However, with inventory once again falling last month in both single-family and condominium segments, it is likely price escalation will remain well above inflation rates.

Pending sales are our best indicator for closings 30-60 days into the future. In September, homes and condos that went under contract grew by 12.5% over prior year, leading us to believe that our market will continue to see similar healthy activity in the months ahead.

There is no question that new tax laws and low mortgage rates are influencing our market. Those seeking to move their homestead to Florida to take advantage of our amazing amenities and beauty – as well as advantageous tax laws – are finding their options many. And, while my luxury clients typically pay cash for their properties, it is becoming difficult to resist our historically low interest rates. At the end of September, the 30-year fixed mortgage rate was just 3.64%.

Whether looking for new construction or existing, inventory is available to meet the growing demand. Earlier this year it appeared that The Sarasota Real Estate Market might be moving toward a balanced market where inventory and demand are more closely aligned, but recently we have seen inventory tightening again.

Builder confidence rose to its highest in 20 months, giving hope that the pace that we have seen in the last few years will continue and meet the strong interest new homes and condos. A recent report from Metrostudy indicated that construction in Lakewood Ranch, which reached 1,500 new home starts in the 3rd quarter, exceeded all other top-selling communities in Florida, Las Vegas, Arizona and California.

There are hundreds of beautiful condominiums under construction in the City of Sarasota, which will result in considerable growth in that segment over the next year. I have seen great interest from Longboat residents moving to the mainland and opting for the “lock and leave” convenience of a condo. Demand for these many new residences from both existing residences of our region and newcomers is strong and expected to remain so.

Housing market analysts call the nation’s current condition “normalized.” And without a significant geopolitical or other impactful event causing a major disruption to the U.S. economy, experts are looking to the real estate market to help to maintain the country’s healthy consumer attitudes and investment in housing as a long-term asset strategy.

And now for my statistical report on the September Sarasota Real Estate Market activity:

Sales

  • Total market dollar volume this past month was $351.7 million which increased by $76.4 million or 28% from a year ago.
  • Broken down, single-family sales were $262.9 million and condominium sales were $88.8 million for the month. The volume in single-family was up $68 million over the prior year while condo volume was up $8.3 million.
  • The number of properties sold this past month was 1,004, 198 more than a year ago. The sales total includes 689 houses and 315 condos. The year to date monthly sold properties average is 1,083, while in 2018 it was 1,001.
    • Florida’s single-family sales increased 11.5% from last year, and condo sales were up 6.1%.
      • Florida’s homes sold for in excess of $1 million were 13.3% higher than September 2018 and condos closed at over $1 million decreased 5.1%.
    • U.S. single-family sales increased 3.9% and condos grew 3.4% compared to last year.
  • Of the closed sales the past month, 32 were for over $1,000,000, 25 were houses and 7 were condominiums.
  • In 2018 Sarasota averaged 29 house sales and 17 condo sales per month over a $1 million.
  • Listings that went pending last month were 947 an increase of 105 transactions from a year ago. For 2018 the monthly average for pending sales was 1,031.
    • Florida’s single-family pending sales increased 4.5% and condos fell .4% compared to last year.
    • U.S. pending sales in September grew 3.9% over prior year.

Prices

  • Single-family homes were sold at a median price of $298,000. The 2018 monthly median price for houses sold was $281,662 and 2019 year to date it is $290,212. Sarasota houses sold on average for $381,521 where in 2018 it was $384,110.
    • In August, Florida median price for single-family homes was $265,000, a 5.3% increase over last year.
    • The national median price for existing homes grew 6.1% to $275,100.
  • The condominium median sale price was $232,000. Year to date the monthly average is $233,836 and the 2018 monthly median average was $230,989. Condominiums sold for an average price of $282,037 last month and in 2018 it was $355,047.
    • Median price for a Florida condo last month was $193,000, a 5.8% increase over September 2018.
    • U.S. median condo price grew to $248,600, a 4.5% increase.

Inventory

  • Currently there are 3,822 properties for sale in Sarasota. This is an increase of only 104 listings from the month before. There were 5,401 listings at the end of 2018 and 4,401 listings at the end of 2017.
  • Of the available inventory for sale, 517 properties are listed for over $1 million. Of the active listings over $1,000,000, 361 are houses and 156 are condominiums.
  • The Sarasota market had 1,144 new listings the past month. The market averaged 1,289 new listings in 2018.
  • Current inventory results in 3.4 months of single-family homes for sale in Sarasota and 4.4 month’s supply of condominiums.
    • Florida currently has 3.6 months of single-family inventory and 5.3 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased approximately 2% over last year.
    • U.S. inventory of existing single-family homes and condominiums has declined 2.7% to 4.1 months of supply.

In today’s ever-fluid real estate market, the value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated.

Having served clients in The Sarasota Real Estate Market for more than 37 years and carefully analyzing our business conditions, I have developed essential insight to assist both buyers and sellers in achieving their objectives.

It would be my privilege to work with you, your family and friends in realizing your goals in acquiring or selling your property.

Michael’s Featured Listing:

501 Halyard collageView All My Listings

subscribe-button

The Moulton Sarasota Real Estate Report August 2019 Sarasota Sales Buck Florida and National Trends

Sarasota Real Estate Market

The Moulton Sarasota Real Estate Report August 2019

Sarasota Sales Buck Florida and National Trends

August sales of existing homes and condominiums in the Sarasota Real Estate Market were considerably higher than the same month last year. Florida and U.S. total sales were narrowly ahead of prior year.

As we moved closer to the proverbial balanced market, where months of supply is nearer market demand, prices showed minimal growth. However, inventory is beginning to fall again in the mid- and upper-markets, which will help prices to maintain their moderate growth year-over-year in the months ahead. In the segments over $1 million, especially in the condominium category, inventory is continuing to grow.

As noted in the last several of my monthly reports, my current and prospective clients looking to transition out of their current residences need to be thoughtful when pricing their properties to sell. The adage of “pricing to sell and move on” versus setting unrealistic expectations is key in today’s market. Selecting a highly knowledgeable real estate professional who can walk you through the micro and macro comps, as well as other area indicators, will help you right-price your condominium or home and yield you the best outcome.

Pending sales in the Sarasota Real Estate Market also showed strong activity. With interest rates continuing to remain at historic lows and overall consumer confidence sound, this solid growth in contracts signed last month should result in sales improvements in the next 30-90 days.

National home builders surveyed this month revealed the strongest optimism in a year. HUD released a recent report noting that total housing starts are now at their highest pace since May 2007, growing 6.6% over last year’s rate. HUD and the Census Bureau also released their estimates for August new home sales – 18% ahead of last year.

With soaring buyer demand for new construction in all price points and types of housing, and despite the increase in building material and wage costs, it is expected that home builders will continue their strong rate of both single-family and multi-family construction. The added inventory will help The Sarasota Real Estate Market maintain a balanced market and allow prices to grow at a moderate pace.

And now for my statistical report on the August Sarasota Real Estate Market activity:

Sales

  • Total market dollar volume this past month was $401 million, which increased by $24.5 million or 6.5% from a year ago. Broken down, single-family sales were $279.6 million and condominium sales were $121.4 million for the month. The volume in single-family was up 2% to the prior year while condo volume was up almost 20%.
  • The number of properties sold this past month was 1,104, 73 more than a year ago. The sales total includes 769 houses, 53 (or 7.4%) ahead of last year and 335 condos, 20 (or 6.3%) above last year. The year to date the monthly sold properties average is 1,093 while in 2018 it was 1,001.
    • Florida’s single-family sales increased 3.2% from last year, and condo sales fell 2.9%.
      • Homes sold for in excess of $1 million were 8% higher than August 2018 and condos closed at over $1 million increased 1.4%.
    • U.S. single-family sales increased 2.9% and condos were virtually equal to last year.
  • Of the closed sales the past month, 35 were for over $1,000,000, 24 were houses and 11 were condominiums.
  • In 2018 Sarasota averaged 29 house sales and 17 condo sales per month over a $1 million, a small portion of our overall sales.
  • Listings that went pending last month were 1,124, an increase of 224 transactions from a year ago, a healthy 25% increase to help to establish a baseline for the next 30-60 days. For 2018 the monthly average for pending sales was 1,031.
    • Florida’s single-family pending sales increased just 1.3% and condos fell 1.4% compared to last year.
    • U.S. pending sales in July were grew 2.5% over prior year.

Prices

  • Single-family homes were sold at a median price of $280,000. The 2018 monthly median price for houses sold was $281,662 and 2019 year to date it is $289,238.
    • In August, Florida median price for single-family homes was $265,000, a 4.2% increase over last year.
    • The national median price for existing homes grew 4.7% to $280.700.
  • The condominium median sale price was $231,000. Year to date the monthly average is $234,066 and the 2018 monthly median average was $230,989.
    • Median price for a Florida condo last month was $190,000, a 2.7% increase over August 2018.
    • U.S. median condo price grew to $257,600, a 5.2% increase.
  • Sarasota houses sold on average for $363,534, where the 2018 monthly average was $384,110.
  • Condominiums sold for an average price of $362,419 last month. The condominium monthly average sale price in 2018 was $355,047.

Inventory

  • Currently there are 3,778 properties for sale in Sarasota. This is a decrease of 329 listings from the month before. There were 5,401 listings at the end of 2018 and 4,401 listings at the end of 2017.
  • Of the available inventory for sale, 520 properties are listed for over $1 million or only 14%. Of the active listings over $1,000,000, 369 are houses and 151 are condominiums.
  • The Sarasota market had 1,154 new listings the past month. The market averaged 1,289 new listings in 2018.
  • Current inventory results in 3.5 months of single-family homes for sale in Sarasota, a decline of 8.9% from a year ago, and 4.4 month’s supply of condominiums, nearly equal to last year.
    • Florida currently has 3.6 months of single-family inventory and 5.4 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased approximately 3% over last year.
    • U.S. inventory of existing single-family homes and condominiums has declined 2.6% to 4.1 months of supply.

In today’s ever-fluid real estate market, the value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated.

Having served clients in The Sarasota Real Estate Market for more than 37 years and carefully analyzing our business conditions, I have developed essential insight to assist both buyers and sellers in achieving their objectives.

It would be my privilege to work with you, your family and friends in realizing your goals in acquiring or selling your property.

My Featured Listing:

Sarasota Real Estate

View All My Listings

subscribe-button

Moulton Sarasota Real Estate Report – July 2019 – Favorable Conditions Sustain Momentum

Sarasota Real Estate

The Sarasota Real Estate Market has been inching toward a buyer’s market, but conditions are currently neither strongly favoring either buyer’s or seller’s sides. July sales of existing single-family homes saw strong growth in all price points, but most noticeably in the greater than $1 million segment where 32 properties sold compared to last year’s 18. In 2019’s first seven months, sales in the single-family luxury market are stable, with just three more selling than prior year’s same period.

Prices of single-family homes have grown consistently this year. Resulting sales volume for the month of July was ahead of last year by more than 24% and up almost 7% year-to-date.

In the condominium market, transactions in July fell more than 10%; 15% in the luxury market. Year-to-date, luxury condominium sales have decreased over 60% according to Trendgraphix, yet inventory has risen 30%. There have been limited new buildings brought to market in 2019, so the growth in inventory is coming from existing – and in most cases – aging product.

With considerable new condominium development underway, we will see increased closings at the end of this year and early 2020. I would encourage condo sellers to work closely with their realtors to ensure units are priced competitively to sell prior to the next wave of new product coming to market.

With talk of a possible economic downturn looming, housing industry experts and analysts point out that, aside from the great recession, traditionally real estate appreciation tends to slow only slightly during recessions, averaging 4% compared to 4.6% on average during economic expansions.

Demand in the Sarasota Real Estate Market remains strong. Home builder and construction of multi-unit projects is robust in our region. Nationwide consumers believe that home prices will continue to grow despite economic fluctuations.

A recent analysis from the Wall Street Journal and Realtor.com reviewing the luxury home market across America determined that Sarasota is the 6th best buyer’s market in the nation. With interest rates hitting just 3.77% for a 30-year fixed rate mortgage last month, strong consumer confidence, a steady flow of traffic from “tax-refugee” buyers, increased inventory and active new construction, I see all of these favorable conditions helping The Sarasota Real Estate Market maintain a steady growth pattern.

And now for my statistical report on the July Sarasota Real Estate Market activity:

Sales

  • Total market dollar volume this past month was $403.5 million which increased by $41 million or 11% from a year ago.
  • Broken down, single-family sales were $309.7 million and condominium sales were $93.8 million for the month.
  • The number of properties sold this past month was 1,107, 62 more than a year ago. The sales total includes 802 houses, 98 ahead of last year and 305 condos, 36 below last year. The year to date the monthly sold properties average is 1,091 while in 2018 it was 1,001.
    • Florida’s single-family sales increased 10.4% from last year, and condo sales were 4.3% above last year. Homes sold for in excess of $1 million were 17.5% higher than July 2018 and condos closed at over $1 million rose 8.2%.
    • U.S. sales with single-family sales increased just 1% and condos down 3.3%.
  • Of the closed sales the past month, 43 were for over $1,000,000, 32 were houses and 11 were condominiums.
  • In 2018 Sarasota averaged 29 house sales and 17 condo sales per month over a $1 million, a small portion of our overall sales while this year we are averaging 35 house sales and 15 condo sales per month for over $1 million.
  • Listings that went pending last month were 1,041 an increase of 43 transactions from a year ago. For 2018 the monthly average for pending sales was 1,031.
    • Florida’s single-family pending sales increased 7.4% and condos rose 3.2% compared to last year.
    • U.S. pending sales in July have not been released as of the date of this report.

Prices

  • Single-family homes were sold at a median price of $290,000. The 2018 monthly median price for houses sold was $281,662 and 2019 year to date it is $290,558.
    • In July, Florida median price for single-family homes was $268,000, a 5.1% increase over last year.
    • The national median price for existing homes grew 4.5% to $284,000.
  • The condominium median sale price was $224,000. Year to date the monthly average is $234,504 and the 2018 monthly median average was $230,989.
    • Median price for a Florida condo last month was $188,000, a 4.4% increase over July 2018.
    • U.S. median condo prices grew 2.5% to $254,300.
  • Sarasota houses sold on average for $386,220, where the 2018 monthly average was $384,110.
  • Condominiums sold for an average price of $307,526 last month. The condominium monthly average sale price in 2018 was $355,047.

Inventory

  • Currently there are 4,107 properties for sale in Sarasota. This is a decrease of 407 listings from the month before. There were 5,401 listings at the end of 2018 and 4,401 listings at the end of 2017.
  • Of the available inventory for sale, 587 properties are listed for over $1 million or only 14%. Of the active listings over $1,000,000, 422 are houses and 165 are condominiums.
  • The Sarasota market had 1,078 new listings the past month. The market averaged 1,289 new listings in 2018. Of the new listings the past month 62 properties were listed over $1,000,000.
  • Current inventory results in 3.8 months of single-family homes for sale in Sarasota and 4.9 month’s supply of condominiums.
    • Florida currently has 3.8 months of single-family inventory and 5.5 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased about 4% over last year.
    • U.S. inventory of all existing housing types decreased 1.6% to 4.2 months of supply.

In today’s ever-fluid real estate market, the value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated.

Having served clients in The Sarasota Real Estate Market for more than 37 years and carefully analyzing our business conditions, I have developed essential insight to assist both buyers and sellers in achieving their objectives.

It would be my privilege to work with you, your family and friends in realizing your goals in acquiring or selling your property.

My Featured Listing:

View All My Listings

The Moulton Sarasota Real Estate Report – June 2019 – Market Balance Boosts Sustainability

Sarasota Downtown

The number of transactions in the Sarasota Real Estate Market last month continued to show that the region has moved to more balanced conditions than have been seen over the last several years. Sales in the Sarasota market were nearly equal to last year. Prices grew at a healthy pace and inventory of both single-family homes and condominiums also moved higher. Pending contracts signed in June increased signaling that in the months ahead we will likely see sustained market conditions.

Condominium sales are still lagging well behind last year when there was a burst of new projects coming to market. It is in this segment where the greatest decrease in volume has occurred in the first-half of 2019. Several projects are under construction with the largest expected to begin welcoming new residents toward the end of the year and several others coming to market in 2020. Existing home inventory is still leaning towards a seller’s market, but the condo segment at 5.3 months of inventory is in the range of favoring neither buyers nor sellers.

I have been encouraging my sellers in the condominium segment to meet with me to discuss pricing and sales strategies to ensure we are staying competitive. Especially in the sector over $1 million, where inventory is nearly 40% more dense than last year at this time, purposeful and tactical approaches are needed to make sure our listings are set to sell.

Home builders in July once again responded to NAHB’s monthly survey that they continue to have strong confidence in the market. As has been well reported in our region, new communities in the eastern portions of our counties are fulfilling strong demand for modern construction and amenities. For existing home sellers, they also need to be sensible about expectations as inventory in their sector grows.

As has been mentioned in my recent reports, I remain bullish on the Sarasota Real Estate Market. With the flow of “tax refugee” relocations to our area expected to continue, excellent economic conditions – including the longest stretch of mortgage rates below 5% in more than 60 years, low unemployment, as well as significant strength in our condominium and home building regionally, there is plenty of supporting evidence that our market balance and steady conditions suggest a solidly sustainable environment.

And now for my statistical report on the June Sarasota Real Estate Market activity:

Sales

  • Total Sarasota Real Estate Market dollar volume of $431.6 million in June decreased by $25.9 million, or 6% from the same month a year ago.
  • Broken down, single-family sales were $326.1 million and condominium sales were $105.5 million for the month.
    • The volume in single-family was nearly equal to prior year while condo volume was down over 17%.
  • The number of properties sold in June was 1,165, 17 less than a year ago. The sales total includes 821 houses (2.9% ahead of last year) and 344 condos (10.4% below 2018.) The 2018 monthly average for sold properties in Sarasota was 1,001.
    • Florida’s single-family sales decreased 1.9% from last year, and condo sales were 9.4% below prior year. Homes sold for in excess of $1 million were 5.5% lower than June 2018 and condos closed at over $1 million fell 25%.
    • U.S. sales fell with single-family sales declining 1.7% and condos down 6.5%.
  • Of the closed sales in Sarasota last month, 44 were for over $1,000,000, 38 were houses and 6 were condominiums.
  • In 2018 Sarasota averaged 29 house sales and 17 condo sales per month for over a $1 million sale price, a small portion of our overall sales.
  • Listings that went pending in June were 1,091, an increase of 21 transactions from the same month last year. For 2018 the monthly average for pending sales was 1,031.
    • Florida’s single-family pending sales increased 4.9% and condos fell 1.5% compared to last year.
    • U.S. pended sales in June were 1.6% ahead of a year ago.

Prices

  • In June, Sarasota’s single-family homes were sold at a median price of $290,000. The 2018 monthly median price for houses sold was $281,662.
    • In June, Florida median price for single-family homes was $270,000 a 3.8% increase over last year.
    • The national median price for existing homes grew 4.5% to $288,900.
  • The condominium median sale price in Sarasota was $234,000 in June. The 2018 monthly median average was $230,989.
    • Median price for a Florida condo last month was $194,900, a 2.6% increase over June 2018.
    • U.S. median condo price grew to $260,100, a 2.8% increase.
  • Sarasota houses sold on average for $397,227 in June, where the 2018 monthly average was $384,110.
  • Condominiums sold for an average price in June of $306,559. The condominium monthly average sale price in 2018 was $355,047.

Inventory

  • Currently there is available inventory of 4,514 properties for sale in Sarasota. This is a decrease of 360 listings from May. There were 5,401 at the end of 2018 and 4,401 at the end of 2017.
  • Of the available inventory for sale, 642 properties are listed for over $1 million or only 14%. 471 of the active listings over $1,000,000 are houses and 171 are condominiums.
  • Sarasota County had 1,028 new listings in June. The local market averaged 1,289 new listings in 2018. Of the new listings the past month 55 properties were listed over $1,000,000.
  • Current inventory results in 4.2 months of single-family homes for sale in Sarasota and 5.3 month’s supply of condominiums.
    • Florida currently has 3.9 months of single-family inventory and 5.7 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased about 6% over last year.
    • U.S. inventory of existing single-family homes is virtually equal to last year and condo inventory has grown 4.6%.

In today’s ever-fluid real estate market, the value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated.

Having served clients in The Sarasota Real Estate Market for more than 37 years and carefully analyzing our business conditions, I have developed essential insight to assist both buyers and sellers in achieving their objectives.

It would be my privilege to work with you, your family and friends in realizing your goals in acquiring or selling your property.

My Featured Listing:

Sarasota Real Estate

View All My Listings

subscribe-button

SOLD! Harbor Acres Epitome of Sophistication

1415 Flower Dr.

Congratulations to my buyers, who will certainly enjoy quiet stylish living and dazzling entertaining in this spectacular residence! Sold for $2,825,000.

Located in the heart of Sarasota in Harbor Acres, one of Sarasota’s most coveted neighborhoods, this magnificent five-bedroom residence exudes sophistication.

Built in 2014, this contemporary expression of Sarasota living fuses a clean-lined custom design with artful details. Boasting a magnificent open, great room floor plan flowing with ease and elegance with details such as an electric fireplace and custom floating shelves, which create sculptural centers of interest.

My epicurean clients will certainly enjoy the modern kitchen with granite island, and premium appliances and cabinetry, along with extraordinary flooring, wall and ceiling finishes, including exotic wood accents, Porcelanosa Italian tile on bathroom walls, 10’ doors and sliding glass doors, hurricane-rated windows and doors, fully functional smart-home technology and security, and whole house generator.

Adding to the true Florida lifestyle…but in the most remarkable milieu, the outdoor terrace is a tropical testament to the Sarasota’s unique environment. Featuring a heated pool with expansive sunshelf, stone waterfall, spa, custom outdoor kitchen, retractable patio screens, and gas fireplace, just outside the vast walls of living room glass.

The Selby Gardens-inspired landscaping creates a series of outdoor “rooms”, completely walled and private for quiet reflection and enjoyment. Located in the heart of Sarasota, near exceptional and varied dining experiences, boating adventures, white-sand beaches, and endless arts and culture.

Moulton Sarasota Real Estate Report – Slowing Price Appreciation Motivates Sellers

Sarasota Real Estate

The Sarasota Real Estate Market experienced a solid increase in sales activity in May when compared to prior year. The single-family home segment carried the majority of the growth, where there was a 17% increase in closings of all price points and more than 26% more transactions over $1 million. In addition, total sales volume grew 26.3% and prices also saw above average appreciation. As has been the case for the last several months, the condominium sector was less robust but did see a modest increase in sales last month.

The movement of new home sales is continuing to pace ahead of last year with little change expected on the horizon. Though labor and supplies are still creating challenges for new construction, home builders surveyed remain confident and continue to feed the strong demand for new construction, both in single-family and condominiums.

One of the key market drivers in the Sarasota Real Estate Market is coming from the now labeled “tax refuges” from states such as New York, New Jersey, Illinois and California. Those of us who serve high net worth clientele from these states searching for properties have seen a shift from second homes to more demand for primary residences. We are also seeing a rise in middle-market buyers from those same states who are small business owners and wish to close shop in their hometowns and start fresh in our area.

At the same time demand is increasing, we have also seen growth in available inventory. As price appreciation has slowed this year, would-be sellers who were waiting for more double-digit gains are now motivated to list their properties for sale and get on with their own purchase of a new home. Especially in the price tier over $1 million, we are seeing significant increases in available inventory with single-family listings last month alone growing 13.4% and condominiums 41.1%.

I am very encouraged by both the out-of-area buyers I am working with who are anxious to find something quickly to transition their primary residence, and, also the eager sellers who are entering the market. Though our traditionally slower months are not far off, I believe that the Sarasota Real Estate Market will continue to see healthy activity.

And now for my statistical report on the May Sarasota Real Estate Market activity:

Sales

  • Total Sarasota Real Estate Market dollar volume of $559.9 million in May increased by $92.4 million or approximately 20% from the same month a year ago, a great month to close out the winter selling season
  • Broken down, single-family sales were $394.6 million and condominium sales were $165.3 million for the month.
  • The number of properties sold in May was 1,416, 144 more than a year ago. The sales total includes 959 houses and 457 condos. The 2018 monthly average for sold properties in Sarasota was 1,001.
    • Florida’s single-family sales increased 9.6% over last year, and condo sales were up 1.6% compared to prior year. Homes sold for in excess of $1 million were 11% higher than May 2018 and condos closed at over $1 million fell 13%.
    • U.S. sales fell slightly with single-family sales declining .8% and condos down 3.3%.
  • Of the closed sales in Sarasota last month, 66 were for over $1,000,000, 48 were houses and 18 were condominiums.
  • In 2018 Sarasota averaged 29 house sales and 17 condo sales per month for over a $1 million sale price, a small portion of our overall sales.
  • Listings that went pending in May were 1,244, an increase of 110 transactions from the same month last year, deviating from the nearly static state and national trends. For 2018 the monthly average for pending sales was 1,031.
    • Florida’s single-family and condo pending sales were virtually equal to last year.
    • U.S. pended sales in May increased slightly, 1.1% compared with a year ago.

Prices

  • In May, Sarasota’s single-family homes were sold at a median price of $305,305. The 2018 monthly median price for houses sold was $281,662.
    • In May, Florida median price for single-family homes was $266,000 a 4.3% increase over last year.
    • The national median price for existing homes grew 4.6% to $280,200.
  • The condominium median sale price in Sarasota was $238,000 in May. The 2018 monthly median average was $230,989.
    • Median price for a Florida condo last month was $194,050, a 2.1% increase over May 2018.
    • U.S. median condo price grew to $257,100, a 5.4% increase.
  • Sarasota houses sold on average for $411,499 in May, where the 2018 monthly average was $384,110.
  • Condominiums sold for an average price in May of $361,732. The condominium monthly average sale price in 2018 was $355,047.

Inventory

  • Currently there is available inventory of 4,874 properties for sale in Sarasota. There were 5,401 at the end of 2018 and 4,401 at the end of 2017. This is a decrease of 455 listings from May.
  • Of the available inventory for sale, 682 properties are listed for over $1 million or only 14%. 500 of the active listings over $1,000,000 are houses and 182 are condominiums.
  • Sarasota County had 1,188 new listings in May. The local market averaged 1,289 new listings in 2018. Of the new listings the past month 70 properties were listed over $1,000,000.
  • Current inventory results in 4.5 months of single-family homes for sale in Sarasota and 5.7 month’s supply of condominiums.
    • Florida currently has 4.0 months of single-family inventory and 5.9 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased more than 6% over last year.
    • U.S. inventory of all housing types is sitting at 4.3 months of supply, increasing 2.7% in May over prior year.

In today’s ever-fluid real estate market, the value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated.

Having served clients in The Sarasota Real Estate Market for more than 37 years and carefully analyzing our business conditions, I have developed essential insight to assist both buyers and sellers in achieving their objectives.

It would be my privilege to work with you, your family and friends in realizing your goals in acquiring or selling your property.

Michael’s Featured Listing:

Sarasota Real Estate

subscribe-button

The Moulton Sarasota Real Estate Report – February 2019 Inches Toward a Balanced Market

Sarasota Real Estate

The Moulton Sarasota Real Estate Report – February 2019

Inching Toward a Balanced Market

The Sarasota Real Estate Market has been inching toward what the industry refers to as a “balanced” or “normal” market for the last five years. February’s sales and inventory activity brought us even closer to this equalized condition, in which neither buyers or sellers are in an advantageous position.

Nationally and in our own region we experienced nearly 7 years of a buyer’s market after the downturn started in 2007, we then had nearly 7 years of a seller’s market when inventory was not keeping up with rising demand, and we are finally entering a more stabilized period.

The signs of a balanced market are just what our statistical reporting has indicated we were approaching these last several months: a slowing of transactions, increased inventory available, narrowing of list-to-sale prices and median sales prices are rising at a slower pace.

I have seen first-hand an increase in the number of my clients who had been waiting on the side-lines to list their home for fear of not finding a suitable place to move. These would-be sellers finally have confidence that there is ample supply and are moving forward.

At the same time, the number of buyers entering the Sarasota Real Estate Market is as active as I have ever seen, and for the first time in recent memory I can find a quality portfolio to present that will allow them several options from which to choose, in excellent condition and in their prime locations.

However, the savvy buyers who have been waiting the last few years to pursue their new properties are ready to buy now and I’m beginning to see deals lost because the best are going very quickly…including several recently that never made it to full listing before going under contract.

Whether a buyer or seller in the Sarasota Real Estate Market, this is an excellent time to be making your move. Sellers are motivated to get into their next property and buyers are equally driven to move. As an experienced broker-realtor in the Sarasota market for more than 35 years, I have seen my fair share of cycles – this is something we have been expecting for some time and the stability is welcome.

With interest rates expected to remain low, consumer confidence strong, and new construction on the rise, I expect the months ahead to continue a slow and steady growth.

And now for my statistical report on the February Sarasota Real Estate Market activity:

Sales

  • Total Sarasota Real Estate Market dollar volume of $339.3 million in February decreased by $19.3 million from the same month a month ago.
  • Broken down, single-family sales were $236 million and condominium sales were $103.3 million.
  • The number of properties sold in February was 870, only 14 less than a year ago. The sales total includes 593 houses and 277 condos.
    • The 2018 monthly average for sold properties in Sarasota was 1,001.
    • Florida’s single-family sales increased 1.9% and condo sales were down 5.7% compared to prior year. Homes sold for in excess of $1 million fell 11.5% and condos 13.2%.
    • U.S. sales fell with single-family sales declining 1.4% and condo down 5%.
  • Of the closed sales in Sarasota last month, 37 were for over $1,000,000, 25 were houses and 12 were condominiums.
  • In 2018 Sarasota averaged 29 house sales and 17 condo sales per month for over a $1 million sale price, a small portion of our overall sales.
  • Listings that went pending the past month were 1,118 and decreased by 83 transactions from the same month last year, though were 64 more than January.
    • For 2018 the monthly average for pending sales was 1,031.
    • Florida’s single-family pending sales were equal to last year and 3.1% fewer condo contracts were written compared to last year.
    • U.S. pending sales have fallen the last 14 months, in February down 4.9% compared to prior year.

Prices

  • In February, Sarasota’s single-family homes were sold at a median price of $287,700, an increase of 5.3% over prior year.
    • The 2018 monthly median price for houses sold was $281,662.
    • In February, Florida median price for single-family homes was $250,500 a 1.3% increase over last year.
    • The national median price for existing homes grew by 3.6% to $251,400.
  • The condominium median sale price in Sarasota was $242,000 in February, up 10.5% over last year.
    • The 2018 monthly median average was $230,989.
    • Median price for a Florida condo last month was $187,500, a 4.7% increase over February 2018.
    • U.S. median condo price grew to $233,300, a 3.1% increase.
  • Sarasota houses sold for $397,980 on average in February where the 2018 monthly average was $384,110.
  • Condominiums sold for an average price in February of $373,070. The condominium monthly average sale price sold in 2018 was $355,047.

Inventory

  • Currently there is available inventory of 5,749 properties for sale in Sarasota County. There were 5,401 at the end of 2018 and 4,401 at the end of 2017.
  • Of the available inventory for sale, 728 properties are listed for over $1 million or only 12.6%. 541 of the active listings over $1,000,000 are houses and 187 are condominiums.
  • Sarasota County had 1,507 new listed properties in February. The local market averaged 1,289 new listings in 2018. Of the new listings the past month 119 properties were listed over $1,000,000.
  • Current inventory results in 5.4 months of single-family homes for sale in Sarasota and 6.5 month’s supply of condominiums.
    • Florida currently has 4.3 months of single-family inventory and 6.4 month’s supply of condominiums. Inventory of properties selling for over $1 million have increased more than 10% over last year.
    • U.S. inventory of all housing types is sitting at 3.5 months of supply.

Having served clients in The Sarasota Real Estate Market for more than 37 years and carefully watching and examining business conditions, I have developed essential insight to aid both buyers and sellers in achieving their objectives in today’s shifting real estate market.

The value of partnering with a highly experienced, locally as well as globally connected agent/broker, and a skilled negotiator and advocate cannot be understated.  I look forward to working with you, your family and friends in achieving your goals in acquiring or selling your property.

Michael’s Featured Listing:

Sarasota Waterfront

subscribe-button