Median home prices climbing in Sarasota Area

The latest Realtor's report is out for the Sarasota area:

Median sale prices climbed dramatically in Sarasota County in October 2013 compared to last October numbers. Single family home prices were up 11.6 percent ($185,776 this year compared to only $166,500 last year), and condo prices spiked by 20.7 percent ($175,000 this year compared to only $145,000 last October).  

“There was definitely a shift in October toward single family and away from condos,” said SAR President Roger Piro. “That might be a function of the price escalation, which was far more pronounced in the condo category. Also in October, there were fewer properties on the market priced under $200,000 than last year, and more priced above $200,000. So bargain hunters have had to adjust their sights upward, where there are more deals to be found.”

More here.

A few additional bits about the Lake Sarasota area shared by Sandy Allen,:

For sold single-family properties in the past 6 months that are 3 bedrooms/2 baths with a pool, the average price per square foot for the 34241 zip is $133.49 with Lake Sarasota alone being an average of $117.36. If we take out the short sales and foreclosures in Lake Sarasota, that figure goes up to $124.79 per square foot with a median of $175,000. Lake Sarasota is comparable to Bent Tree in price per square foot.

There are currently only 2 properties listed for sale in Lake Sarasota that are 3/2s with a pool. There are 17 over all for sale with an average list price of $117.79..low of $65.83 and a high of $179.42.  Interestingly, the number 1 zip code searched in the area is 34242 (Siesta Key) followed by #2 34241.t'.