Whether you are looking for a cozy beachfront bungalow on the sandy shores of St. Armands or a home that gives your entire family room to spread out on Longboat, finding the property you are looking for can be difficult in the hot Sarasota real estate market. With a high demand for gorgeous homes and a very limited amount of inventory to choose from, it is easy to see why an increasing number of home buyers are opting to custom build their new home.
A Look at the Sarasota Housing Market Numbers
According to Redfin, 530 single family homes and 242 condos sold in the Sarasota area in April 2015. This is a 2.6% increase from March and an 11.4% increase from the previous year. Currently, the median selling price for single family homes is $236,000 (up 13.3% from 2014) or $138 per square foot (7.8% from 2014). Sellers are getting an average of 96.3% of their original asking price. Homes in the Sarasota area are typically on the market for 157 days before a sale is complete. Overall, homes in Sarasota are selling and they are selling fast for top dollar.