This is a summary of July’s real estate report for Sarasota and Manatee Counties provided by The Realtor Association of Sarasota and Manatee (RASM). The original report can be found here. http://sarasotamanateerealtors.com/files/stats/July2015.pdf
I put together this dramatized format to make for an easier and light hearted read. A real estate agent (Agent) and their friend (Friend) do small talk over sandwiches in a downtown Sarasota café.
Friend – You looked exhausted already. Want some coffee to keep you going the rest of the day?
Agent – Yes thank you. It’s very busy. Lots of closings this month.
Friend – Well, here have some coffee. Is it the same for Manatee? You know I live in Manatee County.
Agent – Yes it is. There were almost 2000 closings in July, 2000 minus 26, making 1974, but who’s counting? That’s over 23% higher than July last year.
Friend – That’s a lot of closings for one month.
Agent – Yup tell me about it! Sarasota had 1174 closings and Manatee had 768.
Friend – And here we thought 2014 was hot.
Agent – Yeah 2014 was pretty hot but 2015 is beating it hollow. If this trend continues till the rest of the year, 2015 will have the HIGHEST REAL ESTATE SALES EVER in the history of Sarasota Manatee.
Friend – Wow that will be some record!! So explain this a bit more whiles my head spins, is it that more people are buying homes and there aren’t enough homes on the market? Or what else is going on?
Agent – It is a little bit of both. For starters, inventory is lower. Sarasota County has 14% less inventory and Manatee has 4% less than same time last year. And of course median price of single family homes has increased for both counties. As at July, it is $219,500 for Sarasota and $250,000 for Manatee.
Friend – And the condos I’ve been dreaming about? Have the prices gone up too?
Agent – The median price of condos has fluctuated a bit, but right now it’s at $190,000 for Sarasota and $152,000 for Manatee. Want to get you one of those?
Friend – Naah..…. my dream home for now is still a single family home with a huge backyard and a sparkling pool. I do have to sell my starter home first but I think I’ll wait for the prices to go up a little higher so I can get the best price when I sell.
Agent – Hahaha guess what, that dream home you’ve been thinking of getting? The price will also go up and up whiles you wait. You know what else is going to go up? Interest rates. Still want to wait?
Friend – You know you are right. Let’s talk this weekend about putting my house for sale. Can I get a market analysis of my neighborhood?
Agent – Sure, you know with me everyone gets a free market analysis. Email me your address again.
Friend – Ok now I really want to put up my house for sale. Thanks for your help.
Agent – Take care.