THE  ZARGHAMI  REPORT

SARASOTA’S MOST CURRENT AND RELEVANT REAL ESTATE MARKET INFORMATION

Central Sarasota Market Trends

Market information for properties between Tamiami Trail and I-75.

LAST UPDATED 7/9/20     NEXT UPDATE 10/10/20

Central Sarasota, where the majority of sales occur, saw a huge increase in demand in spite of the global pandemic. While overall sales were down 27.4% from the second quarter of 2019, inventory dropped to a 2.5 months supply, creating a strong seller’s market where multiple-offer situations were common. The average and median prices were up 6% and 4%, respectively, and the average days on market dropped 12% to just 68 days.

CLOSED SALES

Quarter to Quarter

Second Quarter Comparison

INVENTORY

Quarter to Quarter

Second Quarter Comparison

AVERAGE PRICE

Quarter to Quarter

Second Quarter Comparison

MEDIAN PRICE

Quarter to Quarter

Second Quarter Comparison

METHODOLOGY

Source: Figures in this report are based on data from the My Florida Regional Multiple Listing Service (MLS).

Closed Sales figures for this quarter are based on reported transactions at the time the report was prepared, shortly after the end of the quarter. This figure may not reflect transactions which closed during the quarter but were not closed out in MLS in a timely manner.

Average Price is the total of all sales volume divided by the number of sales.

Average Price per Square Foot (PPSF) is calculated as the average of all prices per square foot of sold properties.

Median Price is the middle or mid-point price where half of all sales fall below and half fall above this number. The median figure is less skewed by high price point sales than the average figure.

 

Median Price per Square Foot (PPSF) is the middle or midpoint price per square foot of sold properties where half of all prices per square foot fall below and half fall above this number.

Days on Market (DOM) measures the time between when a property was listed and when it went under contract. This figure applies only to properties which were listed and sold through MLS.

Inventory is a count of all properties currently listed for sale in the MLS and is measured within one week after the end of the quarter. It does not include unsold yet unlisted units in new construction communities (shadow inventory).

Months of Supply levels are an estimate of how long it would take to sell all currently listed properties based on the average number of closed sales over the last 6 months. A six month supply of housing is widely considered to be supply-demand equilibrium, with lower inventory levels favoring sellers and higher inventory levels favoring buyers.

Previous Reports

2019

Zarghami Report First Quarter 2018

1Q19

Zarghami Report Second Quarter 2018

2Q19

Zarghami Report Second Quarter 2018

3Q19

Zarghami Report Second Quarter 2018

4Q19

2018

Zarghami Report First Quarter 2018

1Q18

Zarghami Report Second Quarter 2018

2Q18

Zarghami Report Third Quarter 2018

3Q18

Zarghami Report Fourth Quarter 2018

4Q18

2017

Zarghami Report Third Quarter 2017

3Q17

Zarghami Report Fourth Quarter 2017

4Q17

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Zarghami Group, Keller Williams Classic
3355 Clark Road, Suite 103, Sarasota, FL 34231

941-900-4855