Sarasota County market statistics for July 2022 just came out for single family and condo sales. It is important to know these statistics are market wide throughout Sarasota county and can vary depending on individual neighborhoods and zip codes.
Market wide it is evident the number of sales has dropped compared to the same time period last year. Single family home sales have dropped 23.1% in volume year over year compared to July 2021 and condo sales dropped 24.5% in the same period. Median sales price has increased in the same time period for both single family and condos, 31.3% and 24.1% respectively. As inventory or supply of available listings continue to rise we expect the time on market or time until contract to continue to trend up above 10 days to a more balanced market of 6 months inventory. We are a long way out until that point, so it is clear we are still in a relative buyer’s market transitioning into a more balanced market.
If you have any questions on the potential valuation of your home in today’s market, please reach out. We would love to take a look at comparable sales and provide a comparative marketing analysis specific for your property.
