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Welcome to The Griffin Real Estate Market Update.
If you’re thinking about buying or selling residential real estate, it’s important to understand the current market trends.
According to Stellar MLS, the marketplace for Sarasota residential properties, here’s what happened in Q3 2021 versus Q3 2020:
The Number of SOLD listings decreased by 12% to 2980 properties with a top sale of $9.25 million at 1588 N CASEY KEY RD in OSPREY.
The Average Sales Price increased by 24% to $561000 moving the Average Price Per Square Foot up to $289 per square foot.
The inventory of properties available for sale as measured in months supply decreased by 50% to 1 month worth of properties for sale.
The average 30 years fixed mortgage rate increased to 3.17% according to Bank Rate.com.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Sarasota
Average Sales Price
Q3 2020 – $452599
Q3 2021 – $561086
24% up
Average Days On Market
Q3 2020 – 84
Q3 2021 – 22
74% down
Average Sale Price Per Square Foot
Q3 2020 – $220
Q3 2021 – $289
31% up
Sale to List Price Ratio
Q3 2020 – 97.60%
Q3 2021 – 100.00%
2% up
Number of Sold Listings
Q3 2020 – 3372
Q3 2021 – 2980
12% down
Months Supply of Inventory
Q3 2020 – 2
Q3 2021 – 1
50% down
Mortgage Rate
Q3 2020 – 3.05%
Q3 2021 – 3.17%
4% up
Top 10 Sales
- $9250000 1588 N CASEY KEY RD OSPREY, MA
- $7700000 1435 WESTWAY DR SARASOTA, MA
- $7500000 600 WEDGE LN LONGBOAT KEY, MA
- $7150000 1360 HARBOR DR SARASOTA, MA
- $7000000 316 N CASEY KEY RD OSPREY, MA
- $6500000 582 S SPOONBILL DR SARASOTA, MA
- $6500000 435 L AMBIANCE DR Unit#PH-K LONGBOAT KEY, MA
- $6200000 3970 ROBERTS POINT RD SARASOTA, MA
- $6200000 1441 JOHN RINGLING PKWY SARASOTA, MA
- $6000000 401 QUAY COMMONS Unit#1605 SARASOTA, MA
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