The March 2010 report is out! Sarasota Real Estate sales were up 56% from March 2009! It looks like we are approaching equilibrium in the Sarasota Real Estate market. The single family home inventory is now at 7.2 months. Last month we were at 10.6 months. This is a drastic drop in one month! 753 property sales were recorded with 1,060 pending sales! Pending sales were up 30% from March 2009. This is very encouraging. The median sales price for Sarasota single family homes increased 13.3% from last month to $170,000. The median sales price for condos increased 24% from last month to $210,000. Foreclosure and short sales dropped to 41% of the overall sales for March 2010. Last month distressed sales recorded were at 47%. I am sure we will see great reports for the next two months with the home buyer tax credit sales closing through June.
