In keeping with 2020 trends, August sales year-over-year illustrate increased intensity in Sarasota’s market. At all price levels and particularly in the $1M and above bracket, the number of sales rose and the median close price increased. Relative to last year’s August, there were 12 more closings above $1M.
The increased activity demonstrates the high demand that we have identified throughout the year, adding leverage to the sellers’ market. Closed sales across every price range included both recent listings and properties that have been on the market for longer periods, reflecting buyer urgency to absorb existing inventory. Likewise, interest in new development has gained greater strength as consumers project long-term pandemic lifestyle effects and gravitate to larger adaptable spaces, private amenities, and security.
Recent closings by the Loeffler & Rooks Morris Group include August’s highest-priced sale (Lido Shores) as well as luxury condominiums downtown. For more information on Sarasota’s current residential market or for a discussion on entering the market as a buyer or seller, please contact us here.