Published: Monday, June 22, 2015 at 11:53 a.m.
Home sales remained hot in Southwest Florida during May, 2015 as buyers shrugged off higher prices and kept the region on pace for what could be a second-straight record year.
Buyers closed on 2,569 existing single-family homes and condominiums in Sarasota, Manatee and Charlotte counties last month, or 202 more than in May 2014, according to data released Monday by Florida Realtors.
As the stock of homes for sale shrank, prices continued to climb.
Homes in the Sarasota-Manatee region sold for a median of $240,000 in May, a 14.3 percent increase over the year.
Homes in Charlotte traded for a median of $172,000, which was 9.6 percent ahead of last year.
Condo prices increased 13.5 percent to a median of $189,000 in Sarasota-Manatee, while in Charlotte they gained 21 percent to $168,400.
“The existing inventory remains low in both counties, and that fundamental tends to push price appreciation in a desirable market like ours,” said Stafford Starcher, president of the Realtor Association of Sarasota and Manatee.
Sales levels are on pace for a second straight record year, according to the Realtors data.
Residential sales in Sarasota County totaled 1,182, just 42 sales off from April’s record.
Despite the declining inventory, some buyers are finding bargains.
“I see good deals every day,” said Venice Realtor Charryl Youman. “I recently closed on a newer construction property, clean and move-in ready, worth at least $280,000, that sold for $207,000. This was not a low-ball situation. It was listed at $219,000 by a very motivated seller.”
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