Sarasota Condominium Sales Remain Bright Spot
April 14th, 2007
Condo sales remain bright spot in February numbers
For February 2007, condo sales in Sarasota reached 192, up 43 percent from January 2007 and up 88 percent from December 2006’s total of 102. These figures still are behind the boom year of 2005 but well ahead of last year’s number for February.
The median price for condos is now $419,000, slightly lower than the January median sale price of $420,125. The median price for condos was only $326,250 in February 2006 and only $265,000 in February 2005.
Residential single-family sales were also up in February 2007 compared to the previous month. Sales and prices are still behind 2006 prices. Sarasota home sales totaled 240 in February 2007, down from a year ago, but up from January 2007’s total of 229.
Pending sales are up, showing the future trend remains favorable. Joe Hembree, SAR President affirms “these figures continue to demonstrate that the weakening local real estate market trend in 2006 has reversed course.”
Also, Bizjournals.com released its list of hottest retirement destinations in America in February. In urban markets with at least 500,000 residents, Sarasota-Bradenton was tops in the nation.
If you think now is the time to buy real estate in Sarasota Florida, Annette Smith with RE/MAX Properties is available to help you be an informed home buyer or home seller in today’s changing Sarasota real estate market.
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