Sarasota Sales on the Rise

Real estate sales in the Sarasota market were up 24.2 percent in February from the previous month and the housing inventory dropped to a six-year low, according to the Sarasota Association of Realtors. There were 673 total sales in the area, up 27 percent from February 2010. That included 472 closings on single-family homes and 201 closings on condominium units. The median sales price dropped slightly in the past month, down to $137,500 for both homes and condos. Realtors hope a low inventory makes prices turn around. Inventory for homes dropped to 8 months worth, compared to 10.2 months worth in January, and inventory for condos dropped to 10.4 months, compared to 14.1 months in January