More good news regarding the Sarasota Real Estate Market
The median price in March for a home in Sarasota increased by $6,000 compared the month before. This 4 percent gain is another indicator that the market is turning around, that we have seen the bottom.
One Sarasota realtor reported that pending sales had tripled this past month and closed sales were up 50%
Statewide, sales rose 30 percent in March. National the median price rose 4.2 percent from a month ago.
And, the number of unsold homes on the market fell 1.6 percent in March from a month
Other positive signs are continued low mortgage rates and the $8,000 tax credit for first-time home buyers. Buyer traffic has been rising.
Here at Signature Sotheby’s International Realty we are seeing a significant increase in contracts being written and transactions being closed. It has been a rough almost 4 years, but it is pretty clear that the bottom is behind us. With that in mind we caution buyers to not wait too long. Many of the best homes here is Sarasota are selling and others will not be available for long.