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The pace of new homes being built in the Sarasota-Bradenton region, growing rapidly for several quarters, slowed down toward the end of 2014, according to a new report.
There were 906 single-family homes started in the fourth quarter last year in Sarasota-Bradenton, according to the report from real estate data firm Metrostudy. That's a drop of 11.4% from the previous quarter and 13% from the fourth quarter of 2103.
Annual home starts data analyzed by Metrostudy also reveals a large gap between price points. To wit: New home starts that list for less than $250,000 totaled 1,324 units in 2014, down 24.9% over 2013, the report shows. But new home starts in the price range of $250,000 and up increased 25.7% from 2013 to 2014.
Even with the decrease in starts, pricing in the region remains on an upward trajectory. Average prices in the new home market, the report states, increased 4.1% from the 2014 fourth quarter over the previous quarter. The average price per home in the Sarasota-Bradenton area, says Metrostudy, is now $332,100.
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