Home sales rose 20% over the year, and condo sales increased by 10%.
Sarasota's existing single-family home segment saw the largest increase in sales activity among the entire Gulf Coast residential real estate market in October, according to new data released by Florida Realtors.
Sales of existing single-family homes were up 20% over the year in the Sarasota-Bradenton area, from 667 closings to 801, new data show. The median price for those sales did fall slightly, down 3% to $137,100.
Elsewhere in Southwest Florida, existing home sales increased 15% over the year in Tampa-St. Petersburg-Clearwater, to 2,207 closings, while the median price fell 10% to $123,800. The number of closings in Cape Coral-Fort Myers fell 6%, to 938 sales, but the median sale price rose 15% to $102,100.
Existing condo sales increased over the year in each of the three major metro areas in Southwest Florida: up 4% in Tampa Bay to 757 units, up 10% in Sarasota-Bradenton to 254 closings; and up 2% in Fort Myers to 256 sales. The median sale price fell in Tampa Bay (-11%, $72,300) and Sarasota (-7%, $119,100), but prices increased 2% in Fort Myers, with a new median of $106,700.