August sales rise in Sarasota

SARASOTA — Residential real estate sales are up 6.6% through the first eight months of 2011 relative to last year, according to Multiple Listing Service data published by Michael Saunders & Co.'s Michael Moulton this week.

Both single-family homes and condos have seen increased sales activity. Home sales are up 3.4% so far this year with 3,513 closings, MLS data show, while condo sales are up 12.5% with 2,038 closings.

Home sales are increasing at every price point. Sarasota has seen 129 properties priced at more than $1 million sell so far in 2011, compared to 115 last year, a 12% increase. At the same time, homes priced less than $250,000 have seen a 3% increase in sales, with 2,349 units sold so far.

In contrast, condo sales have been more heavily skewed toward lower-priced transactions. Units priced less than $500,000 have seen a 17% increase in sales, while sales of condos priced more than $500,000 saw a 14% slowdown.