As the Sarasota Real Estate Market nears the end of peak selling season, it is hard not to be confident in our region's vitality. Our area has been buoyed by a record tourist season, equity recovery by households that held onto assets during the market downturn, consumer confidence in our driver markets and pent-up demand. 

Market fundamentals such as sales growth, median price increases, tight inventories and competitive real estate lending all fuel a sense of strength and stability. With many of the markets that are feeding buyers into Sarasota experiencing median prices three to four times as high and average square foot costs in excess of twice that of Sarasota, we continue to be considered "reasonable" value. One of our closest competitors for out-of-state buyers is Naples, where price per square foot costs are reported to be 25 percent higher than Sarasota. 

The peak selling season in regions of the country that the Sarasota Real Estate Market appeals to is just now starting.  As those property sales heat up, we will see demand in this area as sellers are freed up to search for second homes or relocations, creating potential for an extended selling season in Sarasota.  In fact, early data reported by Trengraphix indicates closed and pended properties reported so far for April are trending ahead of last year, further supporting the notion of a continued rise of sales ahead of last year's record season.

Recent surveys of potential real estate buyers in the U.S. revealed Americans believe residential real estate is considered the "safest" investment. Homebuilder sentiment this last month continued to indicate confidence in the continued strong demand for new homes, but that cost and availability of labor and potential rising building supply costs may force constrained growth for months to come.

First quarter 2015 sales are pacing 7 percent ahead of the same quarter 2014.  At the bottom of the market in 2008, sales were 50 percent less than this quarter.  At the height of the market run-up in 2005, first quarter sales were 13 percent less than our current results. It is clear this year is off to a strong start.

• Total sales in March in the Sarasota Real Estate Market increased 14.3 percent from March 2014.
• Single-family homes rose 13 percent over last year and condos rose 17 percent.
• March sales were an impressive 43 percent greater than last month's total transactions.
• The closed sales the past month is very close to the all-time high of 1,228 sales in April 2004.
• The Sarasota Real Estate Market's all-cash transactions consistently exceed average around the country. 

If you have been pondering over when the right time to list your property is, there has not been a stable cycle like we are experiencing now in many years.  I believe that now is an extraordinary time to get into the game. 

Graphic: Statistical data is provided through the Sarasota Association of Realtors for properties throughout Sarasota County. The table summarizes what happened in each price segment. The Sold, Pending and Listed columns are sales and new listings for the month of the report, and the Pending Total and Listed Total are the current totals of each at the report's month end. 

Michael Moulton is a certified residential specialist broker-associate with Michael Saunders and Company

Selby Gardens Mother�s Day Brunch on the Great Lawn

This is the last week to nominate your Mother for Sarasota's Favorite Mom! Beneva Flowers and Gifts, creator and sponsor of the 8th annual “Sarasota’s Favorite Mom” contest, in conjunction with SRQ Magazine and Milan Jewelry, is excited to host this annual Mother’s Day tradition. This year’s grand prize winner will receive a custom-made pendant from Milan Jewelry, and a special Mother’s Day bouquet of flowers from Beneva. She will also be featured in SRQ Magazine. Other prizes include a spa gift basket from Spa Hollywood and dinner at Mattison’s City Grille. Nominations can be made from now until May 8.  Winners will be decided by popular vote. To enter your favorite mother, visit www.SarasotasFavoriteMom.com, where you can create a member profile and write a brief summary of why she deserves to win. All entries must be received by 11:59pm EDT on May 8, and winners will be announced May 9, 2015 

Sarasota�s Favorite Mom Contest

Show Mom how special she is this Mother’s Day.  The Museum Store has the perfect gift for your mother, wife, sister, or daughter—with elegant silk scarves, unique handmade jewelry, exclusive leather wallets and colorful bags—sure to bring a smile of delight on Mother’s Day. Now until May 10, Save 15% on Jewelry, Scarves, and Bags - Members save 25% on Jewelry Scarves and Bags.  Visit the store or shop online for treasures Mom will love. 

Ringling Museum Store

http://www.cwcfpra.com

Realize Bradenton has cooked up another inspired free event featuring, "battling" food trucks, craft brews, local vendors, and music by the region’s most exciting new musicians and groups. This Memorial Day Weekend, Realize Bradenton will rock Bradenton's Riverwalk Pavilion with the fourth Pickin' Picnic showcasing the region’s music scene. The festivities get underway at 2pm with a "Battle of the Food Trucks," a cook-off incorporating a mystery ingredient with a panel of local celebrity judges rating the results at 2:45pm.  Beer aficionados will have the opportunity to purchase handcrafted brews and chat with the brew masters from Darwin Brewing Company of Bradenton, Big Top Brewing Company of Sarasota, 3 Daughters Brewing of St. Petersburg, and Rochster Mills Beer Co. of Rochester, MI. Domestic beer, soft drinks, and water will also be available for purchase. In addition, local vendors will also be selling crafts and merchandise.This spring's music lineup includes: Chasing Jonah,  Hymn for Her, The Dram, Lions After Dark, and Have Gun, Will Travel 

Realize Bradenton