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Summary With the increase in listings, up 92% over a year ago, buyers have more options. We are moving from a sellers market and getting closer to pre-Covid conditions. Inventory is close to balanced for single family at 4.4 months supply and condos are at 5.2 months.
Sales, while the same from the month before, are up 10% from a year ago. Pricing, year over year, is up about 5%.
Inventory - Up almost 4% over the month before with 4,370 actives.The year over year inventory was up 82% from 2,431.
The supply of homes was 4.4 months for single family homes and 5.2 months for condos, a year ago those numbers were 2.5 months and 2.2 months.
Sales - were the same this December vs November, 836 vs 835
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Selling price as a percentage of original asking was just over 96% virtually the same as the month before and a year ago.
Time to contract was the same as the month before at 31 days vs 22 a year ago.
Percent of sales that were all cash was up to 54% in December vs 52% a year ago.
Time to Contract - For December it was 37 days for single family homes and 23 days for condos. A year ago it was 23 for single family and 19 days for condos.
Pricing - The median price for a single family home in Sarasota was $519k vs $505 a year ago, an inecrease of 3%. For condos the median price was $468k, a 20% increase over $390k a year ago.
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