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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 2022 versus Q3 2021:
The Number of SOLD listings decreased by 24% to 2333 properties with a top sale of $17.5 million at 1423 & 1435 HILLVIEW DR in SARASOTA.
The Average Sales Price increased by 20% to $673000 moving the Average Price Per Square Foot up to $352 per square foot.
The inventory of properties available for sale as measured in months supply increased by 200% to 3 months worth of properties for sale.
The average 30 year fixed mortgage rate increased to 6.73% 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 2021 – $563139
Q3 2022 – $673136
20% up
Average Days On Market
Q3 2021 – 21
Q3 2022 – 21
0% no change
Average Sale Price Per Square Foot
Q3 2021 – $289.43
Q3 2022 – $351.8
22% up
Sale to List Price Ratio
Q3 2021 – 100.00%
Q3 2022 – 98.90%
1% down
Number of Sold Listings
Q3 2021 – 3051
Q3 2022 – 2333
24% down
Months Supply of Inventory
Q3 2021 – 1
Q3 2022 – 3
200% up
Mortgage Rate
Q3 2021 – 3.17%
Q3 2022 – 6.73%
112% up
Top 10 Sales
- $17500000 1423 & 1435 HILLVIEW DR SARASOTA, MA
- $15500000 1309 VISTA DR SARASOTA, MA
- $7200000 1321 POINT CRISP RD SARASOTA, MA
- $6750000 435 L AMBIANCE DR Unit#J204 & K205 LONGBOAT KEY, MA
- $6495000 280 GOLDEN GATE POINT Unit#PH2 SARASOTA, MA
- $6435000 6420 HOLLYWOOD BLVD SARASOTA, MA
- $6100000 401 QUAY CMN Unit#1405 SARASOTA, MA
- $6000000 3731 INDIAN BEACH PL SARASOTA, MA
- $5700000 7931 MIDNIGHT PASS RD SARASOTA, MA
- $5500000 1423 S LAKE SHORE DR SARASOTA, MA
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