The Sarasota Association of Realtors (SAR) reported 759 property sales were closed in the Sarasota market last month, continuing a strong spring surge that reached the 800 level in March. Sarasota’s real estate market is at its highest levels since late 2005 when sales started to decline.
Prices also maintained their highest levels of the year in April for both single-family homes and condos. The available property inventory dropped to 5,258 from 5,501 in March.
“We are glad to see the continuing strength of the market in 2011,” said SAR President Michael Bruno. “It’s especially encouraging to note that condominium median price hit $185,500 for April, despite about a third of the sales as distressed properties. The normal arm’s length median sales price hit $272,000 for condos, which means buyers definitely see added value in these non-distressed properties.”
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