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Highest Number of Closings Since 2005?

The latest figures from the Sarasota Association of Realtors suggest that June 2012 set a new high for closings, the highest in seven consecutive quarters.

Agents around Sarasota County are excited and exhausted. While the number of properties going under contract during June has predictably dipped, the number of successful closings for the same month stood at 864.  

According to the Association, the median sale price for a single family home dropped slightly to $178,500, down from $185,000 the previous month.  For condominiums, the median price increased again to $195,000, up from $180,750 last month.

Another indicator of the changes in the market is the prices commanded by non-distressed sales. In the most recent quarter, the median price of a foreclosure single family home was $93,000 versus $235,000 for a non-distressed property. The condominiums, according to the Assocation, are showing a similar ratio — the median price being $83,000 for foreclosures versus $240,000 for a non-distressed sale.

The summer real estate doldrums have hit, however, as indicated by a slightly lower number of pending sales for June, dropping to 860 after four straight months that topped 1000.

The Sarasota Association of Realtors releases figures each month, documenting changes in real estate market for throughout the county.  

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