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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 August 2022 versus July 2022:
The Number of SOLD listings decreased by 7% to 813 properties with a top sale of $7.2 million at 1321 POINT CRISP RD in SARASOTA.
The Average Sales Price decreased by 3% to $575000 moving the Average Price Per Square Foot down to $288 per square foot.
The inventory of properties available for sale as measured in months supply had no change with to 3 months worth of properties for sale.
The average 30 year fixed mortgage rate increased to 5.92% 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
July 2022 – $589554
August 2022 – $574799
3% down
Average Days On Market
July 2022 – 22
August 2022 – 26
18% up
Average Sale Price Per Square Foot
July 2022 – $298
August 2022 – $288
3% down
Sale to List Price Ratio
July 2022 – 100.00%
August 2022 – 99.40%
1% down
Number of Sold Listings
July 2022 – 873
August 2022 – 813
7% down
Months Supply of Inventory
July 2022 – 3
August 2022 – 3
0% no change
Mortgage Rate
July 2022 – 5.57%
August 2022 – 5.92%
6% up
Top 10 Sales
- $7200000 1321 POINT CRISP RD SARASOTA, MA
- $6750000 435 L AMBIANCE DR Unit#J204 & K205 LONGBOAT KEY, MA
- $6435000 6420 HOLLYWOOD BLVD SARASOTA, MA
- $5700000 7931 MIDNIGHT PASS RD SARASOTA, MA
- $5500000 1726 QUESTAR LN SARASOTA, MA
- $5000000 6140 MANASOTA KEY RD ENGLEWOOD, MA
- $4750000 423 S POLK DR SARASOTA, MA
- $4400000 315 S SHORE DR SARASOTA, MA
- $4100000 1898 HIGH POINT DR SARASOTA, MA
- $4000000 1419 PINE BAY DR SARASOTA, MA
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