April property sales totaled 1,224 which is the one sale higher than the all time record of 1,223 sales in April 2004. The median price for single family homes hit $221,990.

Pending sales for Sarasota for April are 1,713  which tells us that Sales for May and into a few months ahead are leading the numbers into a record sales year for 2015.

Inventory is at 5.3 months, so it’s still a seller’s market.

Distressed sales dropped to 16% and distressed listings are at only 6% of total listings.  According to Realty Trac’s April U.S. Foreclosure Market Report, foreclosures are not the bargain any longer.  The selling price of foreclosures in the Sarasota Market are at 88% of market value.  Typically the “bargains” are properties that need a lot of work and those are mostly bought by investors for cash.

So, if you or someone you know is thinking of selling or buying now is the time to make your move.  Call Susan Phelps at 941-726-2227 for a value estimate of your property or for information about buying or selling a home.