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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 01/01/2022-03/31/2022 versus 01/01/2021-03/31/2021:
The Number of SOLD listings decreased by 28% to 2774 properties with a top sale of $11.5 million at 1313 WESTWAY DR in SARASOTA.
The Average Sales Price increased by 12% to $666000 moving the Average Price Per Square Foot up to $349 per square foot.
The inventory of properties available for sale as measured in months supply had no change with to 1 month worth of properties for sale.
The average 30 years fixed mortgage rate increased to 4.45% according to Bank Rate.com.
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Sarasota
Average Sales Price
01/01/2021-03/31/2021 – $595037
01/01/2022-03/31/2022 – $666133
12% up
Average Days On Market
01/01/2021-03/31/2021 – 58
01/01/2022-03/31/2022 – 21
64% down
Average Sale Price Per Square Foot
01/01/2021-03/31/2021 – $274.96
01/01/2022-03/31/2022 – $349
27% up
Sale to List Price Ratio
01/01/2021-03/31/2021 – 98.00%
01/01/2022-03/31/2022 – 101.00%
3% up
Number of Sold Listings
01/01/2021-03/31/2021 – 3832
01/01/2022-03/31/2022 – 2774
28% down
Months Supply of Inventory
01/01/2021-03/31/2021 – 1
01/01/2022-03/31/2022 – 1
0% no change
Mortgage Rate
01/01/2021-03/31/2021 – 3.33%
01/01/2022-03/31/2022 – 4.45%
34% up
Top 10 Sales
- $11500000 1313 WESTWAY DR SARASOTA, MA
- $10575000 401 QUAY COMMONS Unit#1903 SARASOTA, MA
- $9700000 605 S GULFSTREAM AVE Unit#12 SARASOTA, MA
- $9250000 3475 GULF OF MEXICO DR LONGBOAT KEY, MA
- $8768645 1364 HARBOR DR SARASOTA, MA
- $8000000 70 LIGHTHOUSE POINT DR LONGBOAT KEY, MA
- $7725000 642 RANGER LN LONGBOAT KEY, MA
- $6650000 483 MEADOW LARK DR SARASOTA, MA
- $6500000 212 BIRD KEY DR SARASOTA, MA
- $6333400 3936 ROBERTS POINT RD SARASOTA, MA
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