Modern kitchen with a large white island, tan bar stools, and pale wood cabinetry.

August Market Report

Jaya Brossard September 11, 2019

Less Activity, but Strong Prices in both Longboat Key and Sarasota

Longboat Key

The residential real estate market contracted slightly in August, as both sales and new listing activity were down year-over-year. 22 properties were sold in August 2019 compared to 52 properties in August 2018. Likewise, 15 new listings came on market in August 2019 compared to 44 in August 2018. However, average sales price was up while average days on market declined, indicating healthy turnover of well-priced listings. 

Chart of monthly sold properties and the 4-month moving average, September 2016 to August 2019.
 
Market report chart comparing average days on market, list prices, and sales prices from September 2016 to August 2019.
 

Sarasota

The same trend was seen in Sarasota, with 316 residential sales in August 2019 compared to 558 one year ago. New listings in August 2019 were at 437, down from 617 in August 2018. However, the average sales price was up 12% year-over-year while average days on market was slightly down, indicating healthy market conditions.

Chart of monthly sold properties and the 4-month moving average, September 2016 to August 2019.

Chart comparing list prices, sales prices, and average days on market from September 2016 to August 2019.

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JAYA BROSSARD & JOHN ODORZYNSKI

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