THE  ZARGHAMI  REPORT

SARASOTA’S MOST CURRENT AND RELEVANT REAL ESTATE MARKET INFORMATION

Overall Sarasota Market Trends

Market information for any property with a Sarasota, Longboat Key, or Lakewood Ranch address.

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

During the second quarter, the Sarasota area real estate market was dominated by reactions to the global pandemic and the resulting state-wide quarantine. Initially, both buyers and sellers backed out of the market, driving sales down 26% from the same quarter last year.  As the quarter progressed, however, buyers steadily became more active while sellers mostly stayed inactive, creating a big demand for those homes remaining and pushing the supply level down to 2.3 months. The resulting strong seller’s market created an environment where buyers competed for the best properties and multiple-offer situations became the norm. Overall, the average sale price rose 4%, while the median sale price rose 3%.

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

SALES & INVENTORY BY PRICE POINT

 

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