Blog

Feb
17
Sarasota Real Estate Market Stats: A Review of 2015

The numbers are in and 2015 has now officially been reported as a record-breaking year for Manatee and Sarasota real estate. While monthly reports throughout the year indicated that 2015 would likely shatter 2014's records, the feat may not have been a surprise, but is certainly no less impressive. And it wasn't just 2015's closed sales that outperformed last year's numbers. The two-county area also saw reduced days on market, higher median sale prices and fewer distressed sales in 2015.



temp-post-image



Increased Manatee & Sarasota Property Sales

Sarasota and Manatee County had a combined total of 20,691 closed sales in 2015. This included both single-family homes and condos, and was 6.7% higher than 2014's sales. In Sarasota County alone, 8,371 single-family homes were sold, an increase of 6.4% from last year, while 3,763 condos were sold, an increase of 5.6% from 2014. Manatee County's single-family home sales totaled 6,129, an increase of 6.3% from 2014, while condo sales totaled 2,428, an increase of 7.1% from last year.



Higher Median Sale Prices for Condos & Homes

2015's median sale prices in the two-county area also increased over the previous year. Single-family homes for sale in Sarasota went for a median of $224,000, up almost 15% from 2014, while those in Manatee sold for a median of $259,900, an increase of 14.5%. Median sale prices for Sarasota condos increased by 8.3% for a median of $195,000, while Manatee condos increased by 14.2%, for a median price of $159,900.



The increase in median sale prices was a result of fewer homes for sale. The inventory of available homes in the two-county area was typically between a 3 and 4 month supply, indicating that both Sarasota and Manatee were in a seller's market.



Fewer Foreclosures, Short Sales & Distressed Sales

Another indication of the real estate market's health was 2015's fewer foreclosures, short sales and distressed sales.
Foreclosures and short sales in 2015 decreased by more than 30% from the previous year.
There was a total of 1,803 distressed sales in Sarasota County, a decrease of 25.7% from 2014. In Manatee County, distressed sales dropped 35.9% from last year, for a 2015 total of 1,210. Several years ago, distressed sales accounted for almost 50% of closed sales in the two-county area. This year, that number was only 14%.



If you have questions about the Manatee or Sarasota real estate market and what 2016 could have in store for you, simply contact Team Coffey & Co. today!


Contact Us

 Keller Williams Island Life Real Estate       The Coffey Group Fine Homes International        Florida Suncoast Property Management 

206 Harbor Drive S,                                    1972 Hillview Street,                                              13801 Tamiami Trail Suite A, 

Venice, FL                                                   Sarasota, FL                                                           North Port, FL

34285                                                          34239                                                                    34287

                                                                                                                                                                                                                                                                                          4125 Lakewood Ranch Blvd,

Bradenton, FL

34211  


13801 Tamiami Trail Suite A,

North Port, FL

34287