Local Market Insight / Sarasota County / January 2019

Local Market Insight / Sarasota County / January 2019

Local Market Insight / Sarasota County / January 2019

Summary:

In Sarasota County, FL, the median sold price for SFH/Villa properties
for December was $263,500, representing a decrease of 7.5%
compared to last month and a decrease of 0.6% from Dec 2017. The
average days on market for units sold in December was 68 days, 2%
below the 5-year December average of 69 days. There was a 14.6%
month over month decrease in new contract activity with 637 New
Pendings; a 10% MoM decrease in All Pendings (new contracts +
contracts carried over from November) to 788; and a 1% increase in
supply to 3,405 active units.
This activity resulted in a Contract Ratio of 0.23 pendings per active
listing, down from 0.26 in November and a decrease from 0.30 in
December 2017. The Contract Ratio is 30% lower than the 5-year
December average of 0.33. A higher Contract Ratio signifies a
relative increase in contract activity compared to supply, and indicates
the market is moving in the seller’s favor. A lower Contract Ratio
signifies a relative decrease in contract activity compared to supply,
and indicates the market is moving in the buyer’s favor.

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