Wed Oct 04 2023
This week the median list price for Sarasota, FL is $685,000 with the market action index hovering around 39. This is less than last month's market action index of 40. Inventory has increased to 773.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$685,000|
|Median Price of New Listings||$554,450|
|Per Square Foot||$344|
|Average Days on Market||83|
|Median Days on Market||56|
|Slight Seller's Advantage|
Again this week we see a downward notch for prices. Prices continue to pull back from the market’s highs. The Market Action Index is a good leading indicator for the durability of this trend.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$2,500,000||3,400||0.25 - 0.5 acre||4||4||34||15||8||98|
|$859,000||2,415||0.25 - 0.5 acre||3||3||26||17||18||56|
|$554,000||1,764||8,000 - 10,000 sqft||3||2||38||34||17||42|
|$388,750||1,338||6,500 - 8,000 sqft||2||2||44||26||28||42|