Great Neighborhoods. A Seller’s Market. More New Development and Re-sale ROI.
As we head out of a hot and steamy August towards season, July's real estate statistics show house prices continuing to rise, due to low inventories and further declines in distress sales, suggesting that Sarasota is still a seller's market and it's a great time to list property.
SOLD by Murray Realty
Neighborhoods to Watch!
Sapphire Shores
Located just south of the Ringling Museum, many of Sapphire Shores’ original residents were connected to John Ringling, and a significant number of the 1920‘s Spanish mansions that they lived in still remain. Today’s residents range from retirees to families, artists, and students attending Ringling School of Art, making it a very eclectic neighborhood in which to reside. Its proximity to downtown, Sarasota Bay and SRQ Airport also make it super convenient.
Country Club Shores
Country Club Shores on Longboat Key dates back to the 1960’s and retains its own, old fashioned sense of community. This convenient gem sits on the southern end of the key, making it wonderfully close to downtown Sarasota, St. Armands Circle, Lido Key and of course, golf, tennis and the host of other amenities at the Longboat Key Club. With most homes located on canals, residents have incredible views of the city and Sarasota Bay, making this an extraodinarily unique place to settle on LBK.
Facts and Stats
Media sales prices for single family homes are up 7.2% and condos are up 4.5%
Sarasota County Monthly Market Summary - July 2017
| Single Family Homes | July 2017 | July 2016 | Percentange Year Of Year |
|---|---|---|---|
| Closed Sales | 683 | 680 | -0.4% |
| Paid in cash | 228 | 233 | -2.1 |
| Median sales price | $260,000 | $242,500 | 7.2% |
| Average sale price | $373,959 | $335,617 | 11.4% |
| Doll.ar volume | $255.4 million | $228.2 million | 11.9% |
| Median % of original listing price received | 95.2% | 95.2% | 0.0% |
| Median time to contract | 55 days | 45 days | 22.2% |
| Median time to sale | 103 days | 97 days | 6.2% |
| New pending sales | 703 | 659 | 6.7% |
| New listings | 744 | 757 | -1.7% |
| Pending inventory | 1,011 | 1,020 | -0.9 |
| Inventory (active listings) | 2,714 | 2,538 | 6.9% |
| Months supply of inventory | 4.1 | 3.8 | 7.9% |
| Townhomes & Condos | July 2017 | July 2016 | Percentange Year Of Year |
|---|---|---|---|
| Closed Sales | 306 | 255 | 20% |
| Paid in cash | 183 | 151 | 21.2% |
| Median sales price | $214,175 | $206,000 | 4.5% |
| Average sale price | $327,912 | $325,238 | 0.8% |
| Doll.ar volume | .3 million | $82.9 million | 21.0% |
| Median % of original listing price received | 94.1 | 95.0 | -0.9% |
| Median time to contract | 61 days | 58 days | 5.2% |
| Median time to sale | 106 days | 105 days | 1.0% |
| New pending sales | 289 | 294 | 1.7% |
| New listings | 323 | 316 | 2.2% |
| Pending inventory | 474 | 483 | 1.9% |
| Inventory (active listings) | 1,458 | 1,392 | 4.7% |
| Months supply of inventory | 4.6 | 4.7 | 2.1% |
Lofts & Retail Announced
for Whitaker Bayou on US 41
More great developments just announced on the 41, between 14th and 15th Streets in the 34234 corridor at Whitaker Bayou. This comes as The Florida Department of Transportation announces multimillion-dollar plans to improve Tamiami Trail between 10th and 15th Streets later this year with two roundabouts - one on 10th and one on 14th at the southwest corner of the site. The owner / developer, Halflants + Pichette Studio for Modern Architecture, has influenced Sarasota’s Rosemary District’s resurgence with designs for Vanguard Lofts and Risdon on 5th.
Selling a Home -
Where’s the Resale Bang for your Buck?
Introducing The Intrepid
Just unveiled! Check out our newest offering, The Intrepid, by Murray Homes, the ultimate living experience for the discerning buyer at the in Lakewood Ranch!
Downtown
Development News
Sarasota City leaders meet on Monday night to consider plans for the latest downtown development. The $89 million skyscraper from Core Development, with 50 condos, retail space and parking garage, is planned for the corner of Boulevard of the Arts and US41. It needs special encroachment approval as it spans two properties and a 20 foot alley.