…But House Prices Continue to Rise
Sales for November 2013 have leveled off somewhat, yet single-family home prices are still on the rise. It seems home buyers and sellers have stopped to take a breather after a very busy year of record-setting sales. All signs are pointing to an even busier 2014 for the Sarasota real estate market. Here are some of the highlights:
- Median prices for a Sarasota single family home in November 2013 are still on the rise with a 20.6 percent increase over November 2012. Average prices were $187,000 compared to $155,000 from last year.
- Condo prices were slightly lower than the same time last year, but up over 10 percent based on an average 12-month comparison.
- Overall November property sales were 760 (531 for single-family homes and 229 condos); down slightly from October’s sales of 818 (582 single-family and 236 condos).
- Inventory levels are increasing, with 4,288 properties on the market, compared to 4,032 from last month.
2014 Expected to Break Even More Records
Just as we at Coffey & Company are predicting a busy season, SAR President Roger Piro is also optimistic:
“Despite some of the moderating numbers we are seeing, I am still confident in our current market dynamics and Sarasota County’s future real estate direction,” said Piro. “I consider this period a lull following dynamic growth in sales and prices for almost the entire year of 2013. Once we get into early 2014, I wouldn’t be surprised if this market expanded once again.”
If you have any questions, or would like to get more information about energy saving features to watch for when buying a Sarasota home, please don’t hesitate to Contact us at 941.284.4474 or Toll free 941.404.4737. One of our qualified agents will gladly get back to you.
