In this month’s newsletter video I look back at Q2 2014 to learn how our Sarasota real estate is performing.
The spring quarter, the period from April through June is typically the most active time for real estate transactions in Sarasota. It is again the case this year. During this period we saw a slight increase in sales over the same period last year, just under two percent.
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Luxury Market Heats Up
The luxury market – those properties listed for sale for $1m and more – saw an eight percent increase over the same period last year. The luxury market represents 3.75 percent of the total sales in the market.
Affordable and Stable Sarasota
The distressed market continues to decline as a percentage of total sales. From the 2nd quarter of 2013 to the 2nd quarter of 2014 the market decreased from 20 to 18 percent, indicating the market is stable and healthy.
I believe that Sarasota continues to be affordable, with roughly the same percentage of properties available under $500k compared to this time of year. About 88 percent of the sales in Sarasota were for properties under $500k.
These numbers confirm what I know to be true from my day to day experiences working in Sarasota: The Sarasota real estate market, is stable, growing steadily, and provides great value, especially in the luxury sector.
To explore some opportunities, call Lee at 941.587.0740.
