Sarasota County: Home Prices Increase 6-7% in 2017

“Modest appreciation, balanced market” is the key phrase to describe real estate sales in Sarasota County 2017. After 4 years of double-digit percentage price increases, in 2017 prices appreciated at a slower, single digit pace; albeit, still strong at 6-7% increase. That’s a good thing, because it should be sustainable. A balanced market serves the best interests of sellers and buyers. Rather than chasing the market, sellers and buyers can make calm, reasoned, informed decisions, consistent with their respective needs and time frames.

• Homes Sold: 12,151 (+2.9% from 2016).
• Average Sq. Ft. Sold Price: $206.09 (+ 6.1% from 2016).
• Median Sold Price: $250,000 (+ 6.4% from 2016).
• Average Sold Price: $351,000 (+ 7.4% from 2016).
• Months of Inventory: 4.6 (+ 4.6% from 2016).

Please note this analysis paints a broad/general picture of home sales, new and resale, in Sarasota County. For a more definitive community and/or particular home market analysis, just call me. Thank you.