It is active in downtown Sarasota, Florida. Since we are in the midst of our busy winter selling season there are quite a few condos under contract in downtown Sarasota. The overall mood by people who closely observe the Sarasota market is that we are scraping along the bottom with prices remaining flat. Demand remains strong and supplies are near a 10 year low. Our office is located at 100 Central Avenue in the heart of downtown. Activity is brisk as we spot Realtors frequently taking their buyers in the 100 Central condos.
Here are pending statistics as of March 10, 2011.
- 61 condos under contract
- Lowest asking price – $49,000 – Dolphin Tower
- Highest asking price – $5,400,000 – La Bellasara
- Average asking price – $691,398
- Median asking price – $395,000
There are several luxury condos downtown that have recently gone under contract. Of the 61 condos under contract 25 of them have an asking price over $500,000.
Although, the Sarasota condo market is active there are still some great opportunities. Below are statistics for active listings:
- 172 condos for sale
- Highest asking price – $6,995,000 – Beau Ciel
- Lowest asking price – $34,500 – Dolphin Tower
- Average asking price – $926,597
- Median asking price – $527,000
With 172 condos for sale in the downtown area it sounds like there is an oversupply of properties. This is not really true. If you want to be within a short walk to Main Street, need 2 bedrooms, 2 bathrooms and want to spend less than $400,000 you have fewer than 30 condos for sale.
Closed sales since January 1, 2012:
- 35 condos sold
- Highest sales price – $1,930,000 – La Bellasara
- Lowest sales price – $15,000 – Dolphin Tower
- Average sales price – $526,533
- Median sales price – $349,000
Ironically, when compared to the same period in 2011 there have been exactly 35 sales as well. However, in 2011 the average sales price was $433,784 and the median sales price is $339,000.
If you are interested in buying or selling in Sarasota give Marc Rasmussen a call at 941.812.6272.