Closings for Sarasota residential real estate showed a 9 percent decrease in April compared to March. The decrease, however, is not indicative of a destabilization again in the market but rather an annual trend. March typically is the peak month each year for property sales in Sarasota.
A total of 474 residential properties were closed in April compared to 519 in March 2011. One year ago, the closings for April were 500, a decrease of only 6%. The bulk of the sales were in single-family homes, with 257 closings, followed closely by condo sales of 143 units.
Of the condos, a penthouse at the Ritz Carlton residences sold within one day of reaching the market, selling for $4,000,000.
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