Market Snapshot: Central Sarasota Single Family Homes

Central Sarasota has always been a hot spot due to its proximity to beaches, doctors, shopping and great schools. These statistics should give a glimpse as to what the market has done over the last year. Perhaps the most shocking number to consider is that the average sale price of a central Sarasota home has increased 57% in one year. For you locals, the area that I am considering to be central Sarasota is the square between Fruitville Road and Central Sarasota Parkway, sandwiched by US 41 and Interstate 75. Here's the numbers:

September 2005
New Listings: 219 Sales: 106 Average Sale Price: $395,924 Average List Price: $421,247 Average Days on the Market: 76

March 2005
New Listings: 196 Sales: 173 Average Sale Price: $323,457 Average List Price: $397,142 Average Days on the Market: 68

September 2004
New Listings: 232 Sales: 173 Average Sale Price: $252,047 Average List Price: $267,913 Average Days on the Market: 101

Notice that new listings this month double the sales so far! Talk about a correction! Buyers can relax a little bit and enjoy a more powerful situation in the market and the negotiating process. If you have been contemplating a buy in the Central Sarasota market, now is a great time to consider making your move.