Homes sales spike 33% in Sarasota

SARASOTA — Property sales in Sarasota County jumped 33% in March over February and surpassed 1,000 for the month, the Sarasota Association of Realtors reports.

It's the first time since last May the county recorded more than 1,000 total sales in a month, according to a release.

“This spring has seen very robust sales, just like last year at this time,” Sarasota Association of Realtors President Peter Crowley says in the statement. “Agents have been extremely busy and buyers are actively investing in our local market. It's a great time for our local real estate industry, and judging by the pending sales figures, April and May should also put up great numbers.”

In total there were 1,050 closed sales in March, a mix of 698 single family and 352 condos, according to association data. The total is two closings fewer than March 2013, but up from 787 in February. The total also dwarfs the bottom of the market at the end of the last decade, when the county recorded monthly sales in the mid-300s.

Other data from the association's monthly report includes:
• Short sales continue to decrease, with 51 of the 1,050 sales in March in that category, compared with more than 200 short sales in June 2010 at the low point of the market. There were 183 bank sales of foreclosed homes and condos in March.
• Year-over-year median sales prices for March are about the same as March 2013. The median sale price for single-family homes last month was $189,472. The median sale price for condos was $170,900.
• Inventory levels dropped in March to 4,810 after that figure topped 5,000 in February. The low point in the current market was last July when, it was 3,747 homes.