Kijner & Sons International Realty is pleased to announce that according to the Sarasota Association of Realtors® (SAR), March 2011 total property sales in the Sarasota area reached 800, the highest level since September 2005 when sales started to decline. To further prove the forecasted recovery of the Sarasota market, price rose in double digits for both single family homes and condos while pending sales hit 1,208 (the highest level in six years) and inventory dropped to 5,501 (the lowest level in six years).

There was 580 closings on single family homes with a median sales price of $159,250 and 220 closings on condos with a median sales price of $173,000. In terms of sales, this represents respectively a 23% and a 10% increase from last month. 

According to SAR president Michael Bruno, “agents [in Sarasota] are very busy showing properties and writing contracts, and people are excited about our strong market rebound. Obviously, we haven’t seen numbers like these in several years. There is a buzz in the local market that’s reaching out to buyers across the nation and even internationally.”

To read the full March 2011 SAR Report and get all the statistics, please click here.

To learn more about real estate opportunities in the Sarasota Florida area, contact us at info@kijner.com