APce Of Sales Quickens During February 2015

APce Of Sales Quickens During February 2015

Pace of sales quickens during February 2015

The number of closed property transactions increased in February 2015 across both Manatee and

Sarasota counties, and pending sales also remained at a high level, a harbinger for a busy spring

real estate sales forecast. Median sale prices were also up substantially, particularly in Manatee

County, a sign that the market is favoring sellers as 2015 begins.

“Once the holidays have passed, home shoppers jumped off the fence and started signing

contracts,” said Association President Stafford Starcher. “We are now above the record pace of

sales experienced in 2014, and the pending transactions would indicate the current pace isn’t

going to slow in the foreseeable future.”

In February 2015, closed sales in Sarasota County totaled 837 (585 single family homes and 252

condos), up 12.3 percent from January’s figure of 743. In Manatee County, sales were at 593

(428 single family homes and 165 condos), up 6.1 percent from January’s total of 559.

Future sales, which can be projected from the pending sales figure, look bright in both counties.

Sarasota County jumped up to 1,046 from last month’s total of 995, while Manatee County stood

at 685, about the same as January’s figure of 677. Both numbers were up over last February’s

figures.

Another bright spot was the median sale price, which remained strong and substantially above

last year at this time. In Sarasota County, the median for single family homes was at $196,000,

up about 6 percent over last February when the figure was $185,000. For condos, the median was

at $187,500, up 10.3 percent over last year. Manatee County single family homes rose to a

median sale price of $256,750, up 16.7 percent over last February’s figure of $220,000, while

condos were at $152,000, up 12.6 percent over last year’s level of $135,000.

Inventory of available properties remained almost the same from January to February in both

Sarasota and Manatee counties after rising during the past six months. There were 4,439

properties on the market in Sarasota County in February (up from last month’s 4,385) and 3,166

properties for sale in Manatee County (up from 3,106).

“Properties in the two counties are selling at a high pace, and prices are on the rise, which tells us

we are experiencing a healthy, vibrant market,” said Starcher. “The inventory totals have leveled

off, which means we could see even higher prices going forward, based on the laws of supply

and demand.”

Distressed sales, short sales and foreclosures, continued to represent about a fifth of the overall

market in February 2015. In Sarasota County, distressed sales were at 20.2 percent of the total,

while in Manatee County the figure was 21.2 percent. Both numbers were down from January,

although not significantly. In February 2014, about 20 percent of closed sales in Sarasota County

and 27 percent in Manatee County were distressed properties.

“The bottom line – this is a great time to put your property on the market with a Realtor® and test

the water,” said Starcher. “Our members are very busy, and enthusiastic about this real estate

market. I’m encouraged by the numbers we are seeing, and even more encouraged by the attitude

and professionalism of the Association’s members.”

Realtor Association Releases Statistics for February 2015  Sarasota-Manatee Board of Realtor

Author: Kathy Toonder
Phone: 941-544-7270
Dated: March 23rd 2015
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About Kathy: I enjoy walking the warm sandy beaches, swimming and watching the magnificent sunsets on Florida’s...