Housing Market Trending Upward?

Despite many people still rumbling about a bad property market, sales across Sarasota continue to be strong.  In the past week, there have been, according to the Mid-Florida Regional MLS, 149 closings in Sarasota.  This was narrowly beaten last year by 165 closings in the same time frame; however last year's sales were supported and encouraged by the First Time Home Buyer's Tax Credit.

Sales for this time period - last week of February and first week of March - were at the highest, predictably, during the boom year of 2005 with the number of properties sold at 225 . There was an average sold price per square foot of $225.17.

This year, the 149 closings show an average sold price per square foot of $232.68. Another gain over recent years.  

After several months of languishing in the doldrums, mid-range properties ($300,000 - $600,000) are showing significant movement in the marketplace.

The trend continues to support other evidence that the Sarasota market is showing signs of stabilization and improvement.  There are fewer listings on the market, but with strong sales, that creates a balance between buyers and sellers.