Tamina Aratari "s Market Update
Sarasota, FL
Single-Family Homes
Luxury Waterfront Realtor | 941-286-9647 | puntagordaisles@gmail.com
Sarasota, FL
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.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Real-Time Market Profile
| 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 | |
| Price Decreased | 45% | |
| Price Increased | 2% | |
| Relisted | 5% | |
| Inventory | 773 | |
| Median Rent | ||
| Market Action | 39 | |
| 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.
Market Segments
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 |