Sarasota County property sales match pre-recession levels

Total property sales in Sarasota County in 2013 were the second highest ever recorded, according to statistics compiled in the My Florida MLS system.

The 11,184 transactions recorded in 2013 represented 7,453 single-family homes and 3,731 condominiums. Only the year 2004 was higher, which was during the pre-recession “bubble” years of 2003-2005. In 2004, sales hit a record 11,482 — only 298 more than last year. The breakdown in 2004 was 7,780 single-family homes and 3,702 condos.

A key divergence between the pre- and post-recession property markets are the median sales prices. In 2004, single-family homes sold for a median of $234,000 and condos for $210,000. In 2013, single-family homes were a $184,900, while condos were $164,900.

During the economic downturn, property sales in Sarasota County sunk to 6,163 in 2007, with only 4,163 single-family homes and 2,000 condos sold. Sales have risen by 81 percent in the Sarasota County market since 2007.

Sarasota County’s economy has also appeared to return to steady footing, with the unemployment rate dropping to 5.7 percent from a high of more than 10% in 2009.

Contact Nolan Peterson at [email protected]