Closed sales for single family homes increased by 6.9 percent from August 2016 in the two-county area. As for condos, closed sales also improved slightly from last
year, with an increase of 0.8 percent. Combined, closed sales climbed from last month with a 6.4 percent increase to 1,819 sales in August.
When looking at closed sales thus far in 2017, sales are higher than they were for the first eight months in 2016, a 2.1 percent increase to 14,254 closed sales.
“Several conditions can affect exactly when the increased pending sales will turn into closed sales,” explains Vallone. “There is no way to determine Hurricane Irma’s effect on the market at this date, but we are seeing some delays delay due to financed transactions that require re-inspections or a lift of the disaster designation to close.”
During the month of August, there were 6,791 single family and condo properties for sale in the two-county area, a 4.3 percent increase from this time in 2016. Inventory is down from last month in the two-county area. Single family home inventory decreased by 5.2 percent from July 2017, while condos decreased by 6.1 percent.
Article written & reported by the Realtor Association of Sarasota Manatee. Visit www.sarasotamanateerealtors.com for more information.
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