by Jane Ebury
on Thursday, March 29th, 2018 at 12:12pm.
The housing market report for February shows a continued rise in sales in both Counties over last year. With ongoing low levels of inventory, the median prices have increased in both single family homes and condos, with a small decrease for Sarasota condos. The number of closed sales, pending sales, and new listings show a strong and steady growth, and remains the forecast for our local real estate market.
Compared to last month, the number of new listings is down by 10 percent, but this is expected as January's numbers are typically high, kicking off the beginning of the season. The condo market is enjoying center stage with median price percentage increases hitting double digits! So why are condos experiencing rock star status? Maybe due to the lack of inventory in single family homes, buyers are having to consider a condo as an alternative. They are in turn realizing the attraction of a "lock up and leave" lifestyle.