Sales down, prices up for single-family homes

SARASOTA — Despite a dip in overall sales volume, the median and average sale prices for single-family homes in Sarasota and Manatee counties increased sharply in October 2015 compared to the previous year.

In Sarasota County, the year-over-year median sale price in October increased by 17.9% to $230,000, according to a study by the Realtor Association of Sarasota and Manatee. The average sale price in the same time period rose by 4.5% to more than $319,000 per home.

Single-family homes in Manatee County saw median sales price increase by 12.1% to $259,000, according to the study. The average sale price went up 17.2% to more than $329,000.

Homes in both counties sold much quicker, too. In Sarasota, the median time on the market dropped from 47 days in October 2014 to 36 days this past October. In Manatee, time on market dropped from 55 days to 41 days.